Any allowance payable by the system to or on account of a member shall be reduced on the effective date of such allowance by the actuarial equivalent on such date, of the contributions, including interest to such date, with which the member would have been but was not credited under the system because of the reduction in his or her normal contributions pursuant to Section 2.124.1820 of this chapter and because of amounts paid from such member's accumulated contributions pursuant to Section 2.124.1840 of this chapter, and any continuation of such allowance shall be based on such reduced allowance but such allowance shall not be affected otherwise by such reduction of his or her normal contributions, or by such amounts paid from his or her accumulated contributions. Such reduction shall be applied to the portion of his or her retirement allowance which would have been provided if his or her accumulated contributions had not been reduced pursuant to such sections. Such member shall have the right to contribute, in accordance with rules and regulations of the retirement system manager, amounts which shall be administered as additional contributions to replace all or part of such reduction in his or her retirement allowance. (Prior code § 34.10.1003)