Summary Plan Description

Credited Service

If you worked or work in Western or Central Washington on or after June 1, 1981, under a collective bargaining agreement under which contributions are made to the plan, you are entitled to credited service based on the schedule below:

Credited Service Hours of Service in One Calendar Year
1 year 1,000 or more
¾ year at least 750
½ year at least 500
0 year less than 500

You are also entitled to credited service based on the schedule above if you work outside Western and Central Washington but your hours and contributions are transferred to Carpenters Trusts of Western Washington under Money Follows the Carpenter (please see "Money Follows the Carpenter" on page 9).

Key Point

Credited service is important because it determines your vesting status in contributions to your regular subaccount (before January 1, 2014) and your employer contribution subaccount (beginning January 1, 2014) that are made to this plan. Your vested status is important because you must vest in these subaccounts within a certain period of time or risk forfeiting employer contributions to these subaccounts. Please see "Vesting" on pages 8-9 for additional information. You are always fully vested in your supplemental contribution and 401(k) elective contribution subaccounts. Your rollovers into the plan are fully vested beginning with your initial contribution.

  • For additional information about credited service, please see Article 1.9 on page 58.

Key Point

The following employment categories may require employer contributions to the Carpenters Health and Security Plan of Western Washington but may not require employer contributions to the Carpenters of Western Washington Individual Account Pension Plan:

  • Participants working under a residential bargaining agreement.
  • Participants who are in the first six months of the apprenticeship program (first-period apprentices).
  • Participants who are in the first twelve months of the drywall utility program.

If you work in one of these employment categories, you will earn credited service toward vesting even though no contributions were made to the Carpenters Individual Account Pension Plan on your behalf. If you work in one of these employment categories you may be eligible to make 401(k) elective contributions to the plan (please see "401(k) Annual Election" on page 21).