A member who elects to enter the DROP shall agree to the following:
- (1) The member shall execute an irrevocable election to retire on the DROP retirement date and shall remain in active service until that date.
- (2) While in the DROP, the member shall continue to make contributions to the applicable fund under the provisions of that fund.
- (3) The member shall elect a DROP retirement date not less than twelve (12) months and not more than thirty-six (36) months after the member's DROP entry date.
- (4) The member may not remain in the DROP after the date the member reaches any mandatory retirement age that may apply to the member.
- (5) The member may make an election to enter the DROP only once in the member's lifetime.
As added by P.L.62-2002, SEC.5.