Vacation Benefit Information
To find out if you are working in Covered Employment or to ask questions about your Vacation Benefits, contact the NYCDCCBF Member Services Call Center at Center at (800) 529-FUND (3863) or (212) 366-7373.
Vacation Benefit
The NYCDCC Welfare Fund provides you with Vacation Benefits for your work in Covered Employment. The Welfare Fund was established through collective bargaining between the New York City District Council of Carpenters of the United Brotherhood of Carpenters and Joiners of America (the “Union”) and Contributing Employers. The Fund is administered by a Board of Trustees (the “Trustees”) representing labor and management and is funded by employer contributions.
You are eligible for Vacation Benefits if you are working in Covered Employment for an employer who is required by a Collective Bargaining Agreement to make contributions to the Welfare Fund for Vacation Benefits on your behalf.
*Please Note- Effective as of October 1, 2013, all participants are required to fill out two separate beneficiary forms. One form, which comes from the Fund Office, designates a beneficiary for your Pension and Welfare benefits. The second form, which comes from Empower, designates a beneficiary for your Annuity benefits. If you have only completed one of these forms, your beneficiary designation will not carry over for both. Instead, your benefit for the form you have not completed will be paid out in the manner stated in the appropriate Summary Plan Description (“SPD”). Further, if you have failed to complete either form, all of your benefits will be paid out as stated in the SPDs. Participants should also note that beneficiaries should be changed on both forms in the event of a divorce or separation agreement. Divorce judgments and/or wills cannot always be applied to Pension, Welfare, and Annuity benefits without completed beneficiary forms.
Vacation Benefit Documents
Vacation Summary Plan Description
Summary Of Material Modifications (SMM)
Vacation Benefit Summary of Material Modifications- June 2012
Other
Instructions for Entering Vacation Direct Deposit Information
Instructions for Entering Direct Deposit Information (Spanish)
Vacation Benefit Mandatory Debit Card Program- February 2017
To request any forms or documents that you do not see available on the website, please call the Benefit Funds Call Center at (800) 529-FUND (3863) or (212) 366-7373.
FAQs
Are my Vacation Benefits subject to garnishment?
Yes. The Fund is required to honor any court order, garnishment or other final judgment of a court of law or the Internal Revenue Service, but only up to the amount that has accrued and has not been paid out at the time the garnishment is received.
What happens to my Vacation Benefits if I die without a Beneficiary?
Since you are 100% vested (unless fraud is committed), any money in your Vacation Account will be paid to your beneficiary. If you do not have a Beneficiary, payments will be made in the following order:
- your surviving spouse, or, if none,
- your children in equal shares, or, if none,
- your parents in equal shares, or, if none,
- your brothers and sisters in equal shares, or, if none,
- your estate.
Do I have to pay income taxes on my Vacation Benefits?
Yes. Your Vacation Benefits are taxable as ordinary income. Vacation Benefits are subject to income tax withholding, which are processed by your employer and are included on the W-2 Form that is sent to you each year in January from your employers.
Can I lose the right to my Vacation Benefits?
Yes. You are always 100% vested in the contributions that are made to your Vacation Account, unless fraud is committed. If you die before all of your Vacation Benefits have been paid, any remaining money in your Vacation Account will be paid to your Beneficiary. However, your Vacation Benefits may be suspended or forfeited if you commit fraud.
When are Vacation Benefits paid?
Vacation Benefits are paid out four times per year, generally in March, June, September, and December. Payouts are made via direct deposit or a rapid! PayCard.
How much money do I receive in Vacation Benefits?
You will receive all contributions made to your Vacation Account by your employer. Your Vacation Account does not pay interest.
Do I have to make contributions to the Welfare Fund for Vacation Benefits?
No. Your employer makes all contributions for Vacation Benefits. Such contributions are deposited to a Vacation Account set up in your name.
Who is eligible to receive Vacation Benefits?
You are eligible if you are working in Covered Employment for an employer who makes contributions to the Welfare Fund for Vacation Benefits on your behalf.
