The DROP (Deferred Retirement Option Plan) Loophole

By Mindey Elgart | April 22, 2011

We’ve all been hearing about the DROP controversy in Philadelphia.  (It’s happening in New Jersey as well.)  Well, what is it and what’s the latest?  DROP stands for Deferred Retirement Option Plan.  What it has turned into is a loophole for city employees.   According to the Cabrini College Locquitor, “Elected officials are con­sidered city employees…

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