The LOSAP criteria for eligibility will be determined by a point system for a volunteer member to be eligible for an annual contribution. Five years of service, from the effective date of this chapter, not necessarily consecutive, are required for vesting. The annual contribution shall be $1,150 per eligible member. The contribution shall be subject to annual increases tied to any increase in the consumer price index as issued by the United States Department of Labor for the New York Metropolitan Area for all goods and services. For all volunteers in good standing who have at least five years of service as of the effective date of this chapter, they shall be deemed to have been vested as of the effective date of this chapter. All volunteers in good standing as of the effective date of this chapter who have less than five years of service shall receive a credit for the five years vesting period equal to the number of years they have served or portions of years thereof.