Balances were smaller in the new system, which totaled $ 4 million on 103 accounts. The largest was worth $ 114,000.
The municipal police are governed by a separate pension system. The newspaper requested the data but it was not yet available.
‘Very good deal’
Daly, the collector, has the highest DROP balance among all non-firefighter employees. If he cashed that $ 400,000, that would be more than any distribution for a public safety employee in the past decade.
Part of the reason is that 70-year-old Daly has about 40 years of service at Town Hall. He also has almost the highest salary in the municipal government: $ 200,000. It is way above what the mayor earns and more than any municipal employee except the airport manager.
The work of municipal collector is mainly administrative, but it is an elected position. Prior to Daly’s election in 2007, he was the city permit collector, another elected office of town hall. Governor Mel Carnahan appointed Daly as a license collector in 1998. Prior to that, he worked as an administrative assistant for three presiding aldermen, a period of 17 years that extended until the early 1980s.
Daly said in a statement his office had a big job overseeing the collection of hundreds of millions of dollars in taxes. He said he understood that DROP was designed to help compete with the private sector for quality employees, and that it had nothing to do with setting policy or guidelines.