Vacation Savings Benefits are paid to members whose contracts include this benefit. Vacation savings is an hourly amount paid to members by their employers and is included in their gross wages. This amount is taxed then deducted by the employer and forwarded to the Fund Office.
Payments received from employers January 1 through December 31, representing the work months of December through November, are accumulated for each member. At the end of the year all accounts are reconciled and the monies are paid out. The payout occurs the fourth Monday each January.
In accordance with the Fund Trust Agreement, contributions received for the work months of December 2015 through November 2016, will be paid on January 23, 2017. There are three ways to receive your Vacation Savings Benefit:
If you have any questions regarding your Vacation Savings, call the Fund Office at (708) 482-7300.
Each Year the Vacation Savings Fund has numerous Vacation Savings checks either not mailed or returned because of incomplete or old mailing addresses on file. To change your address, please visit My150 (www.my150.com) and click on ‘My PROFILE’. Your updated address will be disseminated across all Local 150 organizations.