We were curious what was going to happen to the DROP payment for Clerk of Quarter Sessions Vivian Miller, who yesterday announced plans to retire March 31.
Miller – whose office has come under fire for mismanagement – was enrolled in the controversial deferred retirement option plan. DROP allows participants to pick a retirement date up to four years in the future, at which point their pension benefit is frozen and they start accruing pension payments in an interest-bearing account. Workers then receive those payments in a lump sum when they retire.
Miller was scheduled to retire at the end of 2011. Her scheduled payment if she had stayed, would have been $286,287.50, according to the city. But now that she’s leaving early, the benefit will be $154,889.01.