DROP (Deferred Retirement Option Plan) Information

Senate Bill 340 affects Drop participants

Thinking of participating in DROP in 2013? The implementation of Senate Bill 340 affects DROP participants, particularly those who may become eligible to participate in 2013. July 1, 2013 signals new DROP rules.

If you wish to enter DROP prior to July 1, 2013, please be aware:

Members must submit their DROP election form so it is received at OP&F not later than the last day of the last full pay period ending date in June 2013, provided it is not June 30, 2013. For monthly and semi-monthly pay periods, the DROP election must be submitted before the last day in May 2013. Members must be eligible for DROP by these dates.For the answers to frequently asked questions on SB 340 changes, click here.

Beginning with the 2nd quarter of 2012, OP&F will use a variable interest rate for DROP and re-employed retiree accounts.

The interest rate for the period of April 1 through June 30, 2013, will be 1.87%.

The Deferred Retirement Option Plan (DROP) is an optional benefit that allows eligible police officers and firefighters to accumulate a lump–sum of money for retirement. The Ohio Police & Fire Pension Fund (OP&F) is proud to offer this benefit to its membership, which has been the most requested addition to OP&F's benefit offerings in many years.

The popularity of DROP programs has grown across the country since public sector employers first introduced them in the 1980s. Based on tremendous member request, OP&F has put in place a beneficial program without additional cost to members, their employers or OP&F. Thanks to member persistence, the support of member unions and associations and the receptive Ohio Legislature, the Governor signed Senate Bill 134 into law in 2002, which enabled OP&F to begin offering DROP in 2003.

Enrolling in DROP is a voluntary decision that members should make after careful consideration of their own individual situation. OP&F strongly encourages all members to seek financial, legal and tax advice from professional counselors before entering DROP.

Online Resources

Frequently asked questions about DROP

2013 DROP Interest Rates
Quarter	Interest Rate
1st	1.78 %


2nd	1.87 %

2012 DROP Interest Rates
Quarter	Interest Rate
2nd	2.23 %
3rd	1.67 %
4th	1.65 %

Use OP&F Online to view your DROP contributions. OP&F updates your account information every night with the information we have on file, however, we have no control over when your contributions may be sent from your employer. Interest on your DROP account is calculated during the first week of each month. Click here to go to OP&F Online.