DROP participation period definition

DROP participation period means the time that an employee participates in the DROP while actively employed by the City.
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DROP participation period means the period of time elected by a DROP Participant to participate in DROP.
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DROP participation period means the period oE time a
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Examples of DROP participation period in a sentence

  • The Member receives service credit for the DROP participation period in lieu of any DROP benefit.

  • If, at the end of my DROP participation period, I have any unused sick leave, I will not receive any additional creditable service and my retirement allowance will not be adjusted.

  • You can always terminate employment and retire prior to the end of your announced DROP participation period; however, once announced, you are not permitted to work beyond your originally stipulated DROP ending date even if such date fell short of the maximum period allowed for DROP participants.

  • These contributions are based on the retirement option elected upon entering the DROP participation period.

  • Benefit Escalation The applicable escalator provisions apply from the member’s actual date of retirement at the end of the DROP participation period.

  • If you elect to participate in DROP, you must terminate your employment with the City of Boynton Beach Police Department and retire from service no later than the end of the DROP participation period you designate.

  • TheDROP accumulation of an elected officer exercising this option shall remain in the FRS Trust Fund until termination of their elected office and shall not accrue additional interest or benefits after the DROP participation period ends.Accumulated DROP benefits and interest are distributed after your termination of employment is verified by your FRS employer.

  • At the end of the DROP participation period, one half of participants are assumed to retire; the other half are assumed to work three additional years.RETIREMENT RATES FOR ACTIVE The table of these rates is included later in the FORMER DROP PARTICIPANTS: report.

  • A Member that completes two (2) years of DROP participation before the 2007 adoption of the ad hoc cost-of-living adjustment will receive a two percent (2.00%) cost-of-living adjustment related to such DROP participation period.

  • An election to participate in the DROP constitutes an irrevocable election to resign from the service of the City not later than the maximum permissible DROP participation period provided for in the Plan.


More Definitions of DROP participation period

DROP participation period means the period of time a
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DROP participation period means a period of years during which a participant participates in the DROP while employed by the Sheriff’s Office of the County as a covered individual under the Plan.
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Related to DROP participation period

  • Participation Percentage means the rounded percentage of the total actual Project costs that will be contributed by the OPWC, not to exceed the maximum dollar contribution of the OPWC identified in this Project Agreement, and the rounded percentage of the total actual Project costs that will be contributed by the Recipient. Both percentages are identified in Appendix B. If the total actual Project costs exceed the estimated Project costs identified in Appendix B, the Local Subdivision Participation Percentage will increase to reflect the cost overrun, while the OPWC percentage contribution will decrease recognizing that there is a maximum dollar contribution from the OPWC which is identified in this Project Agreement.

  • Participation Rate means the rate of interest payable on the Loan to Participant by Administrative Agent-Servicer.