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DROP Spreadsheet
(Opens in a New Window)
Instructions: The spreadsheet was created in Excel 7.0 and is usable
with Windows 95 or later versions of the Windows operating systems. This
interactive spreadsheet can assist you in estimating the amount you can
accumulate under the Deferred Retirement Option Program (DROP).
To use this spreadsheet, open it in your browser or download it to your
computer. (If you have Excel and your browser permits, you may be able
to use the sheet within your browser by simply left-clicking on the link
above. If not, you may right-click on the link above and save the file
to a folder on your PC, where you can open it within Excel (or another
spreadsheet program if the file is accepted by the program).
When the worksheet opens, enter the amount of your estimated monthly
retirement benefit, the number of months you expect to participate in
the DROP (maximum of 60 for police officers and 96 for firefighters) and
any interest rate of your choosing in the X.XX format (i.e. 6.25, 7.50,
etc.). Based on the information you enter in the white boxes, the
spreadsheet will automatically estimate the amount you could
hypothetically accumulate in your DROP account, using the criteria you
entered, and display the result.
You may save your worksheet results locally.
DISCLAIMER: The DROP accumulator will be based on the figures you enter
in the three white boxes.
There is no guarantee that your actual account balance will equal the
hypothetical balance calculated in this worksheet for the following
reasons:
1) Your actual benefit amount will not be calculated until the board has
approved your written application to participate in the DROP, your final
payroll for retirement purposes has been posted and you have selected
your final benefit payment option.
2) The plan sets a maximum participation period based on your job
classification (police or firefighter) but you may choose to retire
earlier and therefore not participate as long as you might have
originally planned.
3) The actual earnings in your DROP account will be determined on a
quarterly basis and will depend on whether you self-direct or accept the
fund rate. ALL FUNDS PAID INTO AND EARNED BY DROP ACCOUNTS ARE SUBJECT
TO MARKET AND INVESTMENT RISK. PAST INVESTMENT PERFORMANCE IS NO
INDICATION OR GUARANTEE OF FUTURE INVESTMENT PERFORMANCE.
© 2006-2012 Pompano Beach Police &
Firefighters' Retirement System
All Rights Reserved.
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