| Carpenters’ Vacation Savings Plan |
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A member has the option to withdraw all or part of the balance in their account at any time before the closing of the accounts. If you choose to make an early withdrawal, you are forfeiting any interest that would be earned at the end of the fiscal year. To withdraw money from your account you must submit the following form to the Carpenters' Vacation Savings Plan. All requests must be submitted by Wednesday at 4:30 p.m. and checks will be available for pick up or mailing on Friday after 12:00 p.m. (this schedule may change for holidays). Your form can be mailed, faxed or emailed using the following methods: Mail requests to: Fax requests to: Email requests
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You may also request to withdraw from your account by writing a letter including: your name, social security number, address, phone number, the amount you wish to withdraw, whether you would like to pick up your check or have it mailed, and your signature. If you want someone else to pick up your check for you please indicate that in your request making sure you write the name of the person who is going to pick it up. That person must be prepared to show I.D. when picking up your check. To check your current balance, click on My Benefits. |
As part of the Carpenters' Fringe Benefits Package, $1.00 an hour ($2.00 an hour for Millwrights and Piledrivers) is reported under the Vacation Savings Plan. The money is put into a savings account (less any personal contribution to the PAC fund) and held for one year. The Vacation Fund is based on a fiscal year, beginning with hours worked from April 1st and ending March 31st. At the end of the fiscal year the accounts are closed, interest is added to the balance of the account and the money is distributed to each member accordingly. The checks are then mailed at the end of May. No one has access to their vacation savings account from the time the accounts are closed (usually at the end of April) until the time the accounts are reopened (usually the end of June).