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Board approves three retirement requests, including DROP entry and 30-year pension
Summary
Trustees unanimously approved three retirement-related items: a vested deferred benefit, a DROP entry for a career employee, and a normal retirement after 30 years of service.
The General Employees Pension Plan Board of Trustees unanimously approved three retirement requests during its Sept. 25 meeting.
Miss Martin, plan administrator, presented the cases. The first approval was for a vested deferred retirement for Belinda Hartsell; she separated in 1998 after ten years of service and is eligible to take her vested deferred lifetime benefit upon reaching age 65.
The board then approved a normal DROP (Deferred Retirement Option Program) entry for Michael Matthews, who after a little more than 20 years of service requested DROP entry effective July 1, 2025 and selected a 100% joint-annuitant option. Trustee Keeler moved to approve the DROP entry; Vice Chair Nicholas seconded and the motion passed unanimously.
Finally, trustees approved the normal retirement request of Douglas (Doug) Jefcoat after 30 years of service; he selected a 66.67% joint-annuitant option with the ability to change. Trustee Thornburg moved the motion; Secretary Griggs seconded, and the board voted to approve the request unanimously.
All three motions passed without recorded opposition. The approvals reflect standard plan procedures for vested deferred benefits, DROP elections and normal retirements; staff will process benefit commencement and any requested rollovers or payouts according to plan rules.
