The Public Employee Retirement Administration Commission (PERAC) recently approved the Quincy Retirement Board’s request to consider participation in the vacation buyback program as regular compensation. The Board will now implement the provision of Section 106 in accordance with PERAC Memo 23/2022. Police Officers that have retired between July 1, 2008 and November 1, 2022 and participated in the vacation buyback program are eligible to have their retirement allowances recalculated. For members in service as of May 1, 2018 and who retired on or after November 2, 2022, and participated in the vacation buyback program at least fifty percent (50%) of the calendar years during which the member was eligible to participate, they will be able to include the compensation paid from vacation buyback as regular compensation. For members who owe contributions to the System that were not contemporaneously withheld or which were previously refunded back to the member, the member will be allowed to remit these contributions and/or repay the refund to the System without interest