Vacation Fund

Summary Plan Description Table of Contents

  1. To All Participants and Beneficiaries
  2. About Your Plan
  3. Your Responsibilities as a Participant
  4. Funding & Participation
  5. Vacation Fund Benefits and Payment of Administrative Expenses
  6. Benefit Distributions
  7. Benefit Claims and Appeals Procedure
  8. General Matters Applicable to the Plan
  9. ERISA Information

Your Responsibilities as a Participant

There are certain responsibilities which you, as a participant must assume. Failure to carry out these responsibilities could affect payment of your benefits. You must undertake the following responsibilities:

  • Ensure that an up to date card reflecting marital and beneficiary information is on file with the I.B.E.W. Local No. 701 General Vacation Fund

  • Open an account with the Vacation Fund’s designated bank, currently Amalgamated Bank of Chicago, for the direct deposit of your Vacation Benefits each month.

  • Notify the Fund Administration Office promptly, writing, if you have:

    1. a change of address;

    2. a change in marital status and submit the appropriate legal documents such as the marriage certificate, legal separation papers or final divorce decree; or

    3. a change in beneficiary for the Vacation Fund.

A detailed explanation of your responsibilities can be found in the appropriate sections of this SPD.