Norfolk Employees’ Retirement System members, are you thinking about retirement? Consider building extra savings with the Deferred Retirement Option Program.
All eligible NERS members can elect to participate in the DROP at the same time they apply for their Normal Service Retirement.
DROP lets you continue working in your full-time position for the City as an official NERS retiree. You will earn active employee wages and benefits, in addition to a deferred NERS retirement allowance. For each month you continue to work for the City as a DROP participant, 70% of your monthly NERS retirement allowance will be credited to your DROP account for a deferred disbursement.
You can participate in the DROP for up to 60 months if you do not exceed age restrictions.
When you exit the DROP, at the end of your active employment with the City, your DROP account balance is paid to you and you will begin receiving your full monthly NERS benefit.
Click here for FAQs, including more information about DROP, eligibility requirements and application instructions.
For retirement planning assistance, contact Retirement at retirement@norfolk.gov or 757-664-4738.