Re(5): Parker Lawsuit?
IP: 198.199.208.110
Posted on October 5, 2009 at 05:11:04 PM by Pat Lynch

JJ,
You are correct. The DROP guys/gals have it in their contract that they get what the fund gets. If the 13th Check had been paid into their DROP account when it was due, it would have earned what the fund earned. That's why their amount is different and why it's different for each DROP year.

The statutory rate is set yearly by the state for disputes where there is no interest rate spelled out in a contract. Such is the case for everyone who was not in DROP. FYI, the rate was between 8-11%, depending on the year.

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