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FAQ

The answers to frequently asked questions below are general in nature and do not modify the terms of their respective Plans. You should refer to the related Summary Plan Description for more specific information regarding each Fund's Plan.

Top Frequently Asked Questions

How do I know if I am a participant in the Plan?

If you are working for an Employer who is required to make contributions to this Plan pursuant to a Collective Bargaining Agreement with the International Union or an Affiliated Local, and contributions are received on your behalf then you are considered a participant of the Plan.

Do I need to file an application for Annuity benefits?

Yes. An Application for Annuity distribution can be made available to you by contacting the Fund Office. Once completed, the application must be sent to the Fund Office for completion and submission to Wells Fargo. Wells Fargo will issue your distribution directly to you or your beneficiary.

What information must be included on a remittance report?

A full list of the information required on a remittance report can be found in the Employer Contributions & Collections Guidebook, which can be found in the Forms section of this website. We encourage you to carefully read the requirements because incomplete reports will be rejected and may jeopardize benefit entitlement to your members/employees.

 

How often am I notified of the activity in my account?

Wells Fargo issues quarterly statements and your account information is available to you 24 hours a day, 7 days a week by logging onto Wells Fargo's website which is https://www.wellsfargo.com/.  There are direct links to Wells Fargo from your personal dashboard on this site. 

Is there a specific format that must be used for a remittance report?

No.  Although there is a sample remittance report in the Forms section of this website which may be used for submitting contributions, there is no required format as long as all of the necessary information is included on the report in a clear and legible manner.

How do I notify the Fund of an address change?

You must keep the Fund advised if you move, otherwise valuable benefit information may not reach you. You can update your address directly on this site by going to your profile.  Even if you've notified your Union, your Employer or the International do not assume that the Annuity Fund has your current information.

Can contributions be submitted in advance of work?

No, contributions are based on covered work performed.  Until the covered work is performed, the contributions are not due and will therefore not be accepted.

Who is the Plan Administrator of the Vacation Fund?

The Vacation Fund is administered jointly by a 4-person Board of Trustees made up of an equal number of Union and Employer appointees. The Trustees are not compensated for the performance of their duties and have the full power and authority to administer the Plan, construe the terms and provisions and to establish all Plan rules and regulations. The Trustees employ an Executive Director to perform all day to day administrative functions of the Plan, including employment of staff.

When are contributions due and are there penalties for late contributions?

The due dates for contributions are determined by the CBA and/or the supplemental Trust Acceptance Document (TAD). Generally contributions are made  on a monthly or weekly basis.  Contributions must be timely made to the Fund after the work period as described in the CBA/TAD or by the default dates indicated in the guidebook if no due date has been specified.  An explanation of these due dates may be found in the Employer Contributions & Collections Guidebook.

 There are penalties for late or underpaid contributions.  The Guidebook has a full explanation of how delinquencies (late payments and/or shortages) are determined, including how interest is charged

When was the Vacation Fund established?

The IATSE National Vacation Fund was initially established on October 23, 1973.


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