A Philadelphia city councilman is considering legislation to freeze politicians’ DROP payments.
Councilman Frank DiCicco says if he had a second chance he wouldn’t have entered the DROP early retirement program.
“I thought four years ago after having fought a lot of fights, particularly the casino issue, that by the time I reached 65 and I’ll be 65 this May I’d be ready to retire, but not unlike other people, I’m not ready to retire,” said DiCicco.
Once enrolled, DROP participants are supposed to retire within four years. Upon retirement they get a lump sum and begin collection a pension. DiCicco says he is working on a bill to allow politicians to put their enrollment in DROP on hold indefinitely.
“I’m looking at potentially introducing legislation on Thursday, don’t have it yet, working on it that will give some options for people like myself who are in the DROP program,” he said.
DiCicco says he hopes his constituents understand he wants to continue working and re-elect him for another term.