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:
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1.
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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.
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2.
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The proposed annual contribution for an active volunteer member
shall be $950.
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3.
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The estimated cost of the program has been calculated as follows:
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A.
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For regular annual services: $18,050 per year.
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YES
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NO
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Explanatory Statement
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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).
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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.
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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.
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