A Length of Service Awards Program (LOSAP) is herewith created in accordance
with Chapter 388 of the Laws of 1997, to reward members of the Glen Rock Volunteer Fire Department and
Glen Rock Volunteer Ambulance Corps for their loyal, diligent, and devoted
services to the Borough of Glen Rock.
The LOSAP shall provide for fixed annual contribution to a deferred
income 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 Borough of Glen Rock pursuant to P. L. 1998, c.
388; and that such 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
that meets the criteria as follows:
A. One hundred points are required to be met for a member
of the Volunteer Fire Department, and 700 points are required to be met for
a member of the Volunteer Ambulance Corps to be eligible for an annual contribution;
B. To be eligible a volunteer must complete all requirements
mandated by law;
C. Five years of service are required for vesting; and
D. The annual contribution shall be $1,150 per eligible
member.
The estimated cost of the program has been calculated as follows: for
regular annual services, $90,000 per year.
Each active volunteer member shall be credited with points for volunteer
services provided to the volunteer fire company/ambulance corps in accordance
with the following schedule:
This chapter shall not take effect unless it is approved by the voters
as a public question at the next general election.