[HISTORY: Adopted by the City Council of the City of Port Republic 2-8-2019 by Ord. No. 02-2019. Amendments noted where applicable.]
A Length of Service Awards Program (LOSAP) is herewith created in accordance with Chapter 388 of the Laws of 1997 to reward members of the volunteer firefighters for loyal, diligent, and devoted services to the residents of the City of Port Republic.
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:
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.
The estimated cost of the program has been calculated as follows:
For regular annual services: $18,050 per year.
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.)
This chapter shall not take effect unless it is approved by the voters as a public question at the next general election.