PERAC Memo #11 - 2008: Buyback and Make-up Repayment Worksheets Using Buyback Interest
Buyback and Make-up Repayment Worksheets Using Buyback Interest
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This memo transmits the updated 2008 worksheets, instructions, and cumulative interest factor sheet for calculating member buybacks and make-up payments using buyback interest under the specified G.L. c. 32 provisions. Boards should use these updated calendar-year 2008 tools (replacing prior year versions) for all applicable buyback/make-up calculations, consistent with guidance in PERAC Memo #13/2005, and may contact John Boorack with questions.
Full Text
MEMORANDUM #11, 2008 M E M O R A N D U M TO: All Retirement Boards FROM: Joseph.Connarton, Executive Director RE: Buyback and Make-up Repayment Worksheets Using Buyback Interest DATE: January 28, 2008 Enclosed are the instructions, worksheets for calculating buybacks/make-ups, and cumulative interest factor sheet for calendar year 2008 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.
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