(a) The Connecticut teachers’ retirement system is established to provide retirement and other benefits for teachers, their survivors and beneficiaries. On or after a member vests in the system by becoming eligible to receive a retirement benefit pursuant to § 10-183f, or accumulates ten years of credited service in the system, as defined in subsection (a) of § 10-183e, whichever is later, the member’s benefit under sections 10-183e, 10-183f, 10-183g, 10-183h, 10-183j and 10-183aa is contractual in nature and no public or special act of the General Assembly shall diminish such benefit, provided this section shall apply only to an active member who is vested on October 1, 2003, or to a member who vests or accumulates ten years of credited service on or after October 1, 2003, and shall apply to the member’s benefit in existence on October 1, 2003, or to the member’s benefit in existence on the date the member vests or accumulates ten years of credited service, respectively, whichever is later.

(b) In addition to the benefits described in subsection (a) of this section, upon the issuance of bonds authorized by § 10-183qq, all benefits of all members of the teachers’ retirement system as of said issuance shall be construed to be contractual in nature, as long as the bonds issued in accordance with § 10-183qq or any subsequent reauthorizations of said bonds remain outstanding. Nothing in this subsection shall be construed to bestow any vested rights upon a member of the Connecticut teachers’ retirement system until such time as those rights are earned in accordance with provisions in place upon issuance of the bonds pursuant to § 10-183qq.

(c) Nothing in this section shall affect the provisions of § 10-183t or 10-183z.