FIREFLY ADMIN INC.
  • HOME
  • SERVICES
  • ABOUT
    • LOSAP
    • CORE PRINCIPLES
  • BLOG
  • CONNECT
    • CONTACT US
    • SECURE FILE UPLOAD
  • ShareFile

Daily Douse

Governor Signs Bill Extending Maximum Service Credit to 50 Years into Law

8/20/2021

0 Comments

 
Today, August 20, 2021, Governor Cuomo signed bill S1091a / A2239a into law.

Chapter 400 of the Laws of 2021 extend the maximum years of service credit that can be earned in a volunteer firefighter LOSAP from 40 years to 50 years.

The bill amends both Section 218 (defined contribution plans) and Section 219 (defined benefit plans) to include the same language, which is as follows:

The governing board of a political subdivision may extend the maximum number of years of service for which a participant may receive a contribution for up  to  an  additional  ten years,  to a maximum of fifty years, and such increases in the number of years may be added in multiple increments or in a single action,  pursuant  to  the  adoption  of the required resolution or resolutions of the governing board, receiving  the  affirmative  vote  of  at  least  sixty percent  of  the  governing  board of the political subdivision, and the approval of any mandatory referendum or referenda authorizing the extension of benefits under the program by eligible voters within such  political subdivision.

Interestingly, the language states that a political subdivision can extend the maximum years of service for which a participant may receive a contribution an additional ten years. That wording is more applicable to a defined contribution plan, where a participant receives a contribution into an account for each year of 50 points earned, rather than a defined benefit plan where a participant earns a monthly benefit instead.

However, the intention seems clear - that a LOSAP can be amended to extend the maximum years of service credit from 40 to 50 years, and that such extension requires voter approval at a mandatory referendum.
0 Comments

Bill Extending Service Maximum to 50 Years Delivered to the Governor

8/10/2021

0 Comments

 
Yesterday, Monday August 9th, bill A2239a was delivered to the Governor. This bill would extend the maximum years of service credit that can be earned in a volunteer firefighter service award program from 40 to 50 years. Therefore, this also extends the number of years in which a participating firefighter can accrue benefits by another 10 years.

The timetable for signature or veto by the Governor is different depending on when a bill is delivered. If a bill is delivered while the Legislature is in session, the Governor has 10 days (excluding Sundays) to sign the bill into law, or veto it. If no action is taken, then the bill automatically becomes law.

However, if the Legislature is not in session, which is the current situation, the Governor has 30 days in which to sign the bill into law. If no action is taken, then the bill is considered vetoed. This inaction is referred to as a "pocket veto".

In the recent past, it appears the Governor has taken action within the 10-day window, even when it isn't required. We will monitor the bill and update our blog when action is taken.

EDIT
Obviously, the Governor's resignation will impact the timing of the actions taken in some way. Again, we will continue to monitor and update our blog when action is taken.

0 Comments

    Archives

    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019

    Categories

    All
    Budgets & Costs
    COVID-19
    GASB & Accounting
    General
    LOSAP Point System
    Random

Picture
  • HOME
  • SERVICES
  • ABOUT
    • LOSAP
    • CORE PRINCIPLES
  • BLOG
  • CONNECT
    • CONTACT US
    • SECURE FILE UPLOAD
  • ShareFile