Last revised and adopted: December 31, 2024

Firefly Admin Inc. (“Firefly”) is committed to maintaining transparency and providing current and prospective clients with relevant information regarding our business practices, services, and operations. This disclosure statement serves to outline key details about our company, ensuring that clients are well-informed when making decisions related to our services.

Firefly is an independently owned corporation specializing in providing actuarial, administration, and consulting services to municipal sponsors of Length of Service Award Programs (“LOSAP”), with specific expertise in programs sponsored in the State of New York.

Firefly is retained by a LOSAP sponsor (the “Client”) through a formal Engagement Letter and/or Services Agreement that outlines the services Firefly will provide to the Client. Firefly bills its clients directly for the services rendered in connection with a signed agreement.

There are other corporations that provide services to sponsors of LOSAPs. When a LOSAP sponsor is choosing which vendors to hire, it can be challenging to identify the differences between Firefly Admin Inc. and other companies that advertise the same types of services. It is important that current Clients or any LOSAP sponsor considering retaining Firefly understand that Firefly is uniquely distinguished among the various companies seeking to provide similar services to LOSAP sponsors. Evaluating Firefly as a corporate entity against any other corporation claiming to provide similar services provided by Firefly should be done within the purview of these statements.

• Firefly Admin Inc. is an S corporation, incorporated in New York State, and is 100% owned by Anthony Hill, the President of the corporation.
• Firefly specializes in providing actuarial, administration, and consulting services to LOSAP sponsors and volunteer organizations. Firefly has specific expertise with LOSAPs sponsored in the State of New York, including the applicable laws, rules, and regulations.
• Firefly is retained by a LOSAP sponsor (Client) through a formal Engagement Letter that outlines the services Firefly will provide to the Client and the fee for those services. Firefly may have a separate Payment Services Agreement with a Client that would like Firefly to manage the benefit payments owed from the LOSAP. This agreement also outlines the services Firefly will provide to the Client and the fee for those services.
• Firefly employs credentialed actuaries that must individually comply with their Professional Code of Conduct and Standards of Practice. Firefly Clients can expect that all business decisions and practices will reflect the Professional Code of Conduct. (See: Statement of Commitment to Code of Professional Conduct)
• Some administrative platforms selected by Clients may provide for a fee that is paid directly to Firefly, with the fee determined based on a percentage of the client’s LOSAP assets. If Firefly receives any such administrative fee, it is separately accounted for and clearly disclosed to the Client. In such instances, a Client’s direct payments to Firefly are offset or reduced by the amount of such administrative fee received.
• In calendar year 2024, Firefly’s revenue was comprised of 97.5% fees paid directly to Firefly by its Clients, 1.5% fees received from administrative platforms which was credited to the Client, and 1% interest income on bank balances.

• Firefly is not owned by or a subsidiary of any other corporation. Firefly has no other business interests related to banking, insurance, investment, legal, accounting, or other services.
• Firefly is not an insurance agency and is not licensed to be an insurance agency or insurance broker. Firefly does not employ individuals with the purpose of selling insurance or receiving commissions or other compensation from the sale of insurance products.
• Firefly is not licensed to sell investment products, securities, bonds, or similar products, and does not employ individuals with the purpose of selling insurance or receiving commissions or other compensation from the sale of such products.
• Firefly does not enter into solicitation agreements with investment advisors and does not receive compensation from investment advisors.
• Firefly is not a law firm and does not provide legal advice.
• Firefly is not an accounting firm and does not audit LOSAPs.
• In no case shall Firefly receive compensation for work performed for a Client in excess of the fees disclosed in the Engagement and/or Services Agreement, unless separately negotiated with the Client.

If you have any questions about this Statement or believe that Firefly has failed to uphold this Statement, please contact Anthony Hill, President, at (518) 687-1400 or contact us.