For members who are retired and participate in the Deferred Retirement Option Plan (DROP), OP&F has specific deadlines on when to submit a distribution request in order to receive the funds in the 2022 calendar year.
DROP distribution requests for less than $300,000 must be received by Dec. 9, 2022 in order to issue the distribution by Dec. 16. For DROP distribution requests of $300,000 or more, OP&F needed to be in receipt of your DROP Distribution Request Form by Nov. 16 in order to ensure the DROP distribution was issued by Dec. 16.
All 2022 distributions will need to be processed and issued on or before Friday, Dec. 16. OP&F will not be issuing any distributions from Dec. 17 through Dec. 31. DROP Distribution Request Forms received after the cutoff dates may not be issued until after Jan. 1, 2023.Posted 12/5/2022