Bill A 7552 / S 4207-A has passed the Assembly and Senate.
This bill increases the Defined Contribution service award from $700 to $1,200. Now, we wait for the Governor to sign it into law.
When the law was amended to increase the contribution from $480 to $700, the Governor had not signed the bill into law by the time most Fire Districts had to adopt the resolution to have the proposition on the December Commissioner's election. The same thing may happen this year. Any Fire District (or Village or Town) wishing to amend the program effective 1/1/2020 to reflect an increase in the contribution may have to put a stipulation in the resolution an proposition that the increase is contingent on the Governor signing the bill into law.
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Sharing my thoughts and insights on LOSAP, and occasionally other topics.