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•lifetime and have such retirement allowance, or a designated fraction thereof, continued after his death to one other person, called a contingent beneficiary, during the lifetime of such contingent beneficiary; "provided, however, that the actuarially computed present value of the payments expected to be made to the retired member must be at least one-half of the actuarially computed present value of the present value of the combined total payments expected to be made to the retired member and the contingent beneficiary. " In the case of a member who retires for disability under the provisions of section 2-219.10 of this code, the election of this option shall not become effective, and need not be made, until he attains the date that would have been his normal retirement date had he remained in service until then. (c) A member who retires for early service retirement under the provisions of section 2-219.4(c) of this code may elect to receive an increased retirement allowance up to the date his primary social security benefit is expected to commence, and a decreased retirement allowance thereafter, thereby providing a more nearly level retirement allow- ance when such decreased retirement allowance is added to his anticipated primary benefits under the federal Social Security Act. (d) The election by a member of any one of the options provided in subsections (b) and (c) of this section shall be null and void if the member dies prior to retirement, or prior to the date the option becomes effective, and the election by a member of the option provided in subsection (b) of this section shall be null and void if the designated •contingent beneficiary dies before the member's retirement or before the date the option becomes effective. (e) A member who has elected any one of the options provided in subsection (b) and (c) of this section may, at any time prior to the later of the effective date of the member's retirement or the date the option becomes effective revoke such an election by written notification to the commission. The election of any one of such options shall automatically revoke any previous election then in effect. (f) The commission may, in its discretion, if the amount of any retirement allow- ance which would be payable on an optional basis elected pursuant to this section be less than twenty dollars per month, decline to permit election of such option. SECTION 2-219.14. Survivor's allowance. Should a member die in service at any time before retirement and after either becoming eligible for early service retirement under section 2-219.4(c) of this code, or completing at least thirty years of creditable service, the member's widow, if any, shall receive a retirement allowance payable monthly for life equal to and commencing at the same date as the retirement allowance that would have been payable to the member, computed in accordance with section 2-219.5(a) of this code, had the member survived