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Under FERS, just as with an immediate or early retirement annuity, a deferred annuity benefit will be based on the high-3 average salary. The benefit is calculated ing to this formula: . 01 x high-3 x years of creditable service.
What is the city of Houston deferred retirement option plan?
The Deferred Retirement Option Plan (DROP) is an optional retirement method for HMEPS members who have reached their normal retirement eligibility (age and years of credited service) but do not want to retire. It is an alternative method of accumulating and receiving a pension benefit from HMEPS.
WHat does deferred retirement benefits mean?
Deferred retirement option plans (DROPs) are of benefit to both employees and employers. In exchange for continuing to work past your eligible retirement age, an employer will set aside annual lump sum payments into an interest-bearing account.
WHat is the city of Houston Deferred Compensation Plan?
The City of Houston 457 Deferred Compensation Plan is a powerful tool to help you reach your retirement dreams. As a supplement to other retirement benefits or savings that you may have, this voluntary Plan allows you to save and invest extra money for retirement through before-tax and after-tax contributions.
What is the impact fee administration in Houston?
The Impact Fee Administration, a section of Infrastructure Development Services, manages wastewater flows through Wastewater Capacity Reservations (WCR), manages water demands through water commitment letters, and plans the near and long term facilities requirements to assure reliable service for today and the future
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People also ask
How does the deferred retirement option plan work?
WHat Is DRoP? The Deferred Retirement Option Plan (DROP) is a voluntary program that allows you to have your monthly pension benefit deposited in an interest-bearing account while you continue to work in your current department and receive your salary and benefits as an active employee .
Related links
Volume 13, Issue 2 August 2012
by JL Huck 2012 The goal of WCR is to provide an attractive and meaningful outlet for academic and policy related publication and dialogue in a wide variety of.
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