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You don’t have to wait to collect your DROP funds from Deferred Compensation.&nbsp; If you rolled over,&nbsp;or plan to roll over,&nbsp;your DROP funds into the City’s&nbsp;Deferred Compensation Plan, you are eligible to take distribution of those funds without tax penalty,&nbsp;if you&nbsp;are at least age 50. This also applies to distributions taken directly from LAFPP.



The tax code was changed in 2016 to eliminate the 10% tax&nbsp;penalty on funds withdrawn before age&nbsp;59½. You should&nbsp;keep in mind that you may incur a tax liability upon distribution.



We recommend that you consult with your tax and/or financial advisor if you have any questions regarding your personal situation.

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