President's Corner

 

October 2020 Critical Fights in Complex Times

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Vacation Savings

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 of each January.

There are three ways to receive your Vacation Savings Benefit:

  1. By mail—Checks are sent automatically. You don’t need to do anything. If you move, please make sure that the Fund Office has your current address before December 20th.
  2. Direct deposit—You may have your Vacation Savings Benefit deposited directly into your Credit Union savings account. Contact MOE Credit Union for more information on direct deposit.
  3. Pick up in person—If you wish to pick up your vacation savings check, you must submit a request to the Fund Office no later than December 31. You may pick up your check beginning on the fourth Wednesday of January between the hours of 8:00 a.m. until 5:00 p.m. (Monday through Friday). You must have two forms of identification including at least one form of a photo ID. Please note the member is the only person who may pick up a vacation savings check.

For more information on the Vacation Savings Benefit, please click here to visit the Fund website.