NYS LOSAP lookup

[FDNYDCHI 38]

I was with my old Volunteer Fire department from 1996-2007 at that time I quit the department. I am trying to find my LOSAP infomation and penson information from that time period. Would NYS have some central database?

I haven't receved any yearly update after I left the department, Do I have to contact them and give my current address for future updates.

For example When I was Employed with NYC I got a yearly Pension statement of how much money was in my acct.

I tried to google it but couldn't fine anything just companies that do LOSAP programs

Thank you

Chris

[ex-commish 490]

You should start with the AHD of the department you were with during that time frame. They should have the records.

[Dinosaur 844]

Central database for LOSAP records? Ha!

Some FD's don't even report their training and fires/incidents to NYS. You think they're going to share financial information that may expose the real cost of their services?

[Bnechis 3,961]

Central database for LOSAP records? Ha!

Some FD's don't even report their training and fires/incidents to NYS. You think they're going to share financial information that may expose the real cost of their services?

More importantly, a few years ago it was reported (by the NYS Comptroller) that many LOSAP programs maybe underfunded. That means that at some point 10-20-30 years from now the departments may need to raise large sums to cover personnel who are no longer providing service.

[Guest thill]

Hi - I work for Penflex, one of the major LOSAP vendors here in NYS. Please tell me what department you were with and I will either get you the information or have someone get in touch with you. You can contact me via email at ahill@penflexinc.com if that is easier.

[gamewell45 258]

Central database for LOSAP records? Ha!

Some FD's don't even report their training and fires/incidents to NYS. You think they're going to share financial information that may expose the real cost of their services?

Maybe your department; but mine is very open about record keeping and financial records. Try to be just a bit positive here

[gamewell45 258]

More importantly, a few years ago it was reported (by the NYS Comptroller) that many LOSAP programs maybe underfunded. That means that at some point 10-20-30 years from now the departments may need to raise large sums to cover personnel who are no longer providing service.

This could be true; some volunteer fd's have not properly funded LOSAP programs much like career fire departments whose pension funds might either be or become underfunded even tho' those members are no longer providing service as well. Its a two-way street when things aren't planned out properly.

[Bnechis 3,961]

This could be true; some volunteer fd's have not properly funded LOSAP programs much like career fire departments whose pension funds might either be or become underfunded even tho' those members are no longer providing service as well. Its a two-way street when things aren't planned out properly.

Since the NYS Fire & Police pension system is fully funded (at 107%), is mandated in the state constitution and the state bills each FD or Municipality for each employee. And no career FD in NYS has its own pension system. Can you please identify which career FD you are refering to?

Is it possible that the fund may become underfunded? Yes, we have had 3 govenours try to raid it, one even withheld payments, but the courts ordered him to repay it with interest.

At the same time can you list who is regulating the LOSAP funds? and how they are being handled?

[helicopper 1,050]

This could be true; some volunteer fd's have not properly funded LOSAP programs much like career fire departments whose pension funds might either be or become underfunded even tho' those members are no longer providing service as well. Its a two-way street when things aren't planned out properly.

It never ceases to amaze me that someone will try to turn any discussion into a career vs. volunteer pissing match. This has absolutely nothing to do with career FD's or the NYS police and fire pension system.

LOSAP's are not managed by the State nor are they regulated by state statute so there is really no comparison. Who controls the LOSAP program?

[gamewell45 258]

It never ceases to amaze me that someone will try to turn any discussion into a career vs. volunteer pissing match. This has absolutely nothing to do with career FD's or the NYS police and fire pension system.

LOSAP's are not managed by the State nor are they regulated by state statute so there is really no comparison. Who controls the LOSAP program?

Likewise it amazes me as well. If you want to discuss it with me further, PM me.

[gamewell45 258]

Since the NYS Fire & Police pension system is fully funded (at 107%), is mandated in the state constitution and the state bills each FD or Municipality for each employee.

There is concern by the state in regards to New York's growing pension costs; concern's abound that it could become underfunded.

http://www.empirecenter.org/Special-Reports/2010/12/pensionexplosion120710.cfm

"The New York City Fire Pension Fund is financially the weakest of the eight public pension funds in New York State. Measured on an official actuarial basis, the Fire Pension Fund had only 56 percent of the assets needed to meet its liabilities as of June 30, 2008; using a market rate standard, its funded ratio was only 41 percent on the same date. Given the city funds’ investment losses, the fire fund’s condition has undoubtedly deteriorated in the past two years.

