[HISTORY: Adopted by the Borough Council of the Borough of Glen Rock 7-25-2001 by Ord. No. 1383. Amendments noted where applicable.]
A Length of Service Awards Program (LOSAP) is herewith created in accordance with Chapter 388 of the Laws of 1997, to reward members of the Glen Rock Volunteer Fire Department and Glen Rock Volunteer Ambulance Corps for their loyal, diligent, and devoted services to the Borough of Glen Rock.
The LOSAP shall provide for fixed annual contribution to a deferred income account for each volunteer member that meets the criteria set forth below, that such contributions shall be made in accordance with a plan that shall be established by the Borough of Glen Rock pursuant to P. L. 1998, c. 388; and that such 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 that meets the criteria as follows:
One hundred points are required to be met for a member of the Volunteer Fire Department, and 700 points are required to be met for a member of the Volunteer Ambulance Corps to be eligible for an annual contribution;
To be eligible a volunteer must complete all requirements mandated by law;
Five years of service are required for vesting; and
The annual contribution shall be $1,150 per eligible member.
The estimated cost of the program has been calculated as follows: for regular annual services, $90,000 per year.
Each active volunteer member shall be credited with points for volunteer services provided to the volunteer fire company/ambulance corps in accordance with the following schedule: