Texas HB3280 amends the deferred retirement option plan for police and fire fighters, adjusting crediting rules for retirement pensions.

Texas HB3280 modifies the rules for the deferred retirement option plan (DROP) for police and fire fighters in certain municipalities. It ensures that each month, after a member has elected to participate in DROP and indicated a desire to receive a retirement pension, an amount equal to the pension they would have received if they had left active service is credited to their DROP account. This applies to members regardless of when they began participating in the plan.

Texas HB3280 amends the deferred retirement option plan for police and fire fighters, adjusting crediting rules for retirement pensions.

Texas HB3280 modifies the rules for the deferred retirement option plan (DROP) for police and fire fighters in certain municipalities. It ensures that each month, after a member has elected to participate in DROP and indicated a desire to receive a retirement pension, an amount equal to the pension they would have received if they had left active service is credited to their DROP account. This applies to members regardless of when they began participating in the plan.