V A C A T I O N
How Your Supplemental Benefit Is Determined
Your portion of the supplemental vacation fund is based on category, credited years of service, and a point system. It depends on the number of points you have, as well as on the number of eligible participants in your category. Both of these criteria are based on your Credited Years of Service, as shown by this chart:
| Category |
Credited Years of Service |
Points |
| A |
1 through 3 |
1 |
| B |
4 through 5 |
2 |
| C |
6 through 10 |
3 |
| D |
11 through 15 |
4 |
| E |
16 and over |
5 |
To determine the benefit amount payable for each point, the total funds available are divided by the total number of points accumulated by all eligible participants.
Total funds available |
÷ |
Total number of points
accumulated by all
eligible participants |
= |
Amount payable for each point |
Determining Your Benefit: An Example
If the total available funds equal $700,000 and the total points accumulated by all eligible participants equal 3,500, here’s how the amount payable per point would be
calculated:
$700,000 ÷ 3,500 = $200
In this example, a participant’s points would be multiplied by $200 to determine the amount of the benefit. This chart shows the benefit amount for each category.
| Category |
Credited Years of Service |
Points Times
Amount Payable |
Amount of Benefit Per Point |
| A |
1 through 3 |
1 x $200 |
$200 |
| B |
4 through 5 |
2 x $200 |
$400 |
| C |
6 through 10 |
3 x $200 |
$600 |
| D |
11 through 15 |
4 x $200 |
$800 |
| E |
16 and over |
5 x $200 |
$1,000 |
Taxes and International Dues
Federal and state income taxes, as well as Medicare and Social Security taxes, will be withheld from your supplemental vacation benefit. In addition, the welfare fund is required to withhold 10% of your gross benefit and send it to the Inernational for membership dues. Your supplemental vacation benefit may be subject to any garnishment imposed by law against you.
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