Virtually everyone knows that Deferred Retirement Option Plans (DROP) are costly - at least those who know what it is - but now the City of Philadelphia has some hard numbers on the cost of their DROP for municipal employees.

DROP allows employees with a certain number of years to "retire" and start collecting their pension, but then continue to work - often in the same position - collecting a salary (sometimes reduced), but not paying into the pension fund.

A new study, commissioned by the city, finds the plan cost $258 million over the past decade, with annual costs ranging from $21 million to $36 million.

Mayor Nutter immediately called for an end to DROP, amid constant criticism of DROP, ending speculation on his political conflict on the issue.

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