PERAC Memo #10 - 2007: Buyback and Make-up Repayment Worksheets Using Regular Interest
Buyback and Make-up Repayment Worksheets Using Regular Interest
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PERAC Memo #10/2007 transmits updated instructions and worksheets for calculating member buybacks and make-up payments using regular interest for calendar year 2007, applicable to service purchases under the specified G.L. c. 32 sections referenced in Memo #13/2005. Boards should use these updated worksheets when computing 2007 buyback/make-up interest calculations and may contact PERAC staff with questions.
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Memorandum # 10/2007
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 22, 2007
Enclosed are the instructions and worksheets for calculating buybacks/make-ups for calendar year 2007 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