[Adopted 8-15-2001 by Ord. No. 01-18]
A length of service awards program (LOSAP) is hereby created in accordance
with Public Law 1997, Chapter 388 (N.J.S.A. 40A:14-183 et seq.) to reward
the members of the Barnegat Light Volunteer Fire Company for their years of
loyal, diligent and devoted service to the residents of the Borough of Barnegat
Light.
The LOSAP shall provide for fixed annual contributions to a deferred
income account for each member of the Barnegat Light Volunteer Fire Company
that meets the criteria set forth below. Such contributions shall be made
in accordance with a plan that shall be established by the Borough of Barnegat
Light pursuant to P.L. 1997, c. 388, and shall be administered in accordance
with the laws of the State of New Jersey, the U.S. Internal Revenue Code,
and this article.
The following referendum question shall be submitted to the voters of
the Borough of Barnegat Light at the November 6, 2001, general election:
A. Shall the Borough of Barnegat Light be authorized to
establish a length of service awards program for the Barnegat Light Volunteer
Fire Company members that serve the Borough of Barnegat Light, pursuant to
the following terms and conditions:
(1) The program shall provide for annual contributions to
a deferred income account for each active volunteer member that meets eligibility
criteria and in accordance with the schedule adopted by the Borough of Barnegat
Light.
(2) The proposed annual contribution for an active volunteer
member shall be $708.
(3) The estimated cost of the program has been calculated
as $29,736 for regular annual service.
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EXPLANATORY STATEMENT
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The Borough of Barnegat Light desires to sponsor a length of service
award program for the active volunteer members of the emergency service organizations
operating within the Borough. The award program would consist of an annual
contribution to a deferred compensation program for all qualifying members.
Members of the Barnegat Light Volunteer Fire Company would earn points for
organization-related activities, and they would qualify for the annual contribution
upon earning 50 points per year. Details of the point system are available
for public view in the office of the Barnegat Light Borough Clerk and are
posted in the Barnegat Light Borough Hall and the Long Beach Island Branch
of the Ocean County Library. The proposed maximum annual contribution for
each qualifying active member of the Barnegat Light Volunteer Fire Company
is $708, and the proposed estimated total amount to be budgeted for the program
is $29,736.
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This article shall not take effect unless it is ratified by the voters
as a public question at the next general election, as provided by law.
[Adopted 8-15-2001 by Ord. No. 01-19]
A length of service awards program (LOSAP) is hereby created in accordance
with Public Law 1997, Chapter 388 (N.J.S.A. 40A:14-183 et seq.) to reward
the members of the Barnegat Light First Aid Squad for their years of loyal,
diligent and devoted service to the residents of the Borough of Barnegat Light.
The LOSAP shall provide for fixed annual contributions to a deferred
income account for each member of the Barnegat Light First Aid Squad that
meets the criteria set forth below. Such contributions shall be made in accordance
with a plan that shall be established by the Borough of Barnegat Light pursuant
to P.L. 1997, c. 388, and shall be administered in accordance with the laws
of the State of New Jersey, the U.S. Internal Revenue Code, and this article.
The following referendum question shall be submitted to the voters of
the Borough of Barnegat Light at the November 6, 2001, general election:
A. Shall the Borough of Barnegat Light be authorized to
establish a length of service awards program for the Barnegat Light First
Aid Squad members that serve the Borough of Barnegat Light, pursuant to the
following terms and conditions:
(1) The program shall provide for annual contributions to
a deferred income account for each active volunteer member that meets eligibility
criteria and in accordance with the schedule adopted by the Borough of Barnegat
Light.
(2) The proposed annual contribution for an active volunteer
member shall be $314.
(3) The estimated cost of the program has been calculated
as $13,188 for regular annual service.
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EXPLANATORY STATEMENT
|
|
The Borough of Barnegat Light desires to sponsor a length of service
award program for the active volunteer members of the emergency service organizations
operating within the Borough. The award program would consist of an annual
contribution to a deferred compensation program for all qualifying members.
Members of the Barnegat Light First Aid Squad would earn points for organization-related
activities, and they would qualify for the annual contribution upon earning
50 points per year. Details of the point system are available for public view
in the office of the Barnegat Light Borough Clerk and are posted in the Barnegat
Light Borough Hall and the Long Beach Island Branch of the Ocean County Library.
The proposed maximum annual contribution for each qualifying active member
of the Barnegat Light First Aid Squad is $314, and the proposed estimated
total amount to be budgeted for the program is $13,188.
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This article shall not take effect unless it is ratified by the voters
as a public question at the next general election, as provided by law.