Northwest Carpenters Retirement Plan

Plan Document 

Restated as of July 1, 2022, as Amended by Amendment 1 (reflecting Plan Terms in Effect January 1, 2023)

The Plan Document was restated by the Board of Trustees as of July 1, 2022, and amended as of January 1, 2023. Click to review the previous Plan Document.

WHEREAS, with the passage of the Employee Retirement Income Security Act of 1974 (ERISA) and the adoption of final regulations implementing the Act by the Internal Revenue Service and the Department of Labor, it became necessary to amend the Retirement Plan to conform to the Act and regulations promulgated thereunder, effective as of the Plan Year beginning January 1, 1976; and

WHEREAS, the Plan was restated effective January 1, 1986, January 1, 1988, January 1, 1990, January 1, 1994, January 1, 2001, November 1, 2003, November 1, 2009, July 1, 2014 and January 1, 2017 to include amendments to the Retirement Plan; and

WHEREAS, the Oregon-Washington Carpenters-Employers Pension Plan merged with and into this Plan effective 11:59 p.m. on June 30, 2021, and as a result of such merger, the Board has redesignated the Plan as the "Northwest Carpenters Retirement Plan; and

WHEREAS it is now desirable and necessary to further amend and restate the Plan to reflect amendments adopted at an December 7, 2021 meeting of the Board of Trustees implementing a new benefit accrual structure effective as of January 1, 2022, which shall apply for all Employees (inclusive of Legacy OWCEPP Participants) from that date forward, except as indicated, and at the March 29, 2022 meeting of the Board of Trustees;

NOW, THEREFORE, the Trustees do hereby adopt the following Northwest Carpenters Retirement Plan, restated and amended as of January 1, 2022.

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Last Updated: 04/20/2023