Issue link: https://pma.uberflip.com/i/116887
INDUSTRY BENEFITS Vacation Plan VACATION BENEFITS, TAXES & EXPENSES Payroll Year in which earned: 2008$69,105,471 2009$64,940,903 2010$ 69,938,020 2011$ 74,972,019 2012*$ 76,945,739 Payment is made at the straight time hourly rate prevailing on January 1 of the calendar year in which the vacation is paid.���Each week of vacation is paid at 40 times the registrant���s applicable straight time hourly rate or appropriate skilled straight time rate.���Vacation payments are made in early February. Includes vacation benefits, taxes and expenses. Vacation benefits are paid in the first full payroll week in February for vacations earned in the prior payroll year. *Estimated benefits. ANNUAL HOURS REQUIREMENTS FOR VACATION ELIGIBILITY Average Port Hours Under Age 60 1 wk 2 wks Age 60 and over 1 wk 2 wks 1,300 or more 800 1,300 700 1,200 1,200 - 1,299 700 1,200 600 1,100 1,100 - 1,199 676 1,100 600 1,100 1,000 - 1,099 615 1,000 600 1,000 900 - ������999 552 900 552 900 less than 900 552 800 552 800 The cost of benefits has grown A basic one-week or two-week vacation is paid according to the qualifying hours credited an eligible registrant in the previous payroll year.��� An individual who is registered and qualified on December 31 of the calendar year in which the vacation is earned receives a vacation with pay. A skilled rate applies when at least half of the qualifying hours are paid at a skilled rate.���The skilled rate payable is the highest skill rate at which accumulated skilled hours equal at least 25% of the qualifying hours for a basic one- or two-week vacation. Basic one-or two-week vacation eligibility requirements are based on the age of the registrant and the average hours of the individual���s registration port. ���Average port hours��� are calculated separately for longshore, clerk and foreman registrants and are the average hours paid in the ���port of registration��� during the payroll year, excluding those with fewer than 100 hours.��� Description of Year of Service for Vacation A Year of Service for vacation eligibility is a payroll year in which the registrant is credited with at least 800 combined hours paid and equivalenced hours of Pay Guarantee Plan payments. After registration, service in the Armed Forces of the United States is considered qualifying time. Service as a full-time Union official or as a joint employee of a Labor Relations Committee, Welfare Fund, Pension Fund, or of any joint entity of the ILWU and the PMA is considered qualifying time. Continuous absence due to workrelated injury for which an employee received Worker���s Compensation is considered qualifying time.���Temporary absence due to compensable temporary partial disability because of industrial illness or injury shall also be considered qualifying time. Extra Benefits for Clerks and Foremen Clerks and walking bosses/foremen receive additional hours of vacation pay, depending on the total hours paid to the individual in the previous payroll year. Clerks receive two additional hours for each 50 hours paid in excess of 2,024 in the previous payroll year, to more than $93,000 per registrant. OOCL containers are moved at Long Beach Container Terminal. 44 2012 ANNUAL REPORT