Firefly Admin Inc.

Service Award Program (LOSAP) Administration

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/pgCchhVimj

[Firefly Admin Inc. @fireflyadmin]

This month we examine if a LOSAP can be terminated. Read here: https://t.co/mxm1xthxXy

[Firefly Admin Inc. @fireflyadmin]

New York State Law allows a municipal sponsor to amend or "abolish" a LOSAP. What does that mean? Read more here: https://t.co/iNyM2z8ezp

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/nUMrcHtuSm

[Firefly Admin Inc. @fireflyadmin]

Benefits accrued in a New York State LOSAP are not eligible for federal tax deduction under VRIPA. Our latest blog post gives details why: https://t.co/RgSY8RISlW

[Firefly Admin Inc. @fireflyadmin]

@NYFireLaw One of us has the same cutting board ;)
If only we had the same culinary skills!

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/sOqrPEv0oI

[Firefly Admin Inc. @fireflyadmin]

Our third part of four blog series looking at GASB and LOSAP is now available. Read more here: https://t.co/a1NT5qOv5s

[Firefly Admin Inc. @fireflyadmin]

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:
https://t.co/HsWqCuXri0

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/1HiuT5uYfs

[Firefly Admin Inc. @fireflyadmin]

Latest blog post now active. This one is about the end of the state of emergency and COVID-related points.

https://t.co/4kDA8mWY9t

[Firefly Admin Inc. @fireflyadmin]

Our next blog post addresses a question about online training while on a leave of absence: https://t.co/Vh0CCsEZN1

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/QEeKN6XGjx

[Firefly Admin Inc. @fireflyadmin]

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. https://t.co/5ycB0Wm9xd

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/dDuSv82MHT

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/FWszPOS8Hq

[Firefly Admin Inc. @fireflyadmin]

State Disaster Emergency extended to April 25, 2021. What that matters can be read here: https://t.co/uWe4ZcPU91

[Firefly Admin Inc. @fireflyadmin]

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: https://t.co/8GZSPP1emz...

[Firefly Admin Inc. @fireflyadmin]

The Society of Actuaries has released an online tool that can be used to calculate actuarial liabilities. Read our latest blog post here:

https://t.co/3itx2Hr47S

[Firefly Admin Inc. @fireflyadmin]

New York State has been sending out audit notices to taxpayers regarding the LOSAP payment subtraction. Read more details in our latest blog post:

https://t.co/5790hZkSLt