DROP(ped) in Dallas
Going to work for the Dallas Police Department just got a lot less lucrative.
According to The Dallas Morning News, “Beginning April 1, police officers and firefighters no longer can enter the Deferred Retirement Option Plan, known as DROP.” The plan is meant to keep officers and firefighters with more than 20 years of experience from retiring too young by redirecting their pension earnings to an account that guarantees a high annual interest rate.
“Those in the system by that date will remain there and continue reaping the rewards. The indefinite suspension for new entrants will begin because DROP is becoming too expensive, and a court recently threw out the pension board’s plan to fix it.”