Philadelphia City Council aiming to cut cost of DROP

Now that the primary is over, Philadelphia City Council is concentrating on a major thorn in its side–DROP.

Most of council wants to revise the early retirement incentive known as DROP is instead of eliminating it. Councilman Darrell Clarke saidthe revisions are designed so the program will not cost the city extra. One change could cut the interest rate participants earn on their DROP accounts.

“There may be some conversations about changing the behavior i-e moving the eligibility age back,” said Clarke.

Council President Anna Verna said she’s waiting to see what happens.

“If it’s revenue neutral I don’t know how it bothers anybody,” Verna said.

Mayor Michael Nutter said DROP must end.  “This has been studied to death, we need to kill it. I do not believe you can make this program revenue neutral,” he said.

Sources saidthe mayor will veto anything but a complete elimination of DROP. Councilman Clarke saidhe and others want the issue resolved before they head to summer recess on June 16th.

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