PERAC Memo #8 - 2006: Buyback and Make-up Repayment Worksheets Using Regular Interest
Buyback and Make-up Repayment Worksheets Using Regular Interest
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This memo transmits updated worksheets and instructions for calculating buyback and make-up payment amounts using regular interest for calendar year 2006, applicable to the specific G.L. c. 32 provisions cited in PERAC Memo #13/2005 (§§4(1)(g½), 4(1)(l), 4(1)(l½), 4(1)(n), 4(1)(o), 4(1)(o½), 4(1)(p), and 4(2)(c)). Boards should use these enclosed worksheets going forward when computing such repayments for members buying back or making up service, contacting PERAC staff with any calculation questions.
Full Text
Memorandum # 8/2006
M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Buyback and Make-up Repayment Worksheets Using Regular Interest
DATE: January 27, 2006
Enclosed are the instructions and worksheets for calculating buybacks/make-ups for calendar year 2006 using regular interest. These worksheets are to be used for buybacks and make-ups to be calculated under G.L. c. 32, §§4(1)(g½), 4(1)(l), 4(1)(l½), 4(1)(n), 4(1)(o), 4(1)(o½), 4(1)(p) and 4(2)(c) as referenced in PERAC Memo #13/2005.
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.
Enclosures