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The Philadelphia Home Rule Charter reform campaign is a campaign in Philadelphia, Pennsylvania to rewrite the city's 1951 Home Rule Charter.The campaign began in response to several local political scandals, the most recent being City Council members' participation in DROP, a Deferred Retirement Option Plan originally intended for civil service.
Verna was the daughter of past council member William Cibotti and was elected to his seat following his death in 1975. [4]She drew criticism for her support of the Deferred Retirement Option Plan (DROP), which deferred compensation for city employees allowing municipal employees to forgo some pension payments in lieu of a lump-sum payment on the date of their retirement.
The memo, the first ever mass message to all roughly two million federal employees, offered a deferred resignation program for those unwilling to work under the second presidency of Donald Trump. The memo led to confusion about its authorship and legality, with several federal employee labor unions and political leaders advising employees not ...
Quick Take: Retirement Plan Options. ... Federal Thrift Savings Plan. Nonqualified Deferred Compensation Plans, or NQDC. 401(k) Plan. Simple 401(k) Plan. 403(b) Tax-Sheltered Annuity Plan.
Unfortunately, much of his assets are locked in tax-deferred accounts such as IRAs (Individual Retirement Accounts), 401(k) plans and 457(b) plans. These tax-deferred assets are collectively worth ...
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Upper-management officers, through the Deferred Retirement Option Plan (DROP), can retire at age 48 and receive 60-72 percent of their salary as a pension, and still have the option of working and earning a salary. The program allows these officers to receive lump sums of $1 million, with annual raises of 3 percent.
Currently, PICA staff tracks overtime usage and management across City departments, issuing a quarterly Staff Report on City of Philadelphia Overtime. Recently, PICA has issued a report on the cost of Philadelphia's Deferred Retirement Option Plan (DROP), and staff reports on the City's pension system and departmental performance.