Bill > HB33

This bill modifies the Back-Deferred Retirement Option Plan (Back-DROP) within the Sheriffs' Pension and Relief Fund, which is a retirement savings program for sheriffs. Specifically, it adjusts the maximum duration a member can participate in the Back-DROP period, which is the most recent period of service before retirement that is used to calculate retirement benefits. Previously, the maximum Back-DROP period was generally 36 months, or the creditable service earned after becoming eligible for regular retirement, whichever was less. This bill now allows members with at least 30 years of service but less than 35 years to choose a Back-DROP period of up to 48 months, and those with 35 or more years of service can select a Back-DROP period of up to 60 months, with both options still capped by the amount of creditable service accrued after becoming eligible for regular retirement.