(b) The salary or compensation of any such employees, after such transfer, shall be paid by the authority. Notwithstanding the provisions of this section, any such employees so transferred to the authority, pursuant to the provisions of this section, who are members of or beneficiaries under any existing pension or retirement system, shall continue to have all rights, privileges, obligations and status with respect to such fund system or systems as are prescribed by law, but during the period of their employment by the authority, all contributions to any pension or retirement fund or system to be paid by the employer on account of such employees, shall be paid by the authority.
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