Section 100-B:11 - Administration Reporting and DisclosureI.(a) The trustee shall provide each active member who participates in a service awards program maintained under this chapter with a summary of the program's provisions, including the program's provisions relating to the participation requirements and the program's service awards formula for distributing contributions, which shall be as follows: Retiring After: 5-6 years: The member's contributions plus 20 percent of the sponsor's contributions. 6-7 years: The member's contributions plus 40 percent of the sponsor's contributions. 7-8 years: The member's contributions plus 60 percent of the sponsor's contributions. 8-9 years: The member's contributions plus 80 percent of the sponsor's contributions. 9-10 years: The member's contributions plus 100 percent of the sponsor's contributions. over 10 years: 100 percent of all contributions.
(b) This summary shall be provided to each service awards program participant within 6 months from the date the program participation commences. In addition, any material modification to such program provisions shall be communicated in writing to each participant within 6 months after the later of the date modification is adopted or the date it is effective. A copy of this program, the summary of the program, and documents related to the funding or investment of the assets of the program and of any contracts or agreements with service providers to the program shall be made available for inspection or copying by a program participant or beneficiary at the sponsor's main office.II.(a) It shall be the responsibility of the governing body of each municipality to maintain all required records on forms prescribed by the committee.(b) Each fire department shall furnish to the governing body of the municipality a list of all volunteer members, certified under oath, and shall identify those volunteer members who have qualified for credit under the program for the previous year. Such list shall be submitted annually by February 15.(c) The governing body of each municipality shall review the list of each fire department and approve the final annual certification. The approved list of certified members shall then be returned to the fire department and posted for at least 30 days for review by members. 1996, 211:1, eff. Jan. 1, 1997.