(1) Eligible members who wish to participate in the DROP must file a DROP information request with MPERA.
(2) The information request must include the member's:
(a) full name;
(b) social security number;
(c) mailing address;
(d) date of birth; and
(e) anticipated DROP period start date.
(3) MPERA will calculate estimates of the monthly benefit that would have been payable to the member had the member terminated employment and retired at the commencement of the DROP period. The estimate and a DROP application will be sent to the member.
(4) An eligible member who wishes to participate must complete the DROP application and return it to MPERA. MPERA must receive the completed application at least two weeks before the first day of the month the member wants the DROP period to be effective; otherwise MPERA will notify the member that the DROP period will be effective the following month. If a birth certificate or other acceptable proof of age is required by the application, it must accompany the application for the application to be complete.
(5) Once the application is filed with MPERA, the election to participate in the DROP is irrevocable.