Enjoy those pensions guys.
(From Michigan Capitol Confidential)
Over the past five years, a large number of participants have maxed out their six-year DROP eligibility and retired, collecting large lump sum payments in addition to a lifetime pension and health insurance benefits.
An analysis done by the Mackinac Center for Public Policy in 2017 showed that an worker with 25 years on the job and an annual salary of $109,000 would walk away with an additional $435,725 after six years in the DROP program.
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