Archives - January 1970
Archives - January 1970
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. read more...
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,… read more...
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. read more...
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… read more...
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. read more...
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. read more...
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. read more...
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. read more...
