DROP Spreadsheet
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The spreadsheet linked below was created in Excel 7.0 and is usable with Windows 95 or later versions of the Windows operating systems. This interactive spreadsheet can assist you in estimating the amount of retirement benefits and interest you can accumulate under the Deferred Retirement Option Program (DROP).
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DROP Excel Spreadsheet
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To use this spreadsheet, open it in your browser or download it to your computer *. (If you have Excel and your browser permits, you may be able to use the sheet within your browser by simply left-clicking on the link above. If not, you may right-click on the link above and save the file to a folder on your PC, where you can open it within Excel (or another spreadsheet program if the file is accepted by the program).
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*If you have a Popup Blocker or other security software or device installed on your computer, you may have difficulty downloading a copy of the DROP Calculator. The following is a cure for this problem in most cases:
- Hold down the CTRL-key while you click on the link with your mouse pointer.
- Keep the CTRL-key depressed while answering any dialogs that may appear.
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When the worksheet opens, in the white boxes, enter the amount of your estimated monthly retirement benefit and the dates you want to begin and end your DROP participation (maximum of 60 months’ participation). Based on the information you enter, the spreadsheet will automatically estimate the amount you would accumulate in DROP and will display the result. You may save your worksheet results locally.
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Notes
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- The validity of your estimate will depend on the accuracy of the information you provide. (If you have trouble with your estimate, try re-entering the information in each of the white boxes.)
- The closer you are to retiring and starting DROP when you obtain an estimate, the more realistic your estimate is likely to be. Earlier estimates depend on assumptions that tend to be true for the membership as a whole, but may differ from your individual experience. This could result in higher or lower estimated DROP amounts than the DROP benefits you may actually accrue.
- In any event, your actual DROP proceeds may be slightly different from the estimate due to the spreadsheet's rounding logic.
- As an active member of the FRS Pension Plan, you can look up your projected benefit estimate in your Member Annual Statement (mailed to active members each year). You can also estimate your monthly retirement benefit (including your DROP proceeds) using the interactive features of “Retirement Online.” You will need a password to enter this secure area of our Web site where you can perform benefit estimates - including DROP estimates - based on your individual retirement records. If you don't know your password, help is available online (look for the help button at the login screen). To enter this interactive area of our Web site, select “Online Services” from the menu bar.
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