PERAC Memo #9 - 2006: Buyback and Make-up Repayment Worksheets Using Buyback Interest
Buyback and Make-up Repayment Worksheets Using Buyback Interest
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PERAC Memorandum #9/2006 provides retirement boards with updated worksheets, instructions, and a cumulative interest factor sheet for calculating buyback and make-up payments using buyback interest for calendar year 2006, applicable under G.L. c. 32, §§ 3(3), 3(4), 3(4A), 3(5), 3(6)(c), 3(6)(d), and 3(8)(b). Boards should use these new tools (referencing PERAC Memo #13/2005) for all applicable buyback/make-up calculations going forward, and may contact John Boorack with any questions.
Full Text
Memorandum # 9/2006
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 Buyback Interest
DATE: January 27, 2006
Enclosed are the instructions, worksheets for calculating buybacks/make-ups, and cumulative interest factor sheet for calendar year 2006 using buyback interest. These worksheets are to be used for buybacks and make-ups to be calculated under G.L. c. 32, §§ 3(3), 3(4), 3(4A), 3(5), 3(6)(c), 3(6)(d) and 3(8)(b) 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