You are eligible for a Vacation Benefit if: (1) you are an active participant, and (2) the wage and benefit package for your work has a "Cafeteria Benefit" or vacation benefit contribution or the Board allocates a portion of the Health & Welfare contribution for your work to a Vacation Benefit.

The Vacation Benefit is a portion of the "Cafeteria Benefit" contribution for your work as allocated to this benefit by the Plan. Only contributions actually paid to the Plan for your work are used in the calculation.

The Vacation Benefit contribution is a gross payment to the Plan before taxes. Any payment will be reduced by any withholding or employment taxes which the Plan is required to pay or to withhold, directly or as an agent of the Employers. (Dependent Care FSA contributions and reimbursements will have tax adjustments).

The Vacation Benefit is not insured and is funded solely by employer contributions.

Except for amounts allocated to a Dependent Care benefit, you do not need to apply for a Vacation Benefit. The Fund Office will issue payments automatically to eligible Employees on each of the designated Vacation Payment Dates. Payments will be deposited into a financial institution of your choosing, or if none is provided, an account will be created for you at the Union Building Trades Federal Credit Union.

The Fund Office expects to issue payments around the 15th of each Vacation Payment Date month, but  can adjust the actual payment date to account for holidays and other banking or operational issues.

The Plan provides options beyond a direct payment for your Vacation Benefit.

Union Dues and Assessments: If you have elected to have your Vacation benefit deposited into the Union Building Trades Federal Credit Union, you will be able to assign the Credit Union to transfer funds to the Council or a Local Union for the payment of union dues and assessments on your behalf. This is a convenient way to make sure you do not become delinquent.

Dependent Care Expenses: You will be offered the option to allocate vacation contributions to a Dependent Care Flexible Spending Account (FSA) each year. The Dependent Care FSA can reimburse you for eligible childcare expenses in a calendar year on a pre-tax basis.

If you have a delinquent Annuity Plan loan, your vacation benefit will continue to be applied to that debt under your Pledge Agreement with the loan.

You will lose any unpaid Vacation Benefits if you lose eligibility for active employee health benefits due to leaving Covered Employment as your chief source of livelihood or perpetrate fraud or similar misconduct against the Fund.

All Vacation Benefit payments which are returned from the financial institution on file can only be re-issued if a written request is filed with the Fund office within 36 months of the original payment date.