Carpenters Individual Account Pension Plan
Article 3: Scope of the Plan
The Trustees may extend the benefits of this Plan to employees of other employer groups and other union locals.
The Trustees shall recognize as a Related Plan, any pension plan which has entered into a Reciprocity Agreement with the Carpenters Retirement Plan of Western Washington. Such recognition shall be under either (a) or (b).
- Pro Rata Reciprocity. Pro rata reciprocity will count for the purpose of allowing credit from each plan to apply to meet vesting requirements or to avoid a break in service or to satisfy eligibility requirements for Plan benefits, except when eligibility for a particular benefit under this Plan specifically requires service under this Plan.
- Money-Follows-the-Man Transfer. For hours worked on or after January 1, 1991, money-follows-the-man reciprocity will be provided for the purpose of transferring contributions to the home fund of the Participant to allow credit from the home fund for determining vesting requirements or to avoid a break in service or to satisfy eligibility requirements. In order to be eligible for a money-follows-the-man transfer, a Participant must file a request to transfer contributions in writing on a form approved by the Trustees within 60 days from commencement of employment under the Related Plan. For purposes of this Article the term "home fund" will have the same meaning as in the Reciprocity Agreement.
Last Updated: 01/29/2020