[HISTORY: Adopted by the Borough of Rutherford Council 8-10-1999 by Ord. No. 2906-99. Amendments noted where applicable.]
A Length of Service Awards Program (LOSAP) is hereby created in accordance with Chapter 388 of the Laws of 1997 to reward members of the Rutherford Volunteer Fire Department and the Rutherford First Aid Ambulance Corps for their loyal, diligent, and devoted services to the residents of the Borough of Rutherford.
Editor's Note: See N.J.S.A. 40A:14-183 et seq.
The LOSAP shall provide for fixed annual contributions to a deferred-income account for each volunteer member that meets or exceeds the criteria set forth below; that such contributions shall be made in accordance with a plan that shall be established by the Borough of Rutherford 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 United States of America Internal Revenue Code and this chapter.
The LOSAP shall provide for annual contributions to each eligible member that meets or exceeds the criteria as follows:
One hundred points are required for a member to be eligible for the maximum annual contribution.
Five years of service are required for vesting.
The annual contribution shall be $1,441 per eligible member, which amount shall be adjusted to reflect an annual cost of living increase in accordance with the published consumer price index as stated by the State of New Jersey, Division of Local Finance.
[Amended 6-28-2005 by Ord. No. 3080-05; 12-16-2008 by Ord. No. 3176-08]
The estimated cost of the program has been calculated as follows:
For regular annual services: $125,000 per year.
[Amended 12-16-2008 by Ord. No. 3176-08]
Each active volunteer member shall be credited with points for volunteer services provided to the volunteer fire company/First Aid Ambulance Corps in accordance with the following schedule: