Texas SB1529 amends the Deferred Retirement Option Plan (DROP) for police and fire fighters in certain municipalities.

Texas SB1529 amends the Deferred Retirement Option Plan (DROP) for police and fire fighters in certain municipalities. The bill modifies the crediting of retirement pensions to DROP accounts, ensuring that amounts are credited monthly. It also specifies that members with 20 or more years of DROP participation will no longer have their retirement pensions credited to their DROP accounts. The changes apply regardless of when members began DROP participation, with an effective date of September 1, 2025.

Texas SB1529 amends the Deferred Retirement Option Plan (DROP) for police and fire fighters in certain municipalities.

Texas SB1529 amends the Deferred Retirement Option Plan (DROP) for police and fire fighters in certain municipalities. The bill modifies the crediting of retirement pensions to DROP accounts, ensuring that amounts are credited monthly. It also specifies that members with 20 or more years of DROP participation will no longer have their retirement pensions credited to their DROP accounts. The changes apply regardless of when members began DROP participation, with an effective date of September 1, 2025.