Tasco said the amended DROP will provide savings.
"If we don't pass it, we keep what we already have," said Tasco, who is set to "retire" for a day and collect a $478,057 DROP payment before returning in 2012 for another term - a practice that has drawn public criticism.
Council's bill passed, 14-3, so it should have the 12 votes needed for a veto override. The legislation would delay entry into DROP for nonuniformed workers and would lower the earned interest rate for future participants. Council's consultant predicted the changes would carry a one-time cost of $15 million to $20 million.
Nutter said he still wanted to abolish DROP, pledging that "as long as there is a DROP program, I am going to work tirelessly to end that program and stop the additional cost that comes with it."
DROP allows city workers to set a retirement date up to four years in the future, at which point their pension benefit is frozen and they start accruing payments in an interest-bearing account while on the payroll. When the employees retire, they collect a lump sum and start receiving pension payments.
On another issue, it wasn't clear if Councilman Bill Greenlee had the votes to override a veto of legislation that would require employers to provide paid sick leave. Greenlee said yesterday that he was continuing to seek support.
- Staff writer Jan Ransom
contributed to this report.
