Summary Plan Description (Revised January 1, 2012)

Disability Retirement

Eligibility and Retirement Date

To be eligible for disability retirement you must be:

  • Under age 65;
  • Meet the definition of retired;
  • Vested under the ten-year vesting rule (please see Ten-Year Vesting);
  • Satisfy the activity test (at least 750 hours of service in this plan or in combination with a reciprocal plan during the three calendar years immediately preceding the date of your disability);
  • Totally and permanently disabled by bodily injury or disease as defined by this plan (please see the definition of totally and permanently disabled). Your disability cannot be the result of an intentional self-inflicted injury or the habitual use of drugs or alcohol; and
  • Your injury or disease must render you incapable of performing any and every duty pertinent to your occupation as a carpenter. After receiving benefits for 24 months, you must be incapable of working in any gainful occupation for which you are fitted by training, experience and abilities in order to continue receiving disability benefits. Periodic proof of continued disability is also required.

With disability retirement, your retirement date is the later of (1) the first of the month following a six-month waiting period, or (2) the first of the month following receipt of your Application For Retirement Benefits and Election of Retirement Benefits form (you do not receive payment before the first day of the seventh month of disability). The six-month delay is known as the "disability waiting period" and may be waived by the Board of Trustees under certain circumstances. Your application must be accompanied by the Disability Retirement Questionnaire.

  • For additional information about disability retirement eligibility, please see Article 4.3 and Article 7.
Monthly Benefit

The amount available at disability retirement is your total monthly benefit less the appropriate reduction for disability retirement. Disability reduction factors are listed in Table 6. Your disability benefit is a single life benefit with guaranteed monthly payments for five years (60 payments). The following example illustrates how to calculate a disability retirement income. 

Key Point

If you become disabled when you are age 55 or older, regular, special early or rule of 80 early retirement may provide a higher monthly benefit than disability retirement. Please contact Retirement Services at Carpenters Trusts for assistance. 

Calculations

You become disabled at age 45 with a total monthly benefit of $800.00:

Total Monthly Benefit x Disability Retirement Factor = Monthly Income
$800.00 x .7000 (70.00%) = $560.00

In this example, your $800.00 total monthly benefit is reduced by $240.00 to provide a monthly disability income.

When you reach age 65, your monthly benefit is recalculated to reflect what would have been your total monthly benefit if you had not taken disability retirement. Normal retirement payment options are available at that time and no further proof of disability is required.

If you elect disability retirement and die before age 65, your surviving spouse receives any of the outstanding guaranteed monthly payments. If you die between the ages of 55 and 65 and all guaranteed monthly payments have been made, your spouse receives the survivor's portion of a 50% joint and survivor benefit beginning the month following your death (please see Qualified Spouse's Benefit). If you die before age 55 and all guaranteed monthly payments have been made, your spouse receives the survivor's portion of a 50% joint and survivor benefit beginning the month you would have attained age 55 had you lived. This benefit is payable for your spouse's lifetime.

Retirement benefits are taxable income. Retirement Services will automatically provide you with a Form 1099-R in late January of each year for the upcoming April 15 tax deadline.

  • For additional information about the monthly benefit available under disability retirement, please see Article 6.3
Table 6
Disability Retirement Reduction Factors

To qualify for disability retirement, you must satisfy the disability retirement requirement listed on page 39.

If you qualify for disability retirement, select the age closest to your age on your retirement effective date. Then multiply your monthly benefit by the corresponding reduction factor.

Age Factor
64 - 11 99.75%
64 - 10 99.50
64 - 9   99.25
64 - 8   99.00
64 - 7   98.75
64 - 6   98.50
64 - 5   98.25
64 - 4   98.00
64 - 3   97.75
64 - 2   97.50
64 - 1   97.25
64 - 0   97.00
63 - 11 96.75
63 - 10 96.50
63 - 9   96.25
63 - 8   96.00
63 - 7   95.75
63 - 6   95.50
63 - 5   95.25
63 - 4   95.00
63 - 3   94.75
63 - 2   94.50
63 - 1   94.25
63 - 0   94.00
62 - 11 93.75
62 - 10 93.50
62 - 9   93.25
62 - 8   93.00
62 - 7   92.75
62 - 6   92.50
62 - 5   92.25
62 - 4   92.00
62 - 3   91.75
62 - 2   91.50
62 - 1   91.25
62 - 0   91.00
61 - 11 90.75
61 - 10 90.50
61 - 9   90.25
61 - 8   90.00
61 - 7   89.75
61 - 6   89.50
61 - 5   89.25
61 - 4   89.00
61 - 3   88.75
61 - 2   88.50
61 - 1   88.25
61 - 0   88.00
60 - 11 87.75
60 - 10 87.50
60 - 9   87.25
60 - 8   87.00
60 - 7   86.75
60 - 6   86.50
60 - 5   86.25
60 - 4   86.00
60 - 3   85.75
60 - 2   85.50
60 - 1   85.25
60 - 0   85.00
59 - 11 84.75
59 - 10 84.50
59 - 9   84.25
59 - 8   84.00
59 - 7   83.75
59 - 6   83.50
59 - 5   83.25
59 - 4   83.00
59 - 3   82.75
59 - 2   82.50
59 - 1   82.25
59 - 0   82.00 
58 - 11 81.75
58 - 10 81.50
58 - 9   81.25
58 - 8   81.00
58 - 7   80.75
58 - 6   80.50
58 - 5   80.25
58 - 4   80.00
58 - 3   79.75
58 - 2   79.50
58 - 1   79.25
58 - 0   79.00
57 - 11 78.75
57 - 10 78.50
57 - 9   78.25
57 - 8   78.00
57 - 7   77.75
57 - 6   77.50
57 - 5   77.25
57 - 4   77.00
57 - 3   76.75 
57 - 2   76.50
57 - 1   76.25
57 - 0   76.00
56 - 11 75.75
56 - 10 75.50
56 - 9   75.25
56 - 8   75.00
56 - 7   74.75
56 - 6   74.50
56 - 5   74.25
56 - 4   74.00
56 - 3   73.75
56 - 2   73.50
56 - 1   73.25
56 - 0   73.00
55 - 11 72.75
55 - 10 72.50
55 - 9   72.25
55 - 8   72.00 
55 - 7   71.75
55 - 6   71.50
55 - 5   71.25 
55 - 4   71.00
55 - 3   70.75
55 - 2   70.50
55 - 1   70.25
55 - 0   70.00