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

• Monroe County School District’s DROP Participants • DROP participants’ Terminal Sick Leave Pay/Annual Leave will be processed as follows: • Annual Leave – Employees participating in DROP have the option to (1) receive their Annual Leave as a lump sum distribution at the time of enrollment in DROP or (2) receive a lump sum payment at the end of the DROP period.

• If option (2) is chosen (wait until end of DROP period), this dollar amount is not included in the FRS benefits calculation.

• These percentages would change according to the option chosen by the employee (i.e., a DROP participant could choose only a three-year DROP period, his or her funds would be deposited over the three-year period for a total of 100% by the end of that selection).

• This occurs by spreading of those funds over the 60 month DROP period.

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 during which a DROP member

DROP period means the period of time that a member

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 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 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.