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MN ORDINA~NCE TO ~EI~D THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA, 1961~ BY ~IENDtNG SECTIONS 26-1, 26-7, 26-20~ 26-24, 26--24.1, 26-26,\ 26-27, 26-31, 26-32, 26-33~ 26-34, 26-35, 26-36~ 26-36.1, 26-37, 26-38, 26-40, 26-41, 26-42 AND 26-46 THEREOF PERTAINING TO THE PORTSMOUTH SUPPLEMENTAL RETIRF~ENT SYSTEM. Be it ordained by the Council of the City of Portsmouth, Virginia: _ 1. That the Code of t~e City of Portsmouth, Virginia, 1961, be amended by amending Sections 26-1, 26-7, 26-20, 26-24, 26-24.1, 26-26, 26-27, 26-3i, 26-32, 26-33, 26-34, 26-35, 26-36, 26-36.1, 26-37, 26-38, 26-40, 26-41, 26-42 and 26-46 thereof, such amended sections to read as follows: Section 26-1. Definitions. As used in this article, unless otherwise required by the context, the following words and terms shall have the mean- ings indicated: Accumulated contributions. The term"accumulated con- tribUtions"~shall be taken to mean the sum of ali amounts deducted from the compensation of a member as contributions to the ~ystem, ' together with interest thereon at ~he rate of two percent per annum from the end of the fiscal year in which each such contribution was Actuarial equivalent. The te_~m =actuarial equivalent" shall be taken to mean a benefit of equal value when computed upon the basis of such actuarial tables as are adopted by the board. Average final compensation. The term "average final compensation" shall be taken to mean the average annual creditable compensation of a member during ~he three consecutive years of his highest earnings of creditable service or during the entire period of his creditable service if less than three years. Beneficiary. The word "beneficiary" shall be taken %0 mean any person entitled to receive benefits of any kind under 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 26-8 to 26-18. Creditable compensation. The te~ "creditable compensa- tion'~ shall be taken to mean the full compensation payable to an employee ~orking the full working time for his position; in cases where compensation includes maintenance and other perquisites, the city manager shall fix the value of that part of the compensation not paid ~n ~oney.