The Vacation, Holiday and Unemployment Plan provides you with valuable supplementary benefits. All contributions to the Plan come from your employer, based on the collective bargaining agreement between the Union and your employer.
This information provides the highlights of the Vacation, Holiday and Unemployment Plan.
You’re in right away. If you are eligible, you automatically become a participant as of the first day that an employer contributes to the Plan on your behalf, based on your collective bargaining agreement. There are two types of participants:
- Your employer contributes to your individual account within the Plan
- Your employer contributes to the pooled Fund benefits on your behalf
Your employer makes all contributions. Employer contributions are specified by your collective bargaining agreement and are credited directly to your account or to the pooled Fund benefits.
It’s always all yours. You have a fully vested, nonforfeitable right to your account balance as of your first day of participation in the Plan.
You’ll get paid even when you are on vacation. Weekly vacation benefits vary from a minimum of $824 to a maximum of $2,189 for based on your classification.
When you are subject to a Furlough Program, no vacation benefits are payable from the Plan. In order to be eligible for supplementary vacation benefits from the Plan, you must maintain a $2,000 account balance.
Get paid when you’re out for a holiday. Holiday benefits vary from a minimum of $68 to a maximum of $282 based on your classification.
Income when you’re out of work. Weekly supplementary unemployment benefits vary from a minimum of $208 to a maximum of $525 based on your classification.
If you retire, die or withdraw from the Electrical Industry, any remaining balance in your account will be paid in a lump-sum.
Eligible, active participants are entitled to a group life insurance benefit of up to $50,000 and an accidental death and personal loss benefit of up to $50,000. This benefit is provided through the Lincoln Life and Annuity Company.
*In the event you do not have sufficient funds in your Plan account, these benefits can be paid directly from your Additional Security Benefits Plan or Deferred Salary Plan account if you have sufficient funds in these accounts, based upon the applicable Plan’s rules.
Plan Name: Vacation, Holiday and Unemployment Plan of the Electrical Industry
Plan Identification Number: 13-1853892
Plan Number: 503
Plan Year: January 1 to December 31
Type of Plan: This is an employee welfare benefit plan designed to pay supplementary unemployment, vacation and holiday benefits.
Plan Administrator: Joint Industry Board of the Electrical Industry
Forms and Documents
NY State Department of Labor