Amendment to the Internal Revenue Service Code Provides Relief to NYS Defined Benefit Service Award Programs

An important conflict between the NY State Law and the Internal Revenue Code has been resolved. More>>>

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NYS LOSAP Audit Requirements 

Important facts you need to know about New York State LOSAP audit requirements can be found here.

Penflex - The LOSAP Experts for Over 25 Years:

Penflex specializes in administering length of service award programs (LOSAP) that are simple, pension-like plans used to recruit and retain volunteer firefighters and ambulance workers. 

In addition, Penflex is one of few firms experienced in the consolidation of one or more departments and their accompanying LOSAP programs. Penflex can ensure a smooth transition with personalized advice and actuarial expertise to those volunteer departments that are merging one or more departments into a single house with one well maintained and properly funded LOSAP.

Penflex offers consulting, actuarial and administrative services. The firm, located in Latham, NY, currently provides these services for more than 450 nationwide LOSAP plans used by emergency services organizations.

Actuary Ed Holohan is the President and founder of Penflex, Inc., and an Associate of the American Society of Actuaries (ASA). Ed has authored numerous articles on LOSAP law and has been working with volunteer emergency service providers for more than 20 years and with government officials for three decades. Ed has assisted state and federal legislators in drafting legislation, rules and regulations affecting service award programs.

To read about more about the steps involved in creating a successful LOSAP click here!

To contact Penflex with questions about LOSAP programs click here. You can also call Penflex with LOSAP questions at: 1.800.742.1409.