If a county has created a special retirement or pension system that allows or has allowed the system’s benefits to be set or amended by a means other than by ordinance enacted by the governing body of the county, on or before January 31, 1996, the governing body of the county shall:

(1) (i) modify the system so that it complies with § 39-102 of this title; or

(ii) terminate the system as provided under § 39-104 of this title; and

(2) terminate any benefits that are not allowed under § 39-102(e)(2) or (f) of this title, that an individual who was an elected or appointed official while a member of the special retirement or pension system is eligible to receive or modify those benefits so they comply with § 39-102(e)(2) or (f) of this title.