SECTION 4 – VACATION PAYMENTS
On or after December 1st, or as soon thereafter as practicable, an eligible Participant or his/her Beneficiary shall receive a vacation check. The amount of the vacation check is based upon the contributions which have been paid into the Fund on the Participant’s behalf for the preceding Benefit year. Vacation monies are paid only on contributions that are credited to the Participant minus administrative expenses within each Benefit year. No participant will be paid benefits in excess of contributions.
- The Benefit year for the purpose of calculation shall be the first Saturday after the last Friday in September, through the next ensuing last Friday in September. In cases where pay periods are not each Friday, all pay period ending on dates within the benefit year will be included in that benefit year. In cases where pay periods are not each Friday, all pay periods ending in the calendar month within the benefit year will be included in the calculation.
- The base Vacation shall be ten business days.
- Notwithstanding anything herein contained to the contrary, Participants who have the following years of accumulated service shall be eligible to a longevity vacation as set forth below:
Accumulated Years Longevity 10 Years up to 15 Years an additional 1 week 15 Years through 30 Years an additional 2 weeks 30 Years or more an additional 3 weeks
The longevity vacation is not included in a Participant’s Vacation Allowance.