A: Similar to a retirement program, a LOSAP is designed to retain and reward volunteers for their service to the community.
VFIS has provided LOSAP administration and support since 1983. With our package of services and products, volunteers can focus on what they do best – protecting the community.
A: Offering a LOSAP would provide:
A: Implementing a LOSAP can provide significant savings to municipalities that are otherwise associated with paying salaries and benefits for full-time firefighters. LOSAPs offer financial rewards to volunteers for community service, which encourages volunteer retention.
A: A defined contribution plan allows the ESO to contribute a recurring amount to the eligible volunteer’s LOSAP account. A defined benefit provides a guaranteed benefit from which the annual premium may change based on actuarial tables.
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