[Adopted 8-27-2002 by Ord. No. 2348 (Ch. 25, Art. IV, of the 1979 Code)]
A Length of Service Awards Program (LOSAP) is hereby created in accordance with Chapter 388 of the Laws of 1997 (N.J.S.A. 40A:14-183 et seq.) to reward the active volunteer fire fighters of the City of Garfield Volunteer Fire Department for their loyal, diligent and devoted services to the residents of the City of Garfield.
The Length of Service Awards Program shall provide for fixed annual contributions to a deferred income account for each volunteer member that meets the criteria set forth in the LOSAP eligibility document, designated as "Exhibit A" and attached hereto and made a part of this article;[1] such contributions shall be made in accordance with a plan that shall be established by the voters of the City of Garfield 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 U.S. Internal Revenue Code and this article.
[1]
Editor's Note: Exhibit A, as amended 3-25-2003 by Ord. No. 2363, is on file in the City offices.
The Length of Service Awards program shall provide for annual contributions to each eligible active volunteer firefighter that meets the eligibility criteria as set down in Section A of the LOSAP eligibility document, designated as "Exhibit A" and attached hereto and made a part of this article.
The estimated annual cost of the program for annual services has been calculated to be $201,250. The maximum amount to be credited to any qualified individual shall not exceed $1,150, subject to periodic increases approved by the New Jersey Division of Local Government Services.
Each active volunteer member shall be credited with points for volunteer services provided to the volunteer fire company in accordance with the schedule provided in Section B of the LOSAP eligibility document designated as "Exhibit A" as made a part of this article.
This article shall not take effect unless it is approved by the voters of the City of Garfield as a public question to be placed on the ballot at the next general election to be held November 5, 2002.[1]
[1]
Editor's Note: This article was approved at the general election 11-5-2002.
Upon approval of the voters of the City of Garfield at the general election, the City Council of the City of Garfield is hereby authorized to enter into a plan agreement with an organization approved and qualified to administer and manage Deferred Compensation and Length of Service Awards Programs for the establishment of member accounts pursuant to the laws of the State of New Jersey, the United States Internal Revenue Service and the provisions of this article.
Pursuant to the adoption of this article, the City Council of the City of Garfield shall establish a separate line item appropriation within the 2003 municipal budget and appropriate such funds as anticipated to cover the cost of the first year's program costs.