§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 full rate required by law without reduction through withdrawals or advances. Anticipated deficiencies may be repaid by the member in advance of retirement, in which case regular interest shall be computed to date payment is received in determining the amount of the deficiency. [L 1969, c 110, pt of §1; gen ch 1985]