Section 60 Purchase of Service Estimator
When you receive your Retirement Plan Information Package, you will find that it includes a “Statement of Service.”
This statement shows you the Retirement Board’s numbers for your service and the estimated cost to purchase that service in order to transfer to the Massachusetts State Employees’ Retirement System. Most of these numbers are as of October 31, 2014.
You can get a sense of the accuracy of the costs identified on the statement by using the Estimator spreadsheet in this Toolkit. Insert in the correct cells the amounts of the payments you made into the ORP up to the “Effective Date.” The spreadsheet will calculate the approximate cost to purchase that service for purposes of the MSERS.
If you find a large discrepancy between the cost figures on the Statement of Service and those calculated by the Estimator, you should bring it to the attention of the MSRB immediately at firstname.lastname@example.org. Small differences in the numbers may not be a problem. The Service of Purchase Estimator is just that, an estimator.