Saturday, July 4, 2020

Your Savings Plan Benefits


Savings plan contributions in the amount stated in the Collective Bargaining Agreement are paid to you by your employer as gross wages, subject to all taxes, and then deducted from your paycheck at the full rate called for in the Collective Bargaining Agreement. Your employer is then obligated to send the savings plan contributions to the Health Trust.

Each month, the Plan Administrator will deposit the savings plan contributions received on your behalf into an individual savings plan account in your name at a bank, savings and loan or credit union designated by you. Savings plan contributions will normally be transferred electronically to your designated bank, savings and loan or credit union by the 25th day of the month.