[HISTORY: Adopted by the Mayor and Council of the Borough of Wenonah 8-22-2002 by Ord. No. O-02-9. Amendments noted where applicable.]
Editor's Note: The Length of Service Awards Program (LOSAP) was approved by the voters of the Borough of Wenonah at the General Election of November 5, 2002.
A Length of Service Awards Program ("LOSAP") is herewith created in accordance with Chapter 338 of the Laws of 1997, to reward members of the Borough, all of whom are volunteer firefighters and/or rescue squad members, for their loyal, diligent and devoted services to the residents of the Borough of Wenonah, effective January 1, 2003.
The LOSAP shall provide for fixed annual contributions to a deferred income account for each volunteer firefighter and/or rescue squad member that meets the criteria set forth below; that such contributions shall be made in accordance with a plan that will be established by the Borough of Wenonah pursuant to P.L. 1997, c. 388 (N.J.S.A. 40A:14-183 et seq.); and that such plan shall be administered in accordance with the laws of the State of New Jersey, the U.S. Internal Revenue Code, and this ordinance.
The LOSAP shall provide for annual contributions to each active eligible member that meets the following criteria and as set forth in Schedule "A" attached hereto:
Must be a minimum of 18 years of age.
Active eligible members shall be vested after five years of service upon commencement of the LOSAP program.
The annual contribution shall be $1,000 per active eligible member with a maximum annual contribution, including prior service credit, of $1,150.
The LOSAP shall provide for contributions as credit not to exceed 10 years of prior years services for each eligible volunteer in accordance with the following schedule:
An active eligible member shall receive prior years service credit payable at the rate of $150 per year, up to and not exceeding $1,500.
The estimated cost of the program has been calculated as follows:
Each active volunteer member shall be credited annually on December 31st with points for volunteer services provided to the volunteer fire companies in accordance with the following schedule: (See Schedule A annexed hereto.)