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Committee hears bill to add DROP option for OPERS law‑enforcement members
Summary
The House Public Insurance and Pensions Committee heard sponsor testimony on House Bill 73, which would require the Ohio Public Employees Retirement System law‑enforcement division (OPERS LE) to establish and administer a Deferred Retirement Option Plan, or DROP, for OPERS LE members.
The House Public Insurance and Pensions Committee heard sponsor testimony on House Bill 73, which would require the Ohio Public Employees Retirement System law‑enforcement division (OPERS LE) to establish and administer a Deferred Retirement Option Plan, or DROP, for OPERS LE members.
Supporters said the program would let a retirement‑eligible officer lock and accumulate retirement payments in an account while continuing to work for up to eight years, and argued it would create parity with the Ohio State Highway Patrol Retirement System and the Ohio Police and Fire Retirement System. "The officer's retirement benefit is calculated and…
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