PERAC Memo #9 - 2003: Buyback and Repayment Worksheet
Buyback and Repayment Worksheet
View original on MA State Library →Summary
PERAC Memorandum #9/2003 transmits the updated Buyback and Repayment Worksheet and instructions for calculating member buybacks and repayments for calendar year 2003, including the annual factor table used to compute accrued interest by year of service. Boards should use this worksheet (also to be posted on PERAC's website) for all 2003 buyback/repayment calculations, contacting John Boorack with any questions; no other action is required beyond adopting the updated figures.
Full Text
Memorandum # 9/2003
M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Buyback and Repayment Worksheet
DATE: January 28, 2003
Enclosed are the instructions and worksheet for calculating buybacks and repayments for calendar year 2003.
This form will be available on the PERAC web page shortly.
If you have any questions or need assistance in using this form, do not hesitate to call John Boorack at 617-666-4446 ext. 935. NAME DED. INTEREST YEAR SALARY EARNED RATE DEDUCTIONS FACTOR AMOUNT TO BE REPAID 1956 7.153307 1957 6.958470 1958 6.768940 1959 6.584572 1960 6.392788 1961 6.200570 1962 6.002488 1963 5.805114 1964 5.608806 1965 5.408685 1966 5.215704 1967 5.024763 1968 4.836153 1969 4.650147 1970 4.458434 1971 4.266444 1972 4.063280 1973 3.858765 1974 3.661067 1975 3.470206 1976 3.273779 1977 3.085560 1978 2.899962 1979 2.725528 1980 2.554384 1981 2.382821 1982 2.198174 1983 2.007465 1984 1.902810 1985 1.803611 1986 1.709584 1987 1.620459 1988 1.540360 1989 1.462830 1990 1.387884 1991 1.316778 1992 1.257668 1993 1.219853 1994 1.190100 1995 1.159942 1996 1.131651 1997 1.104050 1998 1.078174 1999 1.054965 2000 1.033266 2001 1.014000 2002 1.000000 SUBTOTAL ON 12/31/2002 (A) CURRENT INTEREST .0008333 X MONTHS =____________(B) (A) X (B) (C) GRAND TOTAL ___ /31/2003 (A)+(C) 2003 BUYBACK WORKSHEET