Common use of DROP Clause in Contracts

DROP. Members who enter the DROP after the effective date of the plan changes will earn interest on their DROP balance at a rate equal to the market rate of return on pension fund investments for the preceding plan year, net of all investment-related expenses, with a maximum of 3% and a minimum of 1%.

DROP. Members who enter the DROP after the effective date of the plan changes will earn interest on their DROP balance balance, at a rate equal to the market rate of return on pension fund investments for the preceding plan year, net of all investment-related expenses, with a maximum of 3% and a minimum of 1%.