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What is an Early Withdrawal Payment and when is it paid?

April 26, 2017early paid payment withdrawal

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What is an Early Withdrawal Payment and when is it paid?

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Vacation and Holiday benefits are normally paid on or about January 31 st of each year. However for specific reasons as determined by the Board of Trustees, a participant may qualify for an early payment. Participants who qualify under the rules of the Plan may request an early payment of the Participant’s entire account balance. Such payments are provided within one week after an application is approved. Back to top Q: How do I apply for an Early Withdrawal of my vacation fund? A: If you are an Active Participant you may be eligible to take an Early Withdrawal from your Vacation Fund, provided you have not already had an Early Withdrawal within the past 12 months and you have not already had two Early Withdrawals within the past 36 months. See the Early Withdrawal Application and the Summary Plan Description for more detail regarding eligibility for an Early Withdrawal.