(a) Specifically, but not in limitation of the pension board's authority to amend the plan as set forth in Section 45-37-123.150, the pension board may amend the plan to increase or enhance member benefits by cost-of-living increase, lump sum payment, or in any other form or manner as the pension board may prescribe, provided that such benefit increases or enhancements have been:
(1) Certified in a written opinion by a competent actuary that the trust fund and the anticipated receipts and liabilities are sufficient to pay for the increase or enhancement; and
(2) Set forth in written rules and regulations adopted by the pension board.
(b) In no event shall a member be entitled to any benefit increase or enhancement, including any cost-of-living increase.