Saturday, July 4, 2015

Councilwoman Wants City Workers To Drop DROP Panic

Council is today taking up the DROP issue – sort of.

Councilwoman Wants City Workers To Drop DROP Panic

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Council is today taking up the DROP issue – sort of.

Councilwoman Marian Tasco today introduced a resolution that promises city workers that even if the Deferred Retirement Option Plan is eliminated, there will be a window of opportunity for eligible workers to enroll. The move was approved by Council.

“What we want to say is don’t rush,” said Tasco, noting that about 1200 city workers have applied for the controversial retirement perk since Mayor Nutter called for the program’s elimination in August. She said she was concerned about the impact of mass retirements on the pension fund.

Nutter sent legislation to Council that would kill DROP after an administration-commissioned study from Boston College reported that the program has cost the city $258 million in extra retirement costs since its inception in 1999.

Council – which has six members currently enrolled in DROP -- has sought an independent review of the study and has not yet scheduled hearings. Tasco said she expected to have the information soon.

To be eligible to enroll in DROP, a city worker must have reached retirement age and have at least ten years of service.
 

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William Bender, a Drexel graduate who landed at the Daily News in 2007, has covered everything from South Philly mobsters to doomsday hucksters. He occasionally writes about local food trucks and always eats everything on his plate, whether it be a bloody rib eye or a corrupt politician. E-mail tips to benderw@phillynews.com
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David Gambacorta, has been a reporter with the Daily News since 2005, covering crime, police corruption and all of the other bizarre things that happen in Philadelphia. Now he’s covering the 2015 mayor’s race, because he enjoys a good circus just as much as the next guy. He’s always looking to get a cup of coffee. Send news tips and other musings on life to gambacd@phillynews.com
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