DROP period definition

DROP period means the period of time that a member irrevocably elects to participate in the DROP pursuant to K.S.A. 74-4986n, and amendments thereto;
DROP period means the period of time that a member irrevocably elects to participate in the DROP
DROP period means the three-year period immediately following the commencement of the member's participation in the DROP.

Examples of DROP period in a sentence

  • The employee’s monthly retirement benefits (for the DROP period) plus applicable post retirement adjustments and interest at an annual rate of 5.0%, compounded monthly, is payable upon the employee’s termination of service.

  • The DROP period is the time between the backward DROP retirement date and the date the employee terminates service.

  • The Employer must consent to the Member’s continued employment after the DROP period.

  • Participation in the DROP does not guarantee my employment for the DROP period.

  • During the DROP period the member’s retirement benefit is frozen and a DROP benefit is credited to a DROP account established for the member.


More Definitions of DROP period

DROP period means the number of months between the actual retirement date under the DROP and the Member’s date of Withdrawal from Service.
DROP period means the period of time that a member irrevocably elects to participate in the DROP subject to the provisions of [section 4].
DROP period means the period during which a DROP member
DROP period means the period beginning with the first day of the month the member commences participation in DROP and ending with the last day of the month in which the member’s participation in DROP terminates.
DROP period means the period of time that a member
DROP period means the identified time that the pre-employment student may with- draw from the academy pre-employment program and be considered for a partial or full refund of tuition monies paid.
DROP period means the period beginning as of the participant’s written election notice as approved by the Employer and continuing until that participant’s separation from employment of the Employer (his resignation date), but in no event shall such period exceed 60 months.