Deferred Retirement Option Program Brochure
Administrative Guidelines
Entering the DROP
This section will provide you with the information needed to enter the DROP. Remember,
the DROP guidelines stipulate that you must provide a 60-day notice of your intent to enter
the program to your department and the Richmond Retirement System (the System). Therefore, you should
submit your DROP retirement application at least 60 days but no more than 90 days prior to your entry
into the program. Failure to comply with this requirement will delay your request to retire and enter DROP.
Once you have finalized your decision to retire, you may schedule a counseling session to complete your
retirement application or you may mail it to the System. You should include the following documents and
information with your retirement packet:
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Provide proof of age (preferably your birth certificate)
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Note: If you select a survivor option, also provide a copy of your survivor’s birth certificate.
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Photo Identification (if you attend a counseling session)
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Social Security number, birth date and address for your beneficiary(ies)
Process for Entering the DROP:
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Review the DROP Entry Checklist thoroughly then complete and return the following forms to the
Richmond Retirement System at 900 E. Broad Street, Room 400, Richmond, Virginia 23219.
DROP Retirement Application
DROP Unused Sick Leave Election Form
Beneficiary Appointment/Change Form
View a sample of a completed DROP entry application.
Exiting the DROP
This section will provide you with the information needed to exit the DROP.
Remember, the DROP guidelines stipulate that you should provide a 60-day notice
of your intent to exit the program to your department and the Retirement Office.
Therefore, you should submit your DROP Disbursement Election Form at least 60 days
prior to your last day at work. Failure to comply with this requirement may delay
the disbursement of your benefits.
Steps for Exiting the DROP:
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Review the DROP Exit Checklist thoroughly prior to completing and submitting your
forms.
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Complete and return all applicable forms to the Richmond Retirement System at 900 E. Broad Street, Room 400,
Richmond, Virginia 23219.
- All account disbursements will be on the last working day of the month following your exit from the DROP.
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