1 Volunteer Fire Fighter and EMT Service Award Program Legislative Audit Bureau February 2006

2 Length-of-Service Award Program u Created by 1999 Wisconsin Act 105 u Intended to enhance retention of volunteer fire fighters and emergency medical technicians u Full retirement benefits at age 60 after 20 years of service u State matches local contributions

3 Individual Enrollments

4 Locations of Participating Departments

5 Length-of-Service Award Program Funding

6 Administration Fees Paid to Program Vendors

7 Commissions Paid by Lincoln Benefit Life to Laub & Horton

8 Insurance Premiums Forfeited to The Advisory Group

9 Board and DOA Action u Additional financial expertise is needed as the Board prepares for a vendor solicitation u DOA can access financial expertise from within state government at ETF u Report to the Legislature on the status of the vendor solicitation

10 Legislative Recommendations u Revise the membership of the board to ensure financial planning expertise is required u Move the annual reporting date from December 31 to June 30