Tell the House Retirement Committee: Don't stop DROP!
Tell the House Retirement Committee to vote "NO" on HB 584
Bill would prohibit members of state retirement systems from participating in DROP
There's no good reason to end the popular DROP option.
House Bill 548 by the Speaker of the House, Rep. Jim Tucker (R-Terrytown) would prohibit members of the state retirement systems from participating in the Deferred Retirement Option Plan from July 1, 2009 through June 30, 2012.
Under the DROP option, eligible employees may officially retire, but keep working at their jobs for another three years. During that period, their retirement checks are deposited into special accounts that may not be accessed until the end of the DROP period. When they actually retire, they have a sizable nest egg waiting for them.
During that time, no retirement contributions are deducted from their pay checks, and their employers do not have to pay into the retirement system on their behalf.
School boards like the DROP plan. In a time of teacher shortages, they are able to keep veterans working in schools for another three years, and they don 't have to pay retirement benefits on those employees.
The retirement systems have no objection to DROP because the option costs them nothing.
So why does Speaker Tucker want to end the popular program? That question has capitol insiders scratching their heads. There is simply no reason for this mean-spirited assault on a popular employee benefit.
The bill will soon be heard by the House Retirement Committee. Please click on the link and tell members to vote NO on HB 584 and save the DROP option!
| Sample Letter for Campaign |
Subject: Please vote "NO" on HB 584!
Dear [ Decision Maker ] ,
Please vote "NO" when HB 584 by Rep. Jim Tucker comes before the House Retirement Committee.
The DROP option is very popular among teachers and school employees. It allows them to build up a retirement nest egg.
School boards like DROP because they can keep valuable employees in a time of teacher shortages.
The retirement systems have no objection to DROP because it costs them nothing extra.
There is no justification for abandoning such a popular program. It hurts no one, and does a lot of good for people who plan to retire soon.
Please vote NO when HB 584 is heard by the House Retirement Committee!
Sincerely,
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