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Sec. 501.1.
The final compensation of every member, after the effective date of this section, shall be calculated upon the average annual compensation earnable of the member during his last three years of service or during any other three consecutive years of service which he shall designate, notwithstanding the definition of final compensation contained in Section 501 which, however, shall continue to be applicable to every case in which a member’s retirement allowance or any other person’s pension benefit based upon a member’s final compensation did or shall become effective and operative as of any date prior to the effective date of this section. (Added, 1965.)