Common use of Deferred Retirement Option Plan (DROP Clause in Contracts

Deferred Retirement Option Plan (DROP. Subject to mutual agreement of the parties the State agrees to investigate the feasibility of a “DROP” program. Should the parties agree to a “DROP” program, no costs shall be borne by the State.

Appears in 4 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Labor Contract

Deferred Retirement Option Plan (DROP. Subject to mutual agreement of the parties parties, the State agrees to investigate the feasibility of a Deferred Retirement Option Plan (DROP” program). Should the parties agree to a “DROP” program, no costs shall be borne by the State.

Appears in 3 contracts

Sources: Collective Bargaining Agreement, Labor Contract, Collective Bargaining Agreement