(A) Notwithstanding any other provision of this article, a person who becomes a member of the National Guard after June 30, 1993, is ineligible to receive the pension authorized by this article.
(B) No funds appropriated for the Adjutant General's Office in the annual general appropriations act may be expended for recruiting purposes unless the enlistment contract for persons enlisting after June 30, 1993, contains notice of the provisions of subsection (A) of this section.
(C) There is established the National Guard Pension Fund which must be managed by the State Budget and Control Board as other state retirement system funds are managed. The State Treasurer shall invest the fund as the funds of other state retirement systems are invested. This fund, together with monies that may be appropriated for the purpose, must be used to pay the pensions authorized by this article. The General Assembly annually shall appropriate sums sufficient over time to establish and maintain the fund on an actuarial basis as determined by the State Budget and Control Board.