Benefit Summaries

These summaries are consise versions of the highlights of major plan features and rules. They are meant for easy reference, particularly on a mobile device, and are not intended to be authoritative.

The Summary Plan Description (SPD) contains the full description of the Plan rules and benefits. When in doubt, consult the SPD.

• Plan Overview

  Vacation Plan — At a Glance

  The Vacation Plan provides payments funded by employer contributions made on your behalf. These payments are intended to provide income during periods such as vacations, time off, or other personal needs, as described in the Plan.

  Who Is Covered

  • You are covered if participating employers make contributions on your behalf in accordance with the applicable collective bargaining agreement.
  • Coverage depends on employer participation and contribution requirements under the Plan.

  Who Pays

  • Employers only make Vacation contributions.
  • Employees do not contribute to the Vacation Plan.

  This summary highlights key features of the Plan. The Summary Plan Description (SPD) contains the full description of the Plan and controls if there is any conflict.

• What You Need to Do

  Simple Steps to Stay on Track

  To help ensure timely payment of your Vacation benefits:

  • Open and maintain an account at the designated bank (ABOC) to receive monthly deposits.
  • Keep your contact information current with the Fund Office.
  • Review your beneficiary designation and update it when needed.
  • Contact the Fund Office if you have questions about your Vacation balance, payment timing, or required forms.

  You do not need to apply for benefits—payments are issued automatically according to Plan rules.

• How Benefits are Paid

  Payment Timing and Method

  No Application Required

  You do not need to apply or submit a request to receive Vacation benefits.

  How Payments Are Issued

  • With an account at the designated bank (ABOC):
    Vacation benefits are deposited monthly into your account.
  • Without an ABOC account:
    Vacation benefits are paid by check twice each year, on May 1 and December 1.

  Payment Timing

  Payments are made based on employer contributions credited to your Vacation account, in accordance with Plan rules.

  Tax Treatment

  Your Vacation Fund money has already been taxed by your employer.

• Death Benefit

  If a Participant Dies

  If a participant dies, any undistributed Vacation benefits are paid as follows:

  • First, to the designated beneficiary on file with the Fund.
  • If no beneficiary is designated, benefits may be paid to the participant’s estate, provided a proper claim is made within the time limits required by the Plan.

  If no timely claim is made, undistributed benefits may be forfeited under the Plan’s rules.

  Keeping your beneficiary designation up to date helps ensure benefits are paid promptly.