For Participants > Fund Information > Pension

The Carpenters Pension Plan for Northern California, established in June 1957, is a defined benefit pension plan. As a defined benefit plan, retirement payments are formula -based for Participants who meet certain criteria. These benefits are intended to supplement retirement benefits accrued under the Carpenters Annuity Trust Fund for the Northern California, which is a defined contribution plan.

The information provided by this website is presented in summary fashion. The Rules and Regulations of the Plan govern the administration of all benefits.

Only the full Board of Trustees:

  • is authorized to interpret the Plan Rules and Regulations;
  • has the authority to modify or change the rules of the Plan;
  • may give binding answers, and then only if you have furnished full and accurate information concerning your situation in writing;
  • shall be the sole judge of the standard of proof required in any case and the application and interpretation of this Plan;
  • shall render decisions final and binding on all parties, subject only to such judicial review as may be in harmony with federal labor policy.

No Employer or Union nor any representative of any Employer or Union is authorized to interpret the Plan on behalf of the Board -- nor can these persons act as an agent of the Board of Trustees. Benefits are paid in accordance with the Plan Rules and Regulations. All other documents, including the Summary Plan Description, are interpretations of the Plan Rules, and in the event of a discrepancy, the Plan Rules prevail.

There are several types of retirement benefits available for vested Participants of the Pension Plan. The Plan offers "unreduced" benefits for Normal, Regular, Disability, and Service retirements. Please refer to the Plan Rules and Regulations for more information regarding Pension Eligibility and Amounts.

Several payment forms are available, and vary depending on the type of pension being paid. The forms include a Husband-and-Wife Pension, a Single Life Pension with a Guarantee of Benefits, and a Level Income Option (available at Early Retirement Only).

A Participant earns credits based on the number of hours worked. Generally, Vesting Service determines whether a Participant is eligible for any benefits. Eligibility Credits determine which types of benefits are available. Benefit Credit determines how much the benefit is worth. For credit earned after January 1, 2007, Benefit Credit is based on a Percentage of Contribution formula. The value of pension payments for credits accrued before 2007 is based on Unit Value Benefit Credit (also referred to as "Pension Credit").

 If a person has a Break in Service before becoming Vested, their participation in the Plan is cancelled and their accrual of benefits stops. A Break in Service, whether temporary or permanent, may be repaired. No benefits are available to Participants who are not Vested.

The Plan allows Participants to transfer their Contributions under this plan to or from a Cooperating Fund, provided that certain conditions are met.

In the event of a Participant's death before retirement, death benefits may be available. In the event of a Retiree's death, death benefits may also be available to qualified Beneficiaries--assuming the Retiree had met certain eligibility requirements at the time of his or her death.

For Retirees considering work after retirement, please provide the Board of Trustees a detailed job description on the (potential) Employer's letterhead. The Board of Trustees will review the information and forward a determination to the Retiree in writing with regard to whether that specific employment is considered Prohibited Employment.

Beginning on or after July 1, 1991, if a Participant at any time performs Non-Covered Employment--that is, working in employment not covered by a Collective Bargaining Agreement in the Building and Construction Industry or self-employment which is not covered by a Collective Bargaining Agreement--the commencement of the Participant's Early Retirement Pension or Service Pension could be delayed. In addition, the Participant's right to a Disability Pension or Pre-Retirement Death Benefits could be eliminated entirely.

Retiree Health and Welfare benefits are available to eligible Retirees under the Carpenters Health and Welfare Trust Fund for California. More information regarding Retiree Health and Welfare benefits is available under the Health and Welfare section.

CFAO's Guide to Filing for Social Security, Understanding the Medicare System, and Employment after Retirement

Direct Deposit Election Form

Pension Application

Pension Summary Plan Description and Rules and Regulations

Request a Quarterly Statement

Retirement 101


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