PHILADELPHIA (CBS) – A report commissioned by City Council to evaluate the controversial DROP pension perk is nearing completion and it is expected to take issue with the Mayor’s estimates on the cost of the program.
The mayor issued his call for City Council to eliminate DROP last August. Since then there have been no hearings, with Council members instead waiting to receive a report from consultants that they hired to evaluate the cost of the program.
The mayor’s own report, by Boston College, put the cost of DROP at more than $250 million over the life of the program, but sources indicate that Council’s report, by the Baltimore-based Bolton Group, is expected to find a lower cost and is expected to take issue with some of the estimates in the mayor’s report.
Both reports will be used as the basis for council hearings on the DROP controversy, which could come this spring.
Reported by Mike Dunn, KYW Newsradio