The Length of Service Awards Program (LOSAP) is herewith created in accordance with Chapter
388 of the Laws of 1997 to reward volunteer fire fighters of the Gibbstown Volunteer Fire Company for their loyal, diligent and devoted services to the residents of the Township of Greenwich.
The LOSAP shall provide for fixed annual contributions to a
deferred account for each volunteer member that meets the criteria
set forth below; that such contributions shall be made in accordance
with a plan that shall be established by the Greenwich Township Council,
pursuant to P.L. 1997, c. 388; and that such plan shall be administered
in accordance with the laws of the State of New Jersey, the U.S. Internal
Revenue Service Code and this chapter.
This LOSAP shall provide for annual contributions to each eligible
member who meets the criteria as follows:
The estimated cost of the program has been calculated as $59,800
per year if each active volunteer earns maximum points for service.
Each active volunteer member shall be credited with points for
volunteer services provided by the Gibbstown Volunteer Fire Company
in accordance with Schedule A attached and incorporated by reference
into this chapter.