HOW IS THE DROP ACCOUNT MONEY PAID OUT AND DISTRIBUTED?
When you leave the Department, your money will be distributed as you choose in one of the following ways: A check for the entire amount (less applicable withholding) will be made payable to you, or (if you prefer) electronically transferred to a bank or credit union account in your name, or The contents of your account will be transferred, in whole or in part, by the Pension Fund to an Individual Retirement Account (IRA) in your name, or The contents of your account will be transferred, in whole or in part, by the Pension Fund to an IRS qualified retirement plan (such as an employer-sponsored 401(k) plan), or The contents of your account, in whole or in part, can be left with the Fund. The Fund will account for your assets and you will earn interest at the same rate as normally calculated under the DROP. If you choose to leave your money in the Fund, you can make four withdrawals during the calendar year (January to December). If you make a fifth withdrawal within a calendar year, you
