The implementation of the DROP shall not result in any net increase in cost to the City. This determination shall take into account the costs associated with payroll, the expenditures associated with the recruitment and training of Police Officers, the costs of conducting academies for such recruits and trainees, the Field Training Officer costs, the retirement contributions made by members participating in the DROP, and the City, and the City’s share of the return on the investment of the DROP funds, along with any other cost or savings elements related to the implementation of the Program. Notwithstanding this objective, the DROP shall be given a sufficient trial period to determine whether, as implemented, it is cost-neutral to the City as so defined.
Not later than April 15, in the third year after the effective date of the DROP, a joint report prepared by the Controller of the City and the consulting actuary of the Retirement System documenting the net cost effect of the Program shall be submitted to the Board of Supervisors, and the Board shall determine by majority vote whether, on the basis of said report, the Program shall be renewed for an additional period of time as specified by the Board, but in no event beyond an additional three years.
The net cost effect of the Program shall be similarly evaluated periodically thereafter, pursuant to a schedule established by ordinance adopted by the Board of Supervisors by majority vote; provided, however, that in no event may such an evaluation be conducted less often than every three years after the initial evaluation.
If the Board of Supervisors determines not to renew the Program, those members then enrolled shall be permitted to complete their Program participation pursuant to the terms in effect when they entered into the Program.
(Added by Proposition B, Approved 2/5/2008)