Section 99. The treasurer of any city, town or county which accepts this section may make advance payments in an amount not to exceed any retirement allowance actually due to employees of such city, town or county who are eligible for, and who have filed applications for, retirement, during such period as is necessary for the processing of such applications for retirement, and shall establish rules and regulations governing such payments.

This section shall take effect upon its acceptance in a city by vote of the city council, subject to the provisions of its charter; in a town by vote of the voters at a town meeting; and in a county by vote of the county commissioners.