Such election or revocation or change thereof, with respect to members under Article IV of this chapter, shall apply to all of the retirement allowance, if, at the effective date of retirement for service or for industrial disability, such member has no spouse, children or dependent parents who would qualify for continuance of the allowance after the death of such member; or, if at retirement such member has a spouse, children, or dependent parents who would so qualify, then such election, or revocation, or change thereof shall apply only to the portion of the allowance which would not be continued after the member's death, regardless of dependents. (Prior code § 34.15.1501)