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Retirement allowance. The term :'retirement allowance~ shall be taken to mean the retirement payments to ~hich a me~b, er is entitled as provided in this articles Service. The word ~'service" shall be taken to mean service as an employee for which compensation is paid by the employer. System. The word "system" shall be taken to mean the "Portsmouth Supp!~enta! Retirement System" provided for in this article° Section 31-9i. Definitions. As used in this articl~ unless othe~"ise required i~3- the context~ the following words and terms shall have the mean- ing indicated: Accumulated contribntionso The term "accumulated contributions~ shall be taken to mean the sum of all amounts deducted ~rom the compensation of a member as contributions to the syst~m~ together ~ith interest thereon at the rate of t~o percent per ann~n~ from the end of the fiscal year in which each such contribution was made. Actuarial equiva!ent~ The term ~'actuaria! equivalent" shall be taken to mean a benefit of ~qua! value when computed upon the basis of such actuarial tables as are adopted by the board. Average final compensation~ The te~m ~'average final compensation" shall be taken to mean the average annual credit- able compensation of a member during the three consecutive years of creditable service in which such compensation was at its greatest amount~ or during the entire period of his creditable service~ if less than tt~ee years. Beneficiary° The word ~'beneficiary" shall be taken to mean any person entitled to receive benefits of any kind ~ader this article because of the death of a member. Board. The word "board" shall be taken to mean the Board of Trustees of the Portsmouth Supplemental Retirement System as provided for in sections 31-103 to 31-111. Creditable con~pensation. The term ':creditable compen- sation~' shall be taken to mean the full compensation payable to an employee working the full working time for his position; in