§88-87  Adjustment for deficiency in
accumulated contributions.  Upon retirement, the maximum retirement
allowance of any member whose accumulated contributions are deficient shall be
reduced by an amount which is the actuarial equivalent of the amount of the
deficiency.  A deficiency shall be the amount by which a member's accumulated
contributions fail to equal the accumulated contributions which would be
standing to the member's account had the member contributed at the full rate
required by law.  Deficiencies may be paid by the member in advance of
retirement, in which case the member's retirement allowance shall not be
reduced. [L 1969, c 110, pt of §1; gen ch 1985; am L 2000, c 215, §3]