by KYW's Mike Dunn
Mayor Street, in his farewell speech to City Council, voiced relief that after leaving office, he'll be flush with cash. Thanks in part to a one-time pension payout nearing $500,000.
Philadelphia's DROP program -- for Deferred Retirement Option Plan -- was created during the Rendell years mainly to keep police and firefighters from retiring early. John Street signed on four years ago, so when he leaves office next month he'll get a lump sum payment of more than $451,000.
That's in addition to his regular annual pension of more than $115,000. Street spoke of this with pride in his final speech to City Council Thursday:
"There were times when I worried about how I was going to be able to survive and live and take care of myself after local government, but this DROP thing actually is a pretty good thing!"
Mayor-elect Nutter though believes DROP was never meant to include elected officials and he vows to tackle that question after he assumes office.
Street is one of five elected officials in the DROP program. The others are City Councilwoman Joan Krajewski, District Attorney Lynne Abraham, Sheriff John Green and City Commissioner Marge Tartaglione. Those four are not yet leaving office.
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