This payment is the default payment option. You are automatically enrolled to receive this benefit by check in December each year. All benefits will be paid by check unless the appropriate direct deposit form is accurately and timely filed.
The Normal Benefit is equal to 100% of your individual account balance as of November 30th (based on hours reported through the work month of October). It also includes 100% of any surplus income posted to your account minus any individual fees or amounts paid as a monthly benefit or interim withdrawal option (explained below).
Interim Withdrawal (Optional) - You may receive 100% of the available balance in your individual account by requesting an interim withdrawal. To request this option, you must submit an Interim Withdrawal Form to the Fund Office. Only one interim withdrawal is permitted per calendar quarter. Please review the deadlines and requirements detailed on the form.
If you want to receive your December and any interim withdrawal payments by direct deposit, you must submit the Authorization Agreement for Direct Deposit to the Fund Office. Please review the deadlines and requirements explained on the form.
REMINDER: During busy periods (from November 20 through December 10, Interim Withdrawals may be unavailable due to staff time needed to process normal payments.
For more information, contact the Fund Office. Also check the Paid Time Off Frequently Asked Questions (FAQs).
