It is important that contributions are submitted to the NEAP in accordance with the Employees Benefit Agreement and Trust for the National Electrical Annuity Plan. Keep in mind, that all contributions are considered a debt due and owing to the NEAP. In the event an employer has failed or fails to make the required contributions, the employer shall be assessed interest and liquidated damages.
To ensure the timely and accurate processing of an employer’s monthly payroll reports, here are a few suggested prep-work steps:
- Attach all monthly payroll report or printouts to the MPR coversheet in numerical order.
- MPRs or printouts with multiple pages should be subtotaled.
- When possible, each job classification should be subtotaled.
Timely Submission of Contributions and Reports
The payment of contributions shall be made not later than fifteen (15) calendar days from the date on which the sum became a debt due and owing. All contributions shall be accompanied by a payroll report in such form as prescribed by the Fund. A contribution shall be considered delinquent if it is not paid by the Contribution Date.
If contributions are not received by the due date, the employer will receive a written notice of delinquency requesting immediate payment and informing the employer of the interest and liquidated damages due for the delinquency.