Indiana Code
Chapter 8.5. Deferred Retirement Option Plan (Drop)
36-8-8.5-10. Drop Election Requirements

Sec. 10. A member who elects to enter the DROP shall agree to the following:
(1) The member shall execute an irrevocable election to retire on the DROP retirement date and shall remain in active service until that date.
(2) While in the DROP, the member shall continue to make contributions to the applicable fund under the provisions of that fund.
(3) The member shall elect a DROP retirement date not less than twelve (12) months and not more than thirty-six (36) months after the member's DROP entry date.
(4) The member may not remain in the DROP after the date the member reaches any mandatory retirement age that may apply to the member.
(5) The member may make an election to enter the DROP only once in the member's lifetime.
As added by P.L.62-2002, SEC.5.

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