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  • Drop

    Hey, would anyone on here from Dallas or another agency that has this DROP pension program be able to explain this process to me? I've been trying to look it up online however having trouble with the details.. Do you enter this program say 20 years into the department? And if so, what part of your salary goes into this DROP? And do you still receive a salary or do you receive a pension or is your pension forfeited? Any help is appreciated, thank you.

  • #2
    I think after 20 in you go into drop. Then all your pension goes into 401k or 457. I think that is the basis of drop. I know guys that are 10 years into drop and are going to retire very very nice.


    • #3
      So you do not receive a pension by using DROP?


      • #4
        something about d.r.o.p

        okay...this may shed some light. when we can join drop varies from officer to officer, depends on years of service and age. the best time to enroll in drop is 50 years of age and 20 years of service. when you join your contribution to the pension stop and that chunk of change goes back in your take home check. it's about 400.00 or so a month. when you join drop the amount the city pension would be sending , you if you really retired is not sent to you, as it would if you retired from active service.

        My nearly 4,500 dollar pension check is sent to the drop and put in the big kitty of the other drop members from the police and fire. so I put 4500.00 per month in drop. at a interest rate of about 9%. this continues until you actually retire and hang up the badge. BUT it can continue until you want it too.
        Let's say I land a job in the private sector and don't wish to have the pension send me the check. it will continue to be sent to the drop until I say so. If I want it to I can start receiving my pension checks and live of my 4500.00 a month and what ever I want to live off my drop fund until it runs out.
        I know a husband and wife team in drop putting 8000.00 a month in drop. that is a butt load of money.

        You can stay in as along as you like or want to.

        The only drawback is the possibility of a disabilty insurance with the city. There are several companies offering that here and anyone should have that anyway. There are some equations that you need to look at for your surviving spouse if she out lives you and you want her or him to get your full pension check. But heck your surviving spouse will have a butt load of drop money.

        website: http://dpfp.org
        Last edited by crimescene4541; 09-17-2008, 09:22 PM. Reason: additional information


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