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(b) The election by a member o£ any one of the options stated in this section shall be null and void if the member dies prior to retire- merit, and the election of a m~mber of the option stated in paragraph (2) of subsection (a) of this section s~t ~ be null and ~void .if the designated person dies before the-member,s retirement. (c) A member .wh~ has elected ar~ one~ Of the options stated, in this,. ~ectior~may ~ at any. Dd~e prior to the :later 0£~the:_ effectiv~e date ~qf the member's retirement or' the 'date'o2 }~ritten notification to the 50ard of retirement of the m~mher, revoke· such an election by written notifi- cation to the-board. - Section 26-48. Definitions. As used in this article, unless otherwise required'by the con- - text,, the fo.llowing words and terms shall have the meaning indicated: Acctnmulated contributions. The ~term ~'accumulated contributions" s~ t be taken~o ~ the_s_um of. all mmo~utS deducted ~f~rom. the 'cO~Per~a-~ ..... tion ~}~ membe~as contribute[OhS tothe ~yst~U,-toget~er...~th - thereon at the rate of two ,perce~t- per .annum i~om th~' end o~ th~. fiscal year in which each such contribution w~s made. Aetuarmal equmva~ent. The term ac~uarmal equivalent ?bail be .~i~ ' ' ta~n~ ~o mea~ a' ben. e_fit_ of equal value .when. Conp~ed_ ~p0n the'bas,'s of ~ch actuarial tables as are adOpted by the'board. ' ? · Average final cOmpe~atiofl~~ The t~'"average fi~ml'6~nsa~ion shall be taken to mean the average anrmal creditable comoensation of a member~during the three consecutzve years oz .creditable semce mu which such compensatzon was attars greatest amount, o~ during the entzre per~ed of his creditable service, if less ths_n~three years. Beneficiary..The word "beneficiary"shall be taken to mean arj person entitled to receive benefits Of any ~f~nd under this 8-~icle be- cause of the death of a member. Board. The word ~'bosrd~' shall be %ak~e~ to me~ ~he Board of Trustees of the PoI~smouth Supplemental Retire/trent. SystemS as provided for in sectiohs 26-55 to 26-63. Creditable compensation. The term "c?editab!e con~pensation" shall be taken to mean the full compensation payable to an employee work- ing th6 full working time for bis position; in cases where compmnsation includes maintenance and other perquisi_tes, the city manager shall fix the value of t~t part of the compensation not paid in r. oney. Creditable service. ~ne ~erm ~creditable service" shall be t~/<en to mean, for any mmmber the most recent p&riod of continuous service as an employee rendered by the member; provided, however.~ that continuous se~zice shall not be considera~ to have been Luter~s_pted by _~apy period or -4-