The Update on the City of Philadelphia’s DROP Program evaluates the financial impact of the Deferred Retirement Option Plan (DROP) since its inception, highlighting a total estimated cost of $277.2 million and its effect on employee retirement ages. The report finds that DROP has increased the average retirement age by 1.7 years but continues to impose significant costs on the pension system.

Philadelphia’s Pension System: Reducing Risk and Achieving Fiscal Stability’ assesses the City’s pension challenges, finding that costs as a percentage of payroll have risen from 17.3% in FY91 to 39.2% in FY15, placing significant pressure on the budget. The report recommends mandatory enrollment in a hybrid pension plan for new hires, increased employee contributions, and additional dedicated funding sources.