PERAC Memo #18 - 2001: Correction to PERAC Memo #15/2001 Buyback and Repayment Worksheets

Correction to PERAC Memo #15/2001 Buyback and Repayment Worksheets

Summary

This memo corrects an error in the repayment worksheet issued with PERAC Memo #15/2001, specifically the Factor for Line (7) for a March repayment, which should read 0.475 rather than 0.0475. Boards should discard the earlier worksheet and use the corrected version attached to this memo when calculating buyback and repayment amounts. No other action is required beyond ensuring staff use the updated factor going forward.

Full Text

PERAC MEMO #18/2001 M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Correction to PERAC Memo #15/2001 Buyback and Repayment Worksheets DATE: March 7, 2001 The repayment worksheet that accompanied PERAC Memo #15/2001, issued on February 2, 2001 contained an error. The Factor for Line (7) section incorrectly stated that the factor for a March repayment was 0.0475. The attached corrected worksheet reflects the correct factor of 0.475 for a March repayment. If you have any questions or need assistance in using these forms, do not hesitate to call Jim Lamenzo at 617-666-4446 ext. 921.