Extension of Receipt of DROP Applications
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Extension for Receipt of DROP Applications

We wrote the sheriffs’ offices a couple of months ago regarding the implementation of Back DROP and the repeal of regular DROP.  At that time we indicated that members who wish to enter regular DROP with an entry date no later than June 30, 2001 could do so if we received their completed application in the Pension Fund office by September 30, 2001.

Since that time we have had a large number of requests for estimates of benefits, in both DROP and Back DROP, amount of deposits, etc. to assist members in making an informed decision about what would be best for them.  The requests continue to come in; to assure that our members receive information from the Pension Fund office to make a good decision, we are extending the date for receipt of regular DROP applications with an effective date of no later than June 30, 2001.  The last date we can receive these applications in our office is Monday, December 31, 2001.

Applications received after December 31, 2001 will not be eligible for inclusion in regular DROP.  This extension provides a full six months for members to make a decision regarding regular or BackDROP and will not be extended further.

We recommend that the sheriffs’ office continue to withhold contributions for members who are considering regular DROP, until they make a final decision regarding entry into regular DROP.  Contributions of members who actually enter regular DROP can be refunded or an adjustment can be made.