[HISTORY: Adopted by the City Council of the City of Port Republic 2-8-2019 by Ord. No. 02-2019. Amendments noted where applicable.]
ATTACHMENTS
Attachment 1 - LOSAP Schedule A
A Length of Service Awards Program (LOSAP) is herewith created in accordance with Chapter 388 of the Laws of 1997[1] to reward members of the volunteer firefighters for loyal, diligent, and devoted services to the residents of the City of Port Republic.
[1]
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 the criteria set forth below; that such contributions shall be made in accordance with a plan that shall be established by the City of Port Republic 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 chapter.
The LOSAP shall provide for annual contributions to each eligible member that meets the criteria as follows:
A. 
100 points are required for a member to be eligible for an annual contribution. (See LOSAP Schedule A.[1])
[1]
Editor's Note: LOSAP Schedule A is included as an attachment to this chapter.
B. 
Five years of service are required for vesting. After five years of eligibility under LOSAP, an eligible member is eligible to earn five years of previous service.
C. 
The annual contribution shall be $950 per eligible member for regular annual service and who qualify with five years of meeting the criteria in Subsection A above.
Each active volunteer member shall be credited with points for volunteer services provided to the volunteer fire company in accordance with the following schedule. (See LOSAP Schedule A.)
A. 
This chapter shall not take effect unless it is approved by the voters as a public question at the next general election.
B. 
The following referendum question shall be submitted to the voters of the City of Port Republic at the November 5, 2019 General Election:[1]
Shall the City of Port Republic be authorized to establish a Length of Service Awards Program for the Port Republic Volunteer Fire Department members that serve the City of Port Republic, pursuant to the following terms and conditions:
1.
The program shall provide for annual contributions to a deferred income account for each active member that meets the eligibility criteria and in accordance with the schedule adopted by the City of Port Republic.
2.
The proposed annual contribution for an active volunteer member shall be $950.
3.
The estimated cost of the program has been calculated as follows:
A.
For regular annual services: $18,050 per year.
YES
NO
Explanatory Statement
The City of Port Republic has decided to adjust a Length of Service Awards Program (LOSAP) for the volunteer members of the Port Republic Volunteer Fire Department that serve the citizens of the City of Port Republic. The general requirements for a LOSAP are set forth in State Law 9 (Chapter 388 of the Laws of 1997).
Each volunteer member of the Port Republic Volunteer Fire Department that performs the amount of service required will have $950 deposited into a tax deferred income account that will earn interest for each volunteer member.
Additional details on the program may be found in the ordinance, adopted by the City of Port Republic, which is available for public inspection, along with a copy of the State enabling law, at the office of the City Clerk located at 143 Main Street, Port Republic, New Jersey.
[1]
Editor's Note: The LOSAP public question was approved by the voters of Port Republic at the General Election on November 5, 2019.