Summary Plan Description

The Summary Plan Description is a user-friendly guide to the Carpenters Individual Account Pension Plan, including the 401(k) subaccount. Use the links below for detailed information about the terms and provisions of the plan. As always, contact Retirement Services at Carpenters Trusts if you have any questions.

Statement of Purpose What is the Carpenters Individual Account Pension Plan? Who is it for? What does it do? This section answers those questions and explains how the plan is governed and administered by the Board of Trustees.
Participation and Eligibility This section describes how you participate in this plan and how you become vested in this plan. It also describes breaks in service and how those breaks can be avoided or repaired.
Contributions and Investment Strategy Look here for information describing the way you and your employers contribute to the plan and how your total benefit is determined.
Retirement Options This section describes the qualifications for retirement under the Carpenters Individual Account Pension Plan and the income options available at retirement. It also describes how to apply for retirement benefits.
Death Benefits Before Retirement Here you can learn about benefits available to your spouse or other beneficiary if you die prior to retirement.
Important Information Federal laws, including the Employee Retirement Income Security Act of 1974 (ERISA), protect your rights under this plan. These laws are described in detail in this section.

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