A Length of Service Awards Program (LOSAP) is
hereby created in accordance with N.J.S.A. 40A:14-183 et seq., to
reward members of the Volunteer Fire Department, Rescue Squad and
Ambulance Corps for their loyal, diligent and devoted service to the
residents of the Village of Ridgefield Park.
The LOSAP shall provide for fixed annual contributions
to a deferred income account for each volunteer member that meets
the criteria set forth below; such contributions shall be made in
accordance with a plan that shall be established by the Village of
Ridgefield Park pursuant to N.J.S.A. 40A:14-183 et seq.; and 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. Achieves minimum service levels to be eligible for
an annual contribution.
B. Five years of service are required for vesting. Any
member who is not vested and whose services are terminated for any
reason shall forfeit their investment after one year unless the member
requests and receives a leave of absence from the Village. In the
event of such forfeiture, the funds shall be returned to the Village
of Ridgefield Park.
[Amended 8-11-2020 by Ord. No. 2020-02]
C. The annual contribution shall be the maximum amount
permitted by law: $1,150 per eligible member.The maximum LOSAP contribution
shall be annually increased pursuant to the consumer price index (CPI)
to the maximum amount permitted by law.
[Amended 8-11-2020 by Ord. No. 2020-02]
The estimated cost of the program has been calculated
as $185,150 per year for regular annual services.
[Amended 8-8-2000 by Ord. No. 00-10]
Each active volunteer member shall be credited
for one year of volunteer service provided to the Fire Department,
Rescue Squad or Ambulance Corps upon complying with the minimum service
levels as outlined in the following schedules:
Members who have provided continuous service
within their respective organizations since January 1, 1996, shall
be deemed qualified as having met the five years' participation requirement
of this program.
This chapter took effect January 1, 2001, after
approval by the voters at the general election held November 7, 2001.
Any amounts appropriated annually for the LOSAP
shall be included in the budget of the Village of Ridgefield Park
as a separate line item.