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The board unanimously authorized transferring up to $750,000 from PRIT, if necessary, to cover April payroll and other disbursements.
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The transfer provides the retirement system with sufficient cash for planned April payments if needed. The board also unanimously approved employee service-credit transactions, including a $924.41 buyback, two incoming service transfers totaling $20,703.90, and refunds to two former or current employees. The board noted that the system must reimburse the Massachusetts Teachers’ Retirement System $13,637.86 annually for Catherine Mamakos’s retirement allowance.
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