Plan Booklet Revision
April 4, 2023
The Northwest Carpenters Vacation Plan is a savings-type account for carpenters working for participating employers. Most collective bargaining agreements require employers to withhold $1.00 or $1.50 from your hourly wage for each compensable hour. These contributions are reported to Northwest Carpenters Trusts along with your other fringe benefit contributions and then transferred to your personal account at Qualstar Credit Union. Once your contributions are transferred to Qualstar, they are available to you at any time.
The following is a brief summary of the new plan booklet. If you have any questions about the new Northwest Carpenters Vacation Plan booklet or about the Vacation Plan in general, please contact Participant Services at Northwest Carpenters Trusts: (800) 552-0635.
This section of the plan booklet describes how you participate in this plan and how new participants enroll with Qualstar Credit Union. Contributions are generally received from your employer by the 15th of the month following the month you worked. These contributions are then transferred to Qualstar Credit Union on the first Wednesday following receipt by Northwest Carpenters Trusts. You can then access these contributions as soon as that evening or the following morning. This section also describes how to access your money at Qualstar Credit Union, income tax information on your interest earnings and how to designate a beneficiary.
This plan is regulated by the Employee Retirement Income Security Act of 1974 (ERISA). ERISA section 404 requires that plan fiduciaries administer the plan in accordance with the documents and instruments governing the plan. ERISA also requires that the plan fiduciaries provide benefits to all participants on the same basis, and that no participant is denied benefits that another participant under similar circumstances has been provided. ERISA also provides you with specific rights under this plan. These rights are described, in detail, in this section of the new plan booklet.