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June 29, 2017
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About your vacation funds

All vacation funds are transfered by our third party administrator, Welfare & Pension Administration to QualStar Credit Union (800-848-0018). The monthly "over-the-counter dues and assessments will be collected from QualStar for those members who have granted authorization to Local 528.

 

All members of Local 528 have an hourly "Vacation Fund" deduction from their net pay.  This is a mandatory deduction, approved by the membership.  Your employer sends the Vacation deduction, along with your other benefits contributions, to Welfare and Pension Administration Service (WPAS) once each month.  WPAS, in turn, forwards these funds for deposit into each member's individual account at the custodial bank. This transfer takes place once each month, generally during the last week of the month. 

Local 528 has selected QUALSTAR Credit Union as the custodial bank for your Vacation funds.  To establish an account,  a valid photo i.d. and a valid Social Security number are required.  Photocopies of your i.d. and Social Security card are sent to QUALSTAR, along with the necessary application form.  QUALSTAR  Credit Union must verify the identification provided.  If the identification cannot be verified, an account cannot be opened.  QUALSTAR  will attempt to contact anyone who has provided unverifiable identification.   

Once your account is opened, the Credit Union will notify you of your account information.  For your convenience, QUALSTAR  is a member of shared branching which allows you to access your account at a variety of credit unions across the State and Country.

 An example of the reporting process is as follows:

Hours worked in January are due to WPAS by mid-February.  WPAS must deposit your vacation funds into your vacation fund bank account by the first business day of March.  If a contractor misses the deadline set by WPAS, however, your vacation funds will not be deposited until the next scheduled transfer, which adds one more month to the above timeline.  Vacation Funds deducted from your paycheck cannot be accessed until they are deposited into QUALSTAR

You can contact QUALSTAR  Credit Union at (800) 848-0018 or www.qualstarcu.com

 





Page Last Updated: Mar 21, 2017 (06:43:33)
 
 
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