Sec. 7. (a) For purposes of this section, "fund" means the Indiana public employees' retirement fund, Indiana state teachers' retirement fund, legislators' defined benefit plan, and state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan.
(b) The board shall develop the technological and administrative capabilities sufficient to categorize fund members into separate groups in which:
(1) certain members receive a service based thirteenth check; and
(2) certain members receive a cost of living adjustment.