DROP participant definition

DROP participant means an officer who participates in the deferred retirement option plan established in section 24a.

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DROP participant means an officer who participates in

DROP participant means a Participant in the Plan who:

Examples of DROP participant in a sentence

• On the date upon which the member’s participation in the DROP shall be effective, he/she shall be considered to be a DROP participant and shall cease to be an active member of the Macomb County Employees Retirement System.

• These monies are placed in a trust account and are distributed to the DROP participant upon termination of employment or completion of the DROP period whichever occurs first.

• These employee and employer contributions are credited to the Member’s DROP Account and are distributed to the DROP participant upon termination of employment.

• During the DROP period, a DROP participant retains all rights, privileges and benefits of being an active City employee, except as specifically modified in Chapter 2, Article 4, Division 14 of the Municipal Code, and is subject to the same terms and conditions of employment including disciplinary actions up to and including termination.

• These monies are credited to the Member’s DROP Account in the SDCERS Trusts Fund, and are distributed to the DROP participant upon termination of employment.

More Definitions of DROP participant

DROP participant means a participant who is eligible and who elects to participate in the DROP.

DROP participant means an annuitant who has elected to

DROP participant means a pension system member who is participating in the DROP.

DROP participant means an annuitant who has elected to participate in the DROP.

DROP participant means a participant who is eligible to participate in the DROP under § 5-1-503 and who elects to participate in the DROP under § 5-1-504.

DROP participant means any member who elects to

DROP participant means an annuitant who has elected to participate in the DROP. (Def. added July 9, 2010, P.L.434, No.56)