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Pension Board releases "inclusive" DROP list
Complete numbers of city employees signed up for DROP finally available.
Pension Board releases "inclusive" DROP list
In today's paper, Ralph Cipriano writes about a previously unreported aspect of the city's mess of a program called DROP (Deferred Retirement Option Plan): the fact that city employees can effectively pre-register for the program. Those employees therefore would be able to lock in to DROP's current structure of benefits, even if the program gets reformed by City Council in the future. In the story, Cipriano reports that the city provided a list of 510 employees who had signed up for DROP since Feb. 1, 2010, and 32 who used the "pre-register" option -- numbers the city admitted were incomplete. The city Pension Board late Wednesday released an "inclusive" list of all
 city employees who in the past 15 months have signed up and been accepted for DROP. The new list includes 1,520 employees who will earn future DROP
 bonuses from 2014 and 2021 of $267 million, or an average of $162,000 each. The new
 inclusive list also includes more than 90 employees who have pre-registered
for DROP.
i am sick and tired hearing about the drop !! This money is the workers money from thier pension.Why doesnt anyone understand that.If i retire that money will go to me anyway so it is not taxpayers money.If i choose to sign up and let the city put it in a account that bears a very small intrest rate and they invest it correctly the city and taxpayers make money so what is all this crap people are against it ?? I just dont understand ??— #1unionman- Where can I find the list of 1,520 employees signed up for the DROP?— JF
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