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Commissioners adopt DROP provisions for county pension plan with five‑year window and 5% fixed rate
Summary
The board approved a deferred retirement option program (DROP) for a county pension plan that sets eligibility at 35 years, a five‑year DROP period at a fixed 5% rate, allows withdrawal without a planned penalty in the adopted language, and limits monthly participation to 1% of the workforce with a three‑year review.
The Board of County Commissioners voted to adopt DROP (deferred retirement option program) provisions for a county pension plan after staff and commissioners discussed the details and fiscal implications.
A commissioner moving the motion outlined the proposal: employees with 35 years of service would be eligible; the DROP period would last five years at a fixed 5% rate; no penalty for withdrawal was included in the adopted language; and participation…
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