Northwest Carpenters Individual Account Pension Plan

Money Follows the Carpenter 

"Money Follows the Carpenter" is a special provision under the United Brotherhood of Carpenters and Joiners of America International Reciprocal Agreement for Carpenters Pension Funds that allows you to have hours and contributions transferred to your home trust – Northwest Carpenters Trusts – when you work under a reciprocal plan. Money follows the carpenter allows you to accumulate contributions in your home trust. You must be a member of a Local Union in the jurisdiction covered by this plan for this trust to be your home trust.

To take advantage of "Money Follows the Carpenter," please contact Participant Services at Northwest Carpenters Trusts each time you work under a reciprocal plan. Participant Services will send you an Authorization to Transfer Fringe Benefit Contributions 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 Related Plans).

401(k) elective contributions cannot be transferred or received under "Money Follows the Carpenter."

For additional information about "Money Follows the Carpenter," please see Article 3.2.

Last Updated: 04/25/2023