61 South Paramus Road,
Length of Service Award Program – LOSAP – is designed specifically for emergency services volunteers, including volunteer firefighters and volunteer EMS workers. The program is designed to reward the emergency services volunteers for their service to the community as a supplemental retirement plan after they have attained an annual active service requirement. A LOSAP can also be called LOSA or HEROPLUS in states outside of New Jersey.
Purpose of Plan
Funds may be withdrawn (without IRS penalty), as follows
Vested funds may be transferred - to a similar plan with another LOSAP plan. Funds cannot be transferred to an IRA.