Richmond VA > Retirement > Defined Benefit Plan > DROP Option

Last Updated: 2013-06-24

Entering 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 (RRS). 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 RRS. You should include the following documents and information with your retirement packet:

  • Provide proof of age, preferably your birth certificate
  • If you select a survivor option, also provide a copy of your survivor's birth certificate.
  • Photo Identification, if you attend a counseling session
  • Social Security number, birth date and address for your beneficiary(ies)

Review the DROP Entry Checklist thoroughly. Complete and return the following forms to

Richmond Retirement System
900 E. Broad Street, Room 400
Richmond, VA 23219

The application packet consists of the following forms:

View a sample of a completed DROP entry application.

Exiting DROP

The DROP guidelines stipulate that you should provide a 60-day notice of your intent to exit the program to your department and the RRS. 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.

Review the DROP Exit Checklist thoroughly prior to completing and submitting your forms.

Complete and return all applicable forms to the RRS.

All account disbursements will be on the last working day of the month following your exit from DROP.

Contact Information:

Richmond Retirement System
City of Richmond
730 E. Broad Street, Suite 900
Richmond, VA
23219 USA
Retirement
Phone: (804)646-5958
Fax: (804)646-5299

Toll-Free (Outside Central Virginia): (888)288-2781
Office Hours: By Appointment Only
Monday - Friday
8:00 a.m. - 5:00 p.m.
Walk-in Visits:
Monday - Friday
10:00 a.m. - 12:00 p.m.
and 1:00 p.m. - 3:00 p.m.

More Contact Information

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