19-6-1004. Eligibility -- participation criteria -- membership status -- service interruptions. (1) Any member eligible to retire under 19-6-501 is eligible for and may elect to participate in the DROP by filing a one-time irrevocable election with the board on a form prescribed by the board.
(2) A member electing to participate in the DROP shall participate for a minimum of 1 month and may not participate for more than 5 years.
(3) A member may participate in the DROP only once.
(4) A participant in the DROP remains a member of the retirement system but may not receive membership service or service credit in the system for the duration of the participant's DROP period.
(5) If participation is interrupted by military service or disability before the participant retires, then the duration of the absence may not be included in calculating the DROP period.
History: En. Sec. 4, Ch. 258, L. 2015.