NJ Cops | Page 16

== = = = = = = = = = = = == == = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = Edmond = P. Brady, CPA – Partner = = = == = = = = = = [email protected] = = = = = = = = = = = = • =Obtain reinstatement of = = = revoked = = IRS= = = = = = = = = = = = = = = = = = = = = = = • = = = = = = = = = = = = = = • = = = = = = = == = = = = = = •= = = = = = = = = == = = = = = = = = = = = = = = = = = == = = •= = = = = = = = = = • = = = = = == = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = Responsible for more than 300 PBA’s in = = = = = = = = = = = = New= Jersey = and = New = York= = = = = Licensed in NJ, NY and Mass. = = = = = = = = = NJ •= New York, = = = = Livingston, = = = =NY = =Phone = (973) = 535-2880 = = = = • = www.odpkf.com = = = = = = = = = = = = = 16 = = = = NEW JERSEY COPS ■ JULY 2016 = = = == = = = = = = = = = = = = = = == = = = = = = = = = = = = LEGAL PROTECTION PLAN UPDATE = = = = = = = = = = = = = = = = Yearly report on = = = = = the financial status of the plan = = As is done every year, we recently have completed the financial analysis of the legal protection plan through an audit and actuarial analysis. As it has been since we have brought the plan in house, I am happy to report the plan is very strong. While we have increased reserves over past years, we have maintained surplus that will protect us in the event of an anomalous year with respect to KEVIN C. expenses. We have increased our reserves from $976,386 to LYONS $11.7 million, or by 9.1 percent, greatly due to the increase in claim volume and an increase in the average cost per claim. This increase also is due to the addition of the “waiver of limits” coverage that was added as optional in 2015. One of the many trends that are of concern is