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This document is a form for members of the Richmond Retirement System to elect how they would like to handle their unused sick leave benefits upon entering the Deferred Retirement Option Program (DROP).

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How to fill out deferred retirement option program

How to fill out DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS

01

Obtain the DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS form from your employer or retirement office.

02

Read the instructions carefully to understand the eligibility criteria and benefits associated with the DROP program.

03

Complete the personal information section, ensuring to provide accurate details such as your name, employee ID, and contact information.

04

Indicate your desired election regarding sick leave benefits by selecting the appropriate options as outlined in the form.

05

If applicable, provide supporting documentation that may be required for your sick leave benefits election.

06

Review all information for accuracy and completeness before submitting the form.

07

Submit the completed form to your HR department or the designated retirement office by the specified deadline.

Who needs DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS?

01

Employees who are considering retirement but wish to continue working for a limited time while benefiting from accumulated sick leave.

02

Workers approaching retirement age who want to utilize their sick leave benefits effectively during the DROP period.

03

Participants in the DROP program who need to decide how to elect and manage their sick leave benefits before final retirement.

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What is DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS?

The DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS is a program that allows eligible employees to defer their retirement benefits while still actively working, utilizing their accumulated sick leave benefits as part of their retirement calculation.

Who is required to file DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS?

Employees who are eligible for retirement and wish to participate in the DROP program must file the DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS.

How to fill out DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS?

To fill out the DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS, employees must complete the required forms with personal information, specify their chosen sick leave benefits election, and submit it to their HR department before the deadline.

What is the purpose of DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS?

The purpose of the DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS is to allow employees to maximize their retirement benefits while still employed, providing them with an option to utilize their sick leave as a financial resource.

What information must be reported on DEFERRED RETIREMENT OPTION PROGRAM (DROP) ELECTION OF SICK LEAVE BENEFITS?

The information that must be reported includes the employee's personal details, retirement eligibility date, sick leave balance, and the election choice regarding the use of sick leave benefits in the DROP program.

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