Also known as the Deferred Retirement Option Plan, DROP is a program offered to Police Officers and Firefighters contributing to the Los Angeles Fire and Police Pension (LAFPP) system. When retiring from City service, you’ll need to decide whether to cash out your account or transfer the funds to a retirement program like the Deferred Compensation Plan.
By transferring your funds to the Plan, you will benefit from a professionally managed program that includes a dedicated service team, vetted investments, and low fees. By transferring to the Plan, you will defer taxation on the balance until you start withdrawing funds.
To learn more about transferring DROP funds into the Plan, please contact a local Retirement Counselor at 213-978-1601. You can also register to attend a DROP seminar.