How is my account invested?

Click here for the most recent information on the Carpenters Individual Account Pension Trust and the Carpenters Retirement Trust asset allocation and performance.

Can I take a loan or hardship withdrawal from my account?

There is no provision in the plan for loans or hardship withdrawals.

What are 401(k) elective contributions?

The Carpenters of Western Washington Individual Account Pension Plan will be converted from a money purchase pension plan to a 401(k) profit-sharing plan effective January 1, 2014. As part of this change, participants will be able to have 401(k) elective contributions made to the plan on their behalf. Qualifying participants can elect to have $1.00, $2.00, $3.00, or $4.00 per hour deducted from their paychecks. Deductions are made before income taxes, but are subject to Social Security payroll taxes (FICA) and federal unemployment taxes (FUTA).