Summary Plan Description (Revised January 1, 2012)

Credited Service

Credited service is the sum of your credited past service and your credited future service as described below.

Credited Past Service

If you worked under a carpenter's collective bargaining agreement in Western or Central Washington prior to January 1, 1960, you may be entitled to a maximum of ten years of credited past service. Each year of credited past service adds $4.00 to your total monthly benefit.

  • For additional information about credited past service, please see Article 1.9.
Credited Future Service

If you worked or work in Western or Central Washington on or after January 1, 1960, under a collective bargaining agreement for which contributions to the plan are required, you are entitled to credited future service based on the schedule below: 

Hours of Service In A Calendar Year Credited Future Service
1,000 or more hours 1.00 year of credited future service
750-999 hours .75 year of credited future service
500-749 hours .50 year of credited future service 

Credited future service is used to determine your vesting status (please see Vesting) and eligibility for retirement.

Each year of credited future service adds a specific dollar amount to your total monthly benefit based on the number of hours you worked, the hourly contribution rate and the benefit factor for that year (please see Future Service). The three-quarters years of credited service was added to the plan effective January 1, 1965.

Key Point

Credited service is important because it determines your vesting status with this plan. Your vesting status with this plan is important because you must vest in this plan within a certain period of time or risk forfeiting credited service and any corresponding contributions and benefits. Please see Vesting for additional information. 

  • For additional information about credited future service, please see Article 1.8.

Key Point

The following employment categories require employer contributions to the Carpenters Health and Security Plan of Western Washington but do not require employer contributions to the Carpenters Retirement Plan of Western Washington:

  • Participants working under certain residential bargaining agreements.
  • Participants who are in the first six months of the apprenticeship program (first-period apprentices).
  • Participants who are in the first twelve months of the drywall utilityperson program.

If you work in one of these employment categories, you may earn credited service toward vesting even though no contributions are made to Carpenters Retirement Plan on your behalf.