[Adopted 7-26-2000 by Ord. No. 573]
A Length of Service Award Program (LOSAP) is
herewith created in accordance with Chapter 388 of the Laws of 1997,
to reward members of the Volunteer Fire Department of the Borough
of Alpine for their loyal, diligent and devoted services to the residents
of the Borough of Alpine.
The LOSAP shall provide for fixed annual contributions
to a deferred income account for each volunteer member who meets the
certain criteria set forth below; such contributions shall be made
in accordance with a plan that shall be established by the Borough
of Alpine pursuant to P.L. 1997, c. 388, and such plan shall be administered
in accordance with the laws of the State of New Jersey, the United
States Internal Revenue Service Code and this article.
The LOSAP shall provide for annual contributions
commencing January 1, 2001, to each eligible member who meets the
following criteria:
A. Achieves the minimum number of points as set forth
on the point schedule set forth herein to be eligible for an annual
contribution.
B. The base contribution shall remain at $1,150 per year
but the Mayor and Council of the Borough of Alpine may from time to
time adjust the amount of contribution in accordance with the Consumer
Price Index as promulgated from time to time by the Department of
Community Affairs Local Finance Board.
[Amended 4-26-2017 by Ord. No. 770]
C. The contributions shall be $1,150 per year.
The estimated cost of this program has been
calculated at approximately $19,550 per year.
[Adopted 7-25-2001 by Ord. No. 592]
A Length of Service Award Program (LOSAP) is
herewith created in accordance with Chapter 388 of the Laws of 1997, to reward members of the Closter Volunteer Ambulance and
Rescue Corps, Inc., for their loyal, diligent and devoted services
to the residents of the Borough of Alpine.
The LOSAP shall provide for fixed annual contributions
to a deferred income account for each volunteer member who meets the
certain criteria set forth below; that such contributions shall be
made in accordance with a plan that shall be established by the Borough
of Alpine pursuant to P.L. 1997, c. 388; that such contributions shall
be made in conjunction with the LOSAP previously adopted by the Borough
of Closter to the Closter Volunteer Ambulance and Rescue Corps, Inc.,
with the Borough of Closter's annual contribution of $600 to an eligible
volunteer service (ambulance) corp member; and that such plan be administered
in accordance with the laws of the State of New Jersey, the United
States Internal Revenue Service Code and this chapter.
The LOSAP shall provide for annual contributions
commencing January 1, 2002, to each eligible member who meets the
following criteria:
A. Achieves the minimum number of points as set forth
on the point schedule set forth herein to be eligible for an annual
contribution.
B. Full vesting shall occur after five years of service.
Service prior to the adoption of this article may be counted towards
the vesting requirement.
C. The contributions shall be $250 per year.
The estimated cost of this program has been
calculated at approximately $7,500 per year.