IMPORTANT: Once an employee enters the DROP, the decision is irrevocable.
Employment terminates at the end of the 3-year term or at any point of early withdraw after the commencement of the DROP period. The DROP participation period is three (3) years from the enrollment date. Eligible employees must agree to participate in the DROP for the full 3-year term.
During employment, DROP participants will:
- Continue to work and accumulate leave during the three-year period.
- Maintain eligibility to receive merit salary increases, Cost of Living Adjustments (COLA), and promotions.
- Have bi-weekly pension contributions applied to their DROP account.
- Remain covered under active health insurance plans.
Disability During DROP
- DROP participants maintain their eligibility to apply for disability retirement as described in the pension plan.
- The disability benefit is calculated as of the DROP entry date.
- Employment ends upon the acceptance of disability retirement.