Firefly Admin Inc.
@fireflyadmin
Service Award Program (LOSAP) Administration
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Our August blog post was posted a few days ago. It reviews that a LOSAP benefit is not eligible for rollover, but there are some alternatives you could consider. Read it here: fireflyadmin.com/blog/rollover-…
This month we examine if a LOSAP can be terminated. Read here: fireflyadmin.com/blog/can-a-los…
New York State Law allows a municipal sponsor to amend or "abolish" a LOSAP. What does that mean? Read more here: fireflyadmin.com/blog/in-ny-sta…
The only requirement to earn a service award benefit is to earn 50 points. A department cannot deny a benefit if the volunteer fails to meet bylaw or other requirements. Read more here: fireflyadmin.com/blog/earning-s…
Benefits accrued in a New York State LOSAP are not eligible for federal tax deduction under VRIPA. Our latest blog post gives details why: fireflyadmin.com/blog/losap-pay…
The latest issue of @FASNY The Volunteer Firefighter magazine had an article about so-called junior firefighter programs. Our latest blog post addresses some LOSAP-related issues to consider if the LOSAP allows minors to participate. Read the post here: fireflyadmin.com/blog/losap-jun…
Our third part of four blog series looking at GASB and LOSAP is now available. Read more here: fireflyadmin.com/blog/gasb-losa…
Today, Governor Cuomo signed into law the bill to extend maximum service credit in a volunteer firefighter LOSAP from 40 to 50 years. Read more here: fireflyadmin.com/blog/governor-…
The bill to extend LOSAP service credit maximum to 50 years was delivered to the Governor on 8/9. His resignation yesterday, 8/10, obviously makes this an unusual situation. You can read more on our blog: fireflyadmin.com/blog/bill-exte…
Latest blog post now active. This one is about the end of the state of emergency and COVID-related points. fireflyadmin.com/blog/expiratio…
Our next blog post addresses a question about online training while on a leave of absence: fireflyadmin.com/blog/earning-p…
The New York State Legislature passed another bill that would amend the LOSAP statute. This one would allow a LOSAP sponsor to award points for department responses differently. Read more here: fireflyadmin.com/blog/legislatu…
Check out this great article titled "The Anatomy of a Lump Sum". We think anyone trying to understand actuarial present value will find it valuable. us.milliman.com/en/insight/the…
The bill to increase the maximum years of service credit that can be earned from 40 to 50 has been passed by both houses of the Legislature. Now we await the Governor's signature. More details here: fireflyadmin.com/blog/bill-to-e…
The bill that would extend the maximum years of service credit from 40 to 50 years took a step towards becoming law. Read more here: fireflyadmin.com/blog/update-on…
State Disaster Emergency extended to April 25, 2021. What that matters can be read here: fireflyadmin.com/blog/state-dis…
A bill to extend the maximum years of service credit from 40 to 50 years appears poised to become law in 2021. Good in NYS, as 2021 is the 37th year (including buyback). Read here: fireflyadmin.com/.../losap-bill…...
The Society of Actuaries has released an online tool that can be used to calculate actuarial liabilities. Read our latest blog post here: fireflyadmin.com/blog/new-tool-…
New York State has been sending out audit notices to taxpayers regarding the LOSAP payment subtraction. Read more details in our latest blog post: fireflyadmin.com/blog/new-york-…
The Governor has extended the State Disaster Emergency to January 1, 2021. We now know the maximum points that can be awarded in 2020 as a result of the COVID-19 pandemic. It also has possible ramifications for 2021. For details please click here: fireflyadmin.com/blog/state-dia…
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