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Permissive Service Credit with Retro DROP

The recommendation of the Goals and Objective Committee to end combined use of permissive service credit and Retro DROP to become effective one year from now was not approved by the Board of Trustees. The Board commissioned an actuarial study of the economic impact of this benefit on the System and will re-address the issue at the February 18, 2015 meeting of the Board. At that time, the Board may take action to end the benefit immediately as is permitted by the language of pension plan document. Any member with an interest on this benefit should be aware of this possible action by the Board.

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