Owasco Fire Department. Public Referendum 9/21 6pm-9pm

NOTICE OF PUBLIC REFERENDUM

PLEASE TAKE NOTICE that pursuant to General Municipal Law Section 216, a public referendum of the residents of the Owasco Fire District will take place on September 21, 2022 between the hours of 6:00 pm and 9:00 pm local time in the Town of Owasco, Fire Station One, located at 7174 Owasco Road, Cayuga County, State of New York for the purpose of voting upon the following proposition:

SHALL THE BOARD OF FIRE COMMISSIONERS OF THE OWASCO FIRE DISTRICT ESTABLISH A DEFINED CONTRIBUTION SERVICE AWARD PROGRAM TO BE ADMINISTERED BY THE FIRE DISTRICT IN ACCORDANCE WITH ARTICLE 11-A OF THE NEW YORK GENERAL MUNICIPAL LAW FOR ACTIVE VOLUNTEER FIREFIGHTER MEMBERS OF THE OWASCO FIRE DEPARTMENT EFFECTIVE JANUARY 1, 2022, UNDER WHICH: AN ANNUAL $1000 SERVICE AWARD SHALL BE CREDITED TO A PARTICIPATING VOLUNTEER’S SERVICE AWARD PROGRAM ACCOUNT BALANCE AT THE END OF EACH YEAR OF CREDITED ACTIVE VOLUNTEER FIREFIGHTER SERVICE TO THE OWASCO FIRE DEPARTMENT INCLUDING UP TO FIVE YEARS OF OWASCO FIRE DEPARTMENT ACTIVE VOLUNTEER SERVICE PRIOR TO JANUARY 1, 2022 BUT AFTER DECEMBER 31, 2016 THAT A VOLUNTEER WILL RECEIVE $700 PER YEAR OF CREDITED SERVICE;  SUCH PARTICIPANT’S PROGRAM ACCOUNT BALANCE WITH INTEREST EARNED OR PAID THEREON SHALL BE THE PARTICIPANT’S ACCRUED SERVICE AWARD; AND THAT PARTICIPANTS SHALL BE PAID GENERALLY AT AGE 62, THE ENTITLEMENT AGE, A LUMP-SUM PAYMENT EQUAL TO THEIR ACCRUED SERVICE AWARD; PAYMENT OF ACCRUED SERVICE AWARDS SHALL BEGIN AS OF JANUARY 1, 2023, AS VOLUNTEERS OR THEIR BENEFICIARIES BECOME ELIGIBLE FOR PAYMENT; ACTIVE PARTICIPATING POST AGE 62 VOLUNTEERS MAY EARN CREDIT AFTER HAVING BEEN PAID SERVICE AWARDS; THE ESTIMATED TOTAL ANNUAL COST OF THE PROPOSED PROGRAM FOR CURRENT VOLUNTEERS IS $47,248 INCLUDING AN ADMINISTRATION FEE OF $3,500; THE ESTIMATED ANNUAL COST PER CURRENT VOLUNTEER IS $1,687; THE ANNUAL COST FOR CURRENT VOLUNTEERS SHALL DECREASE TO ABOUT $30,000 AFTER (5) YEARS WHEN THE COST OF SERVICE EARNED FOR YEARS PRIOR TO 2021 SHALL BE FULLY PAID.

PLEASE TAKE FURTHER NOTICE that a copy of the aforesaid resolution and a copy of the Point System for earning service credit referred to in said resolution are available for inspection at the said Owasco Fire District, and that every person who shall be a registered voter and who shall have resided in the Owasco Fire District for a period of thirty (30) days immediately preceding the referendum shall be eligible to vote upon the proposition.