19-6-1002. Definitions.
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19-6-1002 . Definitions. Unless the context requires otherwise, as used in this part, the following definitions apply:
(1)"DROP" means the deferred retirement option plan established pursuant to this part.
(2)"DROP account" means the member's accumulated monthly DROP accruals, plus interest.
(3)"DROP benefit" means the lump-sum benefit calculated and distributed as provided in this part.
(4)"DROP period" means the period of time that a member irrevocably elects to participate in the DROP subject to the provisions of 19-6-1004 .
(5)"Monthly DROP accrual" means the amount credited monthly to a participant's DROP account under 19-6-1005 .
(6)"Participant" means a member of the retirement system who has elected to participate in the DROP pursuant to this part.