[HISTORY: Adopted by the Borough Council of the Borough of Mountain Lakes 7-22-2002 by Ord. No. 15-02. Amendments noted where applicable.]042a Exhibit A
A Length of Service Awards Program ("LOSAP") is herewith created in accordance with P.L. 1997, c. 388 (N.J.S.A. 40A:14-183 et seq.) to reward members of the Mountain Lakes Volunteer Fire Department for their loyal, diligent and devoted services to the residents of the Borough of Mountain Lakes.
The LOSAP shall provide for fixed annual contributions to a deferred income account for each volunteer member who meets the criteria set forth below. Such contributions shall be made in accordance with a plan that shall be established by the Borough of Mountain Lakes pursuant to P.L. 1997, c. 388. The said plan shall be administered in accordance with the laws of the State of New Jersey, the United States Internal Revenue Code and this chapter.
The LOSAP shall provide for annual contributions to each eligible member who meets the following criteria:
A minimum of 50 points are required for a member to be eligible for an annual contribution.
A member must have five years of cumulative service to be vested in the LOSAP. Any year of service prior to the adoption of this chapter shall qualify towards vesting.
The annual contribution shall be $1,150 per member and subject to periodic increases, including consumer price index increases, approved by New Jersey Division of Local Government Services.
The Mountain Lakes Volunteer Fire Department shall, on an annual basis, furnish the Council with a list, certified under oath, of all volunteer members, which list shall identify those active volunteer members who have qualified for credit under the award program for the previous year. A volunteer member may, in writing, request that he or she be deleted from the list as a LOSAP participant.
The estimated cost of the program is calculated to be:
For regular annual services: $25,300 per year.
Each active volunteer member shall be credited with points for volunteer services provided to the Mountain Lakes Volunteer Fire Department in accordance with the schedule set forth as Exhibit A attached hereto and made a part hereof.
This chapter shall not take effect unless it is approved by voters as a public question at the next general election.
Editor's Note: Ordinance No. 15-02 was approved by the voters at the election held November 5, 2002.
This chapter shall have no impact on other benefits currently provided by the Borough of Mountain Lakes to its volunteers.