Option Program definition
Examples of Option Program in a sentence
If an employee is being paid annual leave as a result of entering the Deferred Retirement Option Program (DROP), the maximum payout of annual leave shall not exceed the statutory maximum of 500 hours.
The Parties agree to establish a Deferred Retirement Option Program (DROP) generally consistent with the principles and structure of the existing program for Fire and Police personnel.
A non-reappointment, including the non-reappointment of annual contract teachers who have completed the Deferred Retirement Option Program, shall not be construed as a layoff, nor shall a transfer (voluntary or involuntary) or a reassignment.
Employees not eligible to participate in the Phased Retirement Program include those who have received notice of non-reappointment, layoff, or termination and those who participate in the State's Deferred Retirement Option Program (DROP).
Employees who are participants in the Deferred Retirement Option Program (DROP) shall not be subject to sections A., B., D., and E.