Retirement

Also relevant to:Senior (65+, Medicare/SS)

Where it is in the process

Plain-English Summary

Authorizing an elected officer, except while serving as a legislator, to remain in elective office and receive accumulated Deferred Retirement Option Program (DROP) proceeds after the officer attains a certain age; requiring the Division of Retirement or the State Board of Administration, as appropriate, to take steps to recoup from the elected officer any DROP proceeds distributed in accordance with a specified provision, under specified circumstances; revising the cost-of-living adjustment for…

Source: OpenStates · fetched February 20, 2026

Who it affects

Senior (65+, Medicare/SS)

Allows elected officers who are seniors to remain in elective office and receive accumulated DROP proceeds after reaching a certain age.

W-2 worker (non-union)

Modifies the Deferred Retirement Option Program (DROP) for elected officers, impacting their retirement proceeds and potential recoupment of funds.

AI-extracted

Who This AffectsAI analysis

Senior (65+, Medicare/SS)directModerate impactHigh certainty
Allows elected officers who are seniors to remain in elective office and receive accumulated DROP proceeds after reaching a certain age.
“Authorizing an elected officer, except while serving as a legislator, to remain in elective office and receive accumulated Deferred Retirement Option Program (DROP) proceeds after the officer attains a certain age”· General Provisions
W-2 worker (non-union)directModerate impactHigh certainty
Modifies the Deferred Retirement Option Program (DROP) for elected officers, impacting their retirement proceeds and potential recoupment of funds.
“to remain in elective office and receive accumulated Deferred Retirement Option Program (DROP) proceeds after the officer attains a certain age”· General Provisions
“requiring the Division of Retirement or the State Board of Administration, as appropriate, to take steps to recoup from the elected officer any DROP proceeds distributed in accordance with a specified provision, under specified circumstances”· General Provisions

What the Bill Does

Authorizes elected officers (excluding legislators) to remain in office and receive DROP proceeds after reaching a certain age.
Requires recoupment of DROP proceeds under specified circumstances.
Revises cost-of-living adjustments for certain benefits.

Votes

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