Summary Plan Description (Revised January 1, 2018)

Credited 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 are required to the plan, or if you work or worked in other geographic areas but had contributions sent to this plan under money follows the carpenter, you are entitled to credited service based on the schedule below:

Hours of Service In A Calendar Year Credited Service
1,000 or more hours 1.00 credit
750–999 hours .75 credit
500–749 hours .50 credit

Credited service is important because it determines your vesting status with this plan (please see "Vesting") and eligibility for rule of 80 early retirement (please see "Rule of 80 Early Retirement"). Vesting is important because you must vest in this plan within a certain period of time or risk forfeiting credited service and any corresponding contributions (please see "Breaks In Service and Termination").

Each year you work under this plan counts toward your total monthly benefit based on the number of hours you worked, the hourly contribution rate, the benefit factor for that year of service and, for sustainable income benefits, the investment performance of the plan.

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