Section 1115-M. Transfer of officers and employees

Any officer or employee
  of the city under civil service who is selected by the authority or  the
  water  board  may,  with the consent of the mayor, be transferred to the
  authority or the water board, as the case may be, and shall be  eligible
  for  such  transfer  and  appointment  without examination to comparable
  offices, positions and employment  under  the  authority  or  the  water
  board,  as  the  case  may  be.  The  salary or compensation of any such
  officer or employee, after such transfer, shall be paid by the authority
  or the water board, as the case may be. Any such officers  or  employees
  so  transferred to the authority or the water board, as the case may be,
  pursuant to this section, who  are  members  of  or  benefit  under  any
  existing  pension  or  retirement fund or system, shall continue to have
  all rights, privileges, obligations and status with respect to such fund
  or system as are now prescribed by law, but during the period  of  their
  employment  by the authority or the water board, as the case may be, all
  contributions to such funds or systems to be paid  by  the  employer  on
  account  of such officers or employees shall be paid by the authority or
  the water board, as the case may be. All such officers or  employees  so
  transferred to the authority or the water board, as the case may be, who
  have  been appointed to positions under the rules and classifications of
  the personnel officer of the  city  shall  have  the  same  status  with
  respect  thereto  after transfer to the authority or the water board, as
  the case may be, as they had under their original appointment.