§ 31770.2. — 31770.2. (Added by Stats. 2003, Ch. 897, Sec. 1.)

California § 31770.2.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 4.
• Title 3.: DIVISION 4. EMPLOYEES
• Part 3.: PART 3. RETIREMENT SYSTEMS
• Ch. 3.: CHAPTER 3. County Employees Retirement Law of 1937
• Art. 11.5.: ARTICLE 11.5. Deferred Retirement Option Program

Text

Unless the context otherwise requires, the definitions contained in this section govern the construction of this article:
(a)
“DROP” or “program” means the Deferred Retirement Option Program established by this article, as adopted by a county or district.
(b)
“Election date” means the date the member elects to participate in the program.
(c)
“Deferred retirement calculation date” means the date prior to the member’s actual retirement date, as of which benefits under the program shall be calculated as provided in Section 31778.1.
(d)
“Implementing ordinance” means the ordinance or resolution adopted by the county board of supervisors or governing board of the district, pursuant to Section 31770.3, providing for the implementation of the program in the county or district and specifying the applicable program options as provided in this article.
(e)
“Participant” means any eligible safety member of the system described in Section 31469.4, 31470.2, or 31470.4 who has validly elected to participate in the program.
(f)
“Program account” means the account established by the system for each participant of the program pursuant to Section 31772.
(g)
“Program period” means the period of time commencing on the election date and ending on the member’s retirement date, which period may not exceed 60 months of elapsed time.
(h)
“Retirement date” means the date the member terminates employment and retires from the system.

Legislative History

Added by Stats. 2003, Ch. 897, Sec. 1. Effective January 1, 2004.