Northwest Carpenters Individual Account Pension Plan

Participant-directed Investments 

Effective July 1, 2021, the Northwest Carpenters Individual Account Pension Plan provides for participant-directed investment. That means you will use the plan's investment options to create your own portfolio that fits your personal retirement investment strategy and risk tolerance.

With participant-directed investments, you can direct the investment of all you plan contribution subaccounts in any of the plan's investment choices. The current investment options are provided below.

If you do not make an election as to how your accounts should be invested, the Board of Trustees have designated a "default" investment option. In accordance with Department of Labor regulations, the plan's default investment option is intended to qualify as an ERISA 404(c) "qualified default investment alternative" or QDIA which relieves the plan fiduciaries of liability for any investment losses that result from investment directions made by plan participants. Initially, your contributions are transferred to the plan's QDIA, the BNYM Newton Smart Path Target Date Fund based on your date of birth (or if your date of birth is not known, to the most conservative fund until your age is provided to Milliman). Once you register on MillimanBenefits.com, you can make changes to your investments at any time.

Fund Category Fund Name Ticker
Stable Value Invesco Stable Value Trust – Class A1 N/A
Intermediate Core Bond Vanguard Total Bond Market Index Adm VBTLX
Intermediate Core Bond JP Morgan Core Bond R6 JCBUX
Large Blend Vanguard 500 Index Admiral VFIAX
Large Blend Aristotle Value Equity N/A
Mid-Cap Blend Vanguard Extended Market Index Admiral VEXAX
Small Blend William Blair Small-Mid Cap Core R6 WBCRX
Foreign Large Blend Vanguard Total Intl Stock Index Admiral VTIAX
Foreign Large Growth William Blair International Ldrs R6 WILJX
Target Date BNYM Newton SL SmartPath Retirement Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2015 Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2020 Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2025 Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2030 Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2035 Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2040 Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2045 Fund N/A
Target Date BNYM Newton SL SmartPath Target Date 2050 N/A
Target Date BNYM Newton SL SmartPath Target Date 2055 N/A
Target Date BNYM Newton SL SmartPath Target Date 2060 N/A

There are investment fees associated with each of the investment options in the table above. These are expenses that reduce the rate of return of the investment options. The actual fees are provided in the Fee Disclosure Notice provided to you when you first began participating in participant-directed investments and annually thereafter. This notice is also available at MillimanBenefits.com.

Prior to July 1, 2021, plan assets were invested in a group investment trust which combined assets from the Carpenters Retirement Plan of Western Washington and the Carpenters of Western Washington Individual Account Pension Plan. These assets were invested by the Board of Trustees with the assistance of a professional investment consultant in a diversified portfolio of investments.

For additional information about plan valuation of accounts, please see Article 6.2.

Last Updated: 04/25/2023