Vacation Savings Benefits are paid to members whose contracts include this benefit. Vacation savings is an hourly amount paid to members by their employer and is included in their gross wages. This amount is taxed then deducted by the employer and forwarded to the Fund Office.
Contributions 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 2021 through November 2022, will be paid on January 23, 2023.
Your current Vacation Savings balance and contribution details may be found on your My150 (www.my150.com) account under the My Hours tab.
If you have any questions regarding your Vacation Savings, please call the Vacation Savings Department at (708) 937-1741.
Each year there are 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 (except ASIP and the Credit Union).
There are three ways to receive your Vacation Savings Benefit:
- By mail –Checks are sent automatically. You do not need to do anything. If you move, please make sure that the Fund Office has your current address before December 9th. You can verify and update your address on My150 (www.my150.com).
- Direct deposit –You may have your Vacation Savings Benefit deposited directly into your Credit Union savings account. Direct deposits will be credited on January 23, 2023. Contact the Midwest Coalition of Labor Credit Union for more information on direct deposit at (708) 482-9606.
- Pick up in person –The process for picking up your vacation savings check has been modified. If you wish to pick up your check, you must submit a request to the Fund Office no later than January 2, 2023. Your check will be available for pick up by appointment only beginning on Wednesday January 25, 2023, through Friday January 27, 2023, between the hours of 3:00 p.m. – 5:00 p.m. If your check is not picked up by the end of business day on Friday January 27th, it will be mailed to you on January 30th. You must provide a valid photo ID with an address matching the Fund Office’s records. Please note the member is the only person who may pick up a vacation savings check.