Saturday, October 10, 2015

PLOP fizzes

The introduction of yet another odious acronym

PLOP fizzes

Blog Image

As City Council assures that the legacy of the controversial DROP program continues -- loved by city employees, loathed by taxpayers -- we learn of a new cringeworthy acronym: PLOP.

On Wednesday, not only did Council offer preliminary approval of a bill extending DROP -- "controversial" should just be amended to the program -- it also introduced PLOP, Partial Lump Sum Option.

"PLOP would allow workers to take an additional lump sum out when they retire," reports The Inquirer's Jeff Shields and Troy Graham. "Employees could take up to three years worth of pension payments upon retirement, which would be subtracted from future pension checks."

In other words, front-loading payment of retirement benefits. What happens if the city is facing particularly hard times yet there's a run at the bank of this benefit? 

So now we have a new perk to love. The acronym is reminiscent of   the Alka-Seltzer jingle "Plop plop, fizz fizz, oh what a relief it is."

Except PLOP is most likely to do just the opposite for taxpayers, giving them additional agita. Which, in turn, would require the need for the antacid.

--Karen Heller 




We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog
Blinq is a news commentary blog featuring contributions from Inquirer Metro columnists Kevin Riordan and Daniel Rubin.

Kevin Riordan Inquirer Columnist
Daniel Rubin Inquirer Columnist
Also on
letter icon Newsletter