My first instinct was to look at higher current versions, but they all had bigger packages and more forward drop
than I wanted.
A traditional DROP (also known as a "forward DROP") works like this: An employee who is eligible to retire but wishes to continue in his or her current position elects to "retire" and have his or her pension calculated based on earnings and service as of the DROP election date.
A forward DROP can be designed to provide an incentive to keep retirement-eligible employees working.
With a forward DROP, management knows when employees who elect the DROP will retire, thereby facilitating planning for replacements.
As locks came in they were sold forward three months, so the weighted average hedge was 96.14 reflecting the forward drop
. Rather than pair off the amount of mandatory associated with loans above their origination price, Jonathan converts mandatory positions that are already in place into options, or "optionalizes," by buying Treasury-bond, Treasury-note or MBS calls.
They love it when the forward drops
to the halfway line.
"Roy has shown, especially at Fulham, that his 4-4-2 system can go a long way when his deep-lying centre forward drops
back to pick up the opposition's holding player in midfield.