Retirement / Pension Types

Overview

There are five Pension types available when you retire from the Pension Fund: Regular, Service, Early, Disability, and Reciprocal. All five Pension types have their own vesting rules and service and or age requirements.

Service Pension

A Service Pension is available at any age with at least 30 Northern California Eligibility Credits (excluding any Eligibility Credits lost due to a Permanent Break in Service) upon separation from employment.

If you have performed work in Non-Covered Employment for an employer that does not contribute to this Plan, Service Pension benefits accrued after July 1, 1991, will be delayed six months for every calendar quarter in which you worked in such Non-Covered Employment.

Note: A Service Pension is not available if you previously received an Early Retirement Pension under the Plan.  In order to receive pension benefits, you MUST refrain from Prohibited Employment, and you must make application for your pension.

The monthly amount of a Service Pension will be the same as the unreduced accrued benefit payable