[HISTORY: Adopted by the Mayor and Council of the Borough of Kenilworth 7-12-2000 by Ord. No. 2000-17. Amendments noted where applicable.]
A Length of Service Awards Program (LOSAP) is hereby created in accordance with Chapter 388 of the Laws of 1997, to reward members of the volunteer Fire Department and First Aid Squad for their loyal, diligent and devoted services to the residents of the Borough of Kenilworth.
Editor's Note: See N.J.S.A. 40A:14-183 et seq.
The LOSAP shall provide for fixed annual contributions 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 Kenilworth pursuant to P.L. 1997, 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 an annual contribution of $1,150 to each eligible member who accumulates a minimum of 350 service points which shall be awarded pursuant to the following criteria:
The estimated cost of the program for regular annual services has been calculated to be $66,700 per year.