SB563 HP&R AM #D1 3-2



    The Committee on Pensions and Retirement moved to amend the bill on page five, section twenty-five-a, line eighty-seven, following the word “design”, by adding a semicolon and the following “Provided, That if the employee is terminated for cause during the participation period, the member may terminate participation with thirty days notice and the deferred accumulation balance shall be paid without interest according to the DROP design”; and

    On page six, section twenty-five-a, line one hundred six, following the word “accumulates” and the period, by adding “During the period of time the member continues to work beyond the end of the DROP participation period with the consent of the employer, the employer shall continue to make regular contributions to the employee’s pension and relief fund.”.