"Drop Frozen Benefit"

  1. Law
  2. Indiana Code
  3. Local Government
  4. Public Safety
  5. Deferred Retirement Option Plan (Drop)
  6. "Drop Frozen Benefit"

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Sec. 7. As used in this chapter, "DROP frozen benefit" means a member's monthly retirement benefit calculated under the provisions of the applicable fund and based on:

(1) the salary of a first class officer or firefighter that is in effect on the member's DROP entry date; and

(2) the member's years of service accrued on the member's DROP entry date.

As added by P.L.62-2002, SEC.5.


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