Money
Follows the Carpenter
Money follows
the carpenter is a special provision under the International Reciprocity
Agreement that allows you to have hours and contributions transferred to your
home trust – the Carpenters Retirement Plan of Western Washington –
when you temporarily work under a reciprocal plan. Money follows the carpenter
allows you to accumulate contributions under your home trust.
To take
advantage of money follows the carpenter, please contact the Retirement
Department at the Trust Office or your Local Union each time you work under a
reciprocal plan. The Trust Office or your Local Union will send you an
Authorization to Transfer Fringe Benefits form. This form must be completed as
soon as possible but no later than 60 days from the onset of employment in the
other jurisdiction. Contributions cannot be transferred retroactively. Money
follows the carpenter also requires the home trust and the reciprocal trust to
accept or transfer both retirement contributions and health and security
contributions. Several other restrictions also apply (please see
Money-Follows-the-Man
Pension).
For
additional information about money follows the carpenter, please see Article
5.3.
|
|
|
