Vacation Plan Benefit
When Benefits Payable are Payable
The Vacation benefit year starts on July 1st of one year and ends on June 30th of the next year. The vacation benefit accumulated between July 1st and June 30th of the year is, at the direction of the Trustees, paid to each participant during the following December or as soon thereafter as possible.
Amount of Vacation Benefit
The Vacation benefit shall be the amount of the contributions made on the fund participant’s behalf to the Vacation Fund in any July 1st to June 30th period.
Payment of Vacation Benefits
Vacation benefits are automatically paid to each participant each year. A check in the amount of the vacation Benefit will be mail to each participant’s last known address.
** Please call Fund Office if you change your address**
This year Local 1298 will be giving its member's the option to utilize Direct Deposit for their Vacation Fund check. We realize that this option may be more convenient for members who do not wish to wait for their check in the mail.
Checks will be deposited on December 1st of each year in which the member is owed a Vacation Fund check. In order to utilize Direct Deposit, please fill out the attached form with your bank information and attach a voided check. Voided checks are required if your account is a checking account!!!
Mail Completed form to:
Local 1298 Benefit Funds
681 Fulton Ave Hempstead NY 11550
**This form must be returned by November 1 st.**
**Any forms received after November 1st will not be accepted**
If your bank information changes between the time that this form is received and December 1st
contact the Benefit Fund Office immediately. Failure to do so will result in a delay of receiving your vacation check.
If you have any questions, please call 516-489-3644 Ext. 412, 413, or 418.
If a participant dies, the unpaid balance in his/her vacation account will be paid to the beneficiary he designated to receive any benefits payable from the Welfare Fund. If no beneficiary is designated or if the designated beneficiary pre-deceased the participant, the money will be paid to the participant’s estate.
Assignment of Vacation Benefits
Vacation benefits may not be assigned, pledged, encumbered, released or committed.