Miami Police Chief Miquel Exposito: “DROP and Stay” or “DROP and Go?”

Deferred Retirement Option Plan commonly known as the “DROP” provides you with an alternative method for payment of your retirement benefits for a specified or limited period if you are an eligible Florida Retirement System (FRS) Pension Plan member.

If you hold an elected office at the end of your DROP participation; you must fulfill the termination requirement as provided in s. 121.021(39), F.S.

In spite of the fact that Chief Exposito could walk away with close to a million dollars, he is convinced that he will not have to retire in January 2012. Chief Exposito appears to believe that he has the upper hand and he will not have to retire on January 09, 2012. Without the legal experts from each side looking at the contracts, it’s hard to determine, who is in fact correct. However, this is not a complicated issue. There is not a lot of wiggle room for subjective interpretation.

So, the question remains, “Was an extension clause written with respect to the DROP program, within Miami Police Chief Miquel Exposito existing contract and under what terms?”

As always, when you mention the name Miquel Exposito, regardless of the subject matter, you know from its inception that this conversation will be continued.