As of their reporting dates in 2009 (March 31 for New York State ERS and PFRS, and June 30 for NYSTRS), each of the state systems reported an actuarial funding ratio of slightly more than 100 percent. But recalculating these figures on a market value basis shows a much worse funding situation: TRS was just 60 percent funded, PFRS 58 percent, and ERS 56 percent. The discrepancy has two sources: sharp stock market declines in late 2008 and early 2009 meant that the market value of these plans' assets was far below their actuarial value. And changing to a market value discount rate significantly increases the plans' measured liabilities."

[Bnechis 3,961]

There is concern by the state in regards to New York's growing pension costs; concern's abound that it could become underfunded.

Your source claims to be an independant research group, but they appaear to be more of a lobbying group. They came up with info that no one else is using, The info they are using is 4 years old and they were behind the push to get teir 6 pushed through.

They claim that without the pension reform of tier 6 they claim we will bankrupt the system.

This last week our Mayor's citizen's budget committee asked how do we convince older firefighters to retire? They stated that the cost of older firefighters both becuase they are at top pay and because they have more injuries and take longer to heal than younger ones. When we looked at the new Tier 6 we find a huge penalty for each year under 63 that a person retires.

So to "save the pension system" (using this data), this group promoted tier 6 and we now have a lower upfront pension cost, but will skyrocket the disability pension cost in about 10 years.

[gamewell45 258]

Your source claims to be an independant research group, but they appaear to be more of a lobbying group.

As with any group, they have their agenda; what needs to be done in this case is to scrutinize the data provided and other impirical evidence and be given due weight. Can we really trust what the government tells us? How many times has the public been burned before by the government?

They claim that without the pension reform of tier 6 they claim we will bankrupt the system.

Whats a viable alternative? roll the dice and risk insolvency?

This last week our Mayor's citizen's budget committee asked how do we convince older firefighters to retire? They stated that the cost of older firefighters both becuase they are at top pay and because they have more injuries and take longer to heal than younger ones. When we looked at the new Tier 6 we find a huge penalty for each year under 63 that a person retires.

So to "save the pension system" (using this data), this group promoted tier 6 and we now have a lower upfront pension cost, but will skyrocket the disability pension cost in about 10 years.

I think its speculation at best. Especially since its never been tried before. Its quite possible that Tier VI might need fine tuning down the road; eitherway to remain complacent and rely on the present method could be a road to ruin financially for all involved.

[Bnechis 3,961]

Can we really trust what the government tells us? How many times has the public been burned before by the government?

Generally, I would say no we cant, but the comptrollers (at least 4 of them over the last 30 years) have told Albany to go scratch, time after time. They appear to have maintained a seperation from the majority of the "government" and thats why it has remained strong.

Whats a viable alternative? roll the dice and risk insolvency?

The comptroller made it very clear that teir 6 would cause insolvency and Albany would not even respond to him, Cuomo promised the voters that he would make the "tough" choices, He never said he would make good ones. So which is rolling the dice?

I think its speculation at best. Especially since its never been tried before. Its quite possible that Tier VI might need fine tuning down the road; eitherway to remain complacent and rely on the present method could be a road to ruin financially for all involved.

It has been tried before, Its called tier 2. Albany wanted to show how "tough" they were, so they limitied the retirement benefit and added a penelty for anyone that had full time in but retired between 55 and 62. We have members who are 57/58 how would love to go, but will lose money if they do not stay till 62.

I appears that the only financial ruin is when the politicians get involved. When its just the accountants, we do just fine.

[GAW6 66]

My husband is a "Tier 2" and it changed a few years back to "55 with at least 30 years".

Fire Commissioners control the LOSAP program. The State DOES have some say in it - the now required yearly audit MUST contain an audit of the LOSAP program also. I happen to be the LOSAP administrator for our Fire District - and if any District is "under-funded", then shame on them. Everyone should be receiving annual reports from the company who handles their program.