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State Finance Agency Criticizes City Council For Not Dealing With DROP

PHILADELPHIA (CBS) – The state agency that oversees Philadelphia’s finances is taking City Council to task for not scheduling hearings on the controversial pension perk known as DROP.

PICA Board Chairman Sam Katz has sent a letter to Council President Anna Verna (pictured) criticizing Verna for not yet scheduling a hearing on DROP, nine months after the Mayor called for the program to be abolished.  In his letter, Katz told Verna that her failure to deal with DROP, “Clouds the city’s future fiscal situation,” and “erodes confidence” in other aspects of the city’s long-term budget plan.

KYW Newsradio caught up to Verna for comment: “I haven’t seen the letter.  I’ve been so busy that I haven’t had a chance to even look at the folder the girls gave me with the mail today.”

Verna said Council must first deal with approval of the mayor’s new budget, but that she still hopes for a hearing on DROP before they begin their three month summer recess.

Reported by City Hall Bureau Chief Mike Dunn, KYW Newsradio 1060

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Comments

One Comment

  1. Jim Wilmer says:

    The abuses of this DROP program hasn’t helped public officials image. To be passed on to the rest of the city’s workforce would only cripple the future of the city. The tax base can’t pay for basic programs as it is now; let alone paying for thousands of workers in their retirement(The DROP retirement plan)

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