LOSAP FAQs

1. Is HeroPlusSM a Length of Service Award Plan (LOSAP) implementation program?

Yes. HeroPlus is an easy program to provide LOSAP retirement benefits to your volunteer firefighter and ambulance squad (EMT) personnel and at the same time enhance retention and recruitment efforts.

2. Why HeroPlus?

HeroPlus is a turnkey LOSAP program designed to ease the burden of implementation and maintenance on volunteer organizations.

3. How Does It Work?

HeroPlus brings together a suite of services from several different providers into a single offering. This will help reduce costs and provide flexibility for both plan sponsors and participants.

4. Is HeroPlus a one size fits all program?

No. HeroPlus can be customized at the local level to meet specific needs of the plan sponsor without having to amend the plan document.

5. Is HeroPlus a Defined Contribution (DC) or a Defined Benefit (DB) Program?

HeroPlus is very adaptable to either a DC or a DB Program.

6. Does HeroPlus offer investment options that are suitable for both DC and DB Programs?

HeroPlus has a wide array of investment options that have been selected by Ibbotson/Morningstar. DC participants will be able to select investments based on their risk profile while DB accounts will be invested based on actuarial assumptions. Morningstar will act as the RIA for Fund Structure and Model Portfolio development.

7. What are the costs for the Program?

All costs to the program are transparent. Mutual funds expenses are fully disclosed. There are:

• No costs for fund transfers
• No surrender charges
• No additional trust or custodial fees

8. Who is Lincoln Financial?

Lincoln Financial provides the program support, investment platform, recordkeeping and web support.

9. How does Lincoln interface with local professionals?

Lincoln will work closely with your financial services professional, TPA and actuary.