H.B. No. 3280 amends the provisions related to the Deferred Retirement Option Plan (DROP) for members of the retirement systems for police and firefighters in certain municipalities. The bill modifies Section 6.14(c) of Article 6243a-1 of the Revised Statutes, changing the requirement for crediting retirement pension amounts to a member's DROP account. Specifically, it establishes that effective January 1, 2018, members with 20 or more years of participation in DROP will no longer have their retirement pension credited to their DROP account while they remain in active service, replacing the previous threshold of 10 years.

Additionally, the bill clarifies that the amended provisions apply to all members participating in the DROP, regardless of when they began their participation. It also specifies that members whose retirement pension ceased being credited to their DROP account after January 1, 2018, will not be entitled to have amounts credited for the period from when their pension ceased until August 31, 2025. The act is set to take effect on September 1, 2025.