Introduced
by
To create a one month “window” during which a State Police officer who has been in the DROP program for at least four years may retire and get paid 100 percent of the pension benefits he or she has accumulated while in the program, rather than 80 or 90 percent. Officers in the DROP start getting a portion of their pension while still working and simultaneously collecting their regular salary. The amount of pension they can collect is 30 percent the first year, 50 percent the second, and then increases 10 percent each year until eventually they are getting full pension and full pay before they have retired. The money is not paid out to them immediately but is deposited into an interest-bearing retirement account they get when they actually retire.
Referred to the Committee on Labor
