§ A8.903

THE EFFECT OF PARTICIPATION IN THE DROP UPON PENSION BENEFIT CALCULATIONS

Upon the voluntary entry of a qualified member into the DROP, that member’s Retirement System benefits, including survivor benefits, shall be frozen, and shall not be increased as a result of any additional service time, increase in age or compensation earned by the member while they are participating in the DROP. During the period of a member’s participation in the DROP, the monthly service pension payment described herein shall be increased by any cost of living adjustment to which the member would otherwise be entitled, if retired, during the period of their participation in the DROP, pursuant to the terms of the retirement plan which applies to the member.

History

(Added by Proposition B, Approved 2/5/2008)

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