Vacation Fund

The vacation benefit you earn in a calendar year is automatically paid to you in March of the next calendar year. For example your 2011 benefit will be paid to you in 2012. You can elect to make withdrawals from your vacation account once per quarter. The first quarter is the months January, February and March. The second quarter is April, May and June. The third quarter is July, August and September. The fourth quarter is October, November and December. For example if you take an early withdrawal in May ( the second quarter) you will not be eligible for another early withdrawal until the third quarter which will begin in July. The checks are cut on the third Friday of each month. In order to receive an early withdrawal you must send in a completed Early Withdrawal Vacation Fund Form to the Benefit Funds Office by the Wednesday before the third Friday of the month. For example December’s early withdrawals will be cut on Friday December 16. In order to receive an early withdrawal this month you must send your completed Early Withdrawal Vacation Fund Form to the Benefit Funds Office by Wednesday December 14. You must complete and sign an early withdrawal form with each early withdrawal you take. You may fill out the form at the Benefit Funds Office or you may mail, email or fax the form to the Benefit Funds Office. Early Withdrawal Vacation Fund checks will be printed for only those members who send in the Early Withdrawal Vaction Fund Form by no later than the Wednesday before the Friday that the checks are printed - THERE ARE NO EXCEPTIONS. If you choose not to take an early withdrawal for the year you will automatically receive the total value of your account the following year. For example if you do not take any early withdrawals in 2011 you will automatically be sent your total account balance of the calendar year 2011 in March of 2012. If you do take one or more early withdrawals during the calendar year and you have a balance left in your account that balance will be sent to you in March of the following calendar year.

THE NEXT EARLY WITHDRAWAL VACATION FUND CHECKS WILL BE PRINTED ON FRIDAY, DECEMBER 16, 2011. IN ORDER TO RECIEVE AN EARLY WITHDRAWAL VACATION FUND CHECK ON FRIDAY, DECEMBER 16, 2011, YOU MUST SUBMIT A COMPLETED EARLY WITHDRAWAL VACATION FUND FORM BY NO LATER THAN WEDNESDAY, DECEMBER 14, 2011.

If you have any questions regarding your Vacation Fund Account please call the Benefit Funds Office at 718-784-8883