Omaha fire chief will get $630,000 pension payment at retirement; Mayor says it's a good deal for the city

  • Source: Omaha World-Herald
  • Published: 04/22/2018 08:22 AM

Omaha Fire Chief Dan Olsen will get a payout of more than $630,000 when he retires in five years as part of the city’s Deferred Retirement Option Plan. The program is meant to induce retirement-eligible police and fire veterans to officially retire yet continue working and drawing a paycheck. Once entering the program, the employee’s pension is locked in. Then, when he or she actually retires, there’s a one-time payment of the pension dollars that piled up from the years in the program. For the city, the DROP program keeps experienced employees on staff longer. The employee, meanwhile, gets the lump sum of money when he or she retires.



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