[HISTORY: Adopted by the Borough Council
of the Borough of Mountain Lakes 7-22-2002 by Ord. No. 15-02. Amendments
noted where applicable.]
A Length of Service Awards Program ("LOSAP")
is herewith created in accordance with P.L. 1997, c. 388 (N.J.S.A.
40A:14-183 et seq.) to reward members of the Mountain Lakes Volunteer
Fire Department for their loyal, diligent and devoted services to
the residents of the Borough of Mountain Lakes.
The LOSAP shall provide for fixed annual contributions
to a deferred income account for each volunteer member who meets the
criteria set forth below. Such contributions shall be made in accordance
with a plan that shall be established by the Borough of Mountain Lakes
pursuant to P.L. 1997, c. 388. The said plan shall be administered
in accordance with the laws of the State of New Jersey, the United
States Internal Revenue Code and this chapter.
The LOSAP shall provide for annual contributions
to each eligible member who meets the following criteria:
A.
A minimum of 50 points are required for a member to
be eligible for an annual contribution.
B.
A member must have five years of cumulative service
to be vested in the LOSAP. Any year of service prior to the adoption
of this chapter shall qualify towards vesting.
C.
The annual contribution shall be $1,150 per member
and subject to periodic increases, including consumer price index
increases, approved by New Jersey Division of Local Government Services.
D.
The Mountain Lakes Volunteer Fire Department shall,
on an annual basis, furnish the Council with a list, certified under
oath, of all volunteer members, which list shall identify those active
volunteer members who have qualified for credit under the award program
for the previous year. A volunteer member may, in writing, request
that he or she be deleted from the list as a LOSAP participant.
The estimated cost of the program is calculated
to be:
A.
For regular annual services: $25,300 per year.
Each active volunteer member shall be credited
with points for volunteer services provided to the Mountain Lakes
Volunteer Fire Department in accordance with the schedule set forth
as Exhibit A attached hereto and made a part hereof.[1]
[1]
Editor's Note: Exhibit A is included at the end of this chapter.
This chapter shall not take effect unless it
is approved by voters as a public question at the next general election.[1]
[1]
Editor's Note: Ordinance No. 15-02 was approved
by the voters at the election held November 5, 2002.
This chapter shall have no impact on other benefits
currently provided by the Borough of Mountain Lakes to its volunteers.
