At the end of the DROP period, the police officer must terminate employment with the employer and would then begin receiving his monthly pension directly in the same amount as calculated at the beginning of the DROP period. The monies in the drop account would be distributed to the member in a lump sum or preferably, transferred to an individual retirement account. The DROP is a pilot program that will expire on June 30, 2006. Your employment status with your employer does not change. Maricopa County is one of the few law enforcement agencies who pay into Social Security.
DROP is strictly voluntary and irrevocable.
It is your money to keep or invest. From 1 to 60 months at your option. A. You will receive your lump sum DROP funds for the lesser period with interest. Your pension benefit will not be adjusted. A. Approval of a disability pension will be made in accordance with the pension plan only if the injury occurred during the DROP period and application for disability retirement benefits is approved by the local pension board.