[HISTORY: Adopted by the Mayor and Council of the Borough of Raritan 4-13-2021 by Ord. No. 2021-03. Amendments noted where applicable.]
A. 
The Borough deems it appropriate and necessary to act to ensure retention of existing members and to provide them incentives for recruiting new volunteer members for the Raritan Fire Department; and
B. 
The Borough has determined that the creation of a Length of Service Awards Program (LOSAP) will enhance the ability of the Borough to retain and recruit volunteer Fire Department members.
LOSAP is created in accordance with NJSA 40A:14-183 et seq.
A. 
The LOSAP shall provide for fixed, annual contributions to a deferred-income account for each active volunteer member who meets the eligibility criteria in accordance with the schedules adopted by the Borough of Raritan.
B. 
The annual contribution for an eligible volunteer that meets the criteria shall be $1,150 for service year 2020.
C. 
The annual contribution shall be adjusted annually in accordance with the Consumer Price Index (CPI).
D. 
Such contributions shall be made in accordance with a plan established by the Borough and administered in accordance with the laws of the State of New Jersey, the United States Internal Revenue Service, and this chapter.
E. 
The estimated costs of the program have been calculated as $60,000 per year.
On November 3, 2020, the voters of the Borough of Raritan approved the public question authorizing the amendment of the Length of Service Awards Program for volunteer firefighters of the Raritan Borough Fire Department serving the Borough of Raritan in accordance with the terms set forth in § 26-3 above.
All ordinances or parts of ordinances inconsistent herewith are repealed as to such inconsistencies.
If any section, subsection, sentence, clause, phrase or portion of this chapter is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct, and independent provision, and such holding shall not affect the validity of the remaining portions thereof.
This chapter shall take effect immediately after the final publication, or as otherwise provided by law.