Taxable Vacation Benefit & Payment Dates
You are eligible for a Vacation Benefit if you are an active participant, and the wage and benefit package for your work has a Vacation Benefit contribution or the Board allocates a portion of the Health & Welfare contribution for your work to a Vacation Benefit. The Vacation Benefit is a portion of the “Cafeteria Benefit” contribution for your work as allocated to this benefit by the Plan. Only contributions actually paid to the Plan for your work are used in the calculation.
Union Building Trades Federal Credit Union
Payments are taxed and directly deposited into the bank account of record with the Fund office on a quarterly basis. If no direct deposit information is provided, an account will be created for you at the Union Building Trades Federal Credit Union.