The benefits to which a member shall be entitled under § 6-5-60 of this subchapter shall be, at the election of the member:
(A) A monthly annuity payment in an amount equal to .2% of the member’s monthly salary on December 29, 1969, multiplied by the number of full years of service rendered prior to December 29, 1969, which would have constituted credited years of service had the plan been in effect throughout the term of such service; or
(B) A lump sum payment equal to the retirement values.
(Ord. 3148, passed - -1990)