A Philadelphia City Councilman wants to put an end to elected officials using the city’s early retirement plan.
A Philadelphia City Councilman wants to put an end to elected officials using the city’s early retirement plan.[audio: 100225TMDROP1.mp3]
Councilman Bill Green’s initial proposal tried to eliminate the ability of elected officials to enter the Deferred Retirement Option Plan or DROP. Currently six members of council will receive six-figure payouts through the plan. Councilman Green says the new bill puts an end to it for all future elected officials, but would exempt those currently in office.
Green: This bill complies with state law it has DROP only applied to people elected before September 9th 2009 which is the state law requirement. It does not allow you to take DROP before 60 which is different from the current Philadelphia law, it’s currently 55, and if you leave your current office before 60 you will not be eligible for DROP, even if you stay a city employee.
Councilman Green says he feels his earlier bill prompted state officials to limit early retirement programs for elected officials – even though it never got off the ground.