[Adopted 6-16-2014 by Ord. No. 690]
A Length of Service Award Program (LOSAP) is herewith created
in accordance with Chapter 388 of the Laws of 1997 to reward members of the Harrington Park Volunteer Ambulance
Corps for their loyal, diligent, and devoted services to the residents
of Borough of Harrington 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, that such contributions shall be made in accordance
with a plan that shall be established by the Borough of Harrington
Park 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 U.S. Internal
Revenue Code, and this article.
The LOSAP shall provide for annual contributions to each eligible
ambulance squad member that meets the criteria as follows:
A. One
hundred points are required for a member to be eligible for a full
annual contribution; 90 points are required for a member to be eligible
for 90% annual contribution; 80 points are required for a member to
be eligible for 80% annual contribution; 70 points are required for
a member to be eligible for 70% annual contribution; 60 points are
required for a member to be eligible for 60% annual contribution;
and 50 points are required for a member to be eligible for 50% annual
contribution.
B. Five
years of service are required for vesting. However, for previous years
of service, each active member shall be entitled to a credit, for
vesting purposes only, of one year credit for each two years of active
service to a maximum of five years credit, for full vesting.
C. The
annual contribution per eligible active ambulance squad member, commencing
with the year 2014, shall be as be as follows: $1,150.
D. In
future years, the base annual contribution shall be increased commensurate
with the percentage increase in the consumer price index (CPI).
Each active volunteer ambulance squad member shall be credited
with points for volunteer services provided to the Harrington Park
Volunteer Ambulance Corps in accordance with Schedule A attached.
This article shall not take effect unless it is approved by
voters as a public question at the next general election.
The following referendum question shall be submitted to the
voters of the Borough of Harrington Park at the November 4, 2014,
general election:
Shall the Borough of Harrington Park be authorized to establish
a Length of Service Award Program for the active members of the volunteer
ambulance squad that serve the municipality pursuant to the following
terms and conditions:
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1.
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The program shall provide for annual contributions to a deferred
income account for each active volunteer ambulance squad member that
meets the eligibility criteria and in accordance with Schedule A adopted
by the Borough of Harrington Park.
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2.
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The estimated cost for the first year of the program has been
calculated at between $15,000 and $25,000.
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