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Local 701 funds now payable online

April 22, 2016
The Automobile Mechanics Local 701 Benefit Fund Office this month introduced electronic reporting and payment of benefit fund contributions. The use of electronic reporting is voluntary, so dealers are encouraged, but not required, to use the process.
For dealers who also contribute to the Teamsters Local 731 benefit funds, that union reportedly is using the same vendor that 701 uses for electronic reporting and payment. When it is implemented, the two systems should be similar.
Local 701’s new remittance system, called ISSi-Remit, eliminates duplicate entry of remittance data and saves time and money for both dealers and the union benefit fund operators. It also allows for a single point of payment for multiple union entities: Pension Fund, Welfare Fund, HRA Fund, and Defined Contribution 401(k) Fund.
For more on the new system, call Local 701’s office at (708) 482-0110.
 

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