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Just a DROP In The Bucket
Posted: Fri Mar 04, 2011 11:10 am
by Bill Call
Here is some information on the secretive DROP program:
http://www.op-f.org/DropCalculator/DROP ... rPage.aspx
Re: Just a DROP In The Bucket
Posted: Wed Mar 09, 2011 3:06 pm
by Bill Call
The example understates the cost for a City like Lakewood.
In 2005 I got a list of the 138 City employees who made more than the Mayor.
Number 24 was a police sergeant who made $82,500 per year. The total earned under the drop program for the full eight years would be about $600,000. Plus at least $660,000 in wages plus another $112,000 in pension benefits plus another $96,000 in health benefits.
That's $1,468,000 in pay and benefits over an 8 year period, an average of about $183,500 per year.
Seems very generous to me. Senator Sherrod Brown says questioning those benefits is no different than putting people in concentration camps so maybe I'd better not ask any questions.
Re: Just a DROP In The Bucket
Posted: Wed Mar 09, 2011 3:52 pm
by Charlie Page
Bill Call wrote:The example understates the cost for a City like Lakewood.
In 2005 I got a list of the 138 City employees who made more than the Mayor.
Number 24 was a police sergeant who made $82,500 per year. The total earned under the drop program for the full eight years would be about $600,000. Plus at least $660,000 in wages plus another $112,000 in pension benefits plus another $96,000 in health benefits.
That's $1,468,000 in pay and benefits over an 8 year period, an average of about $183,500 per year.
Seems very generous to me. Senator Sherrod Brown says questioning those benefits is no different than putting people in concentration camps so maybe I'd better not ask any questions.
I’m not a hundred percent sure on this but I believe that under the DROP program a lump sum is distributed rather than monthly pension payouts. Also, the calculator said you have to have a minimum of 25 years of service which includes the years registered in the DROP program. So it’s not like you work 8 years making 82k per year and then retire comfortably. If so, there would be a lot of 30 year olds with their pants pulled up high sitting on park benches in Florida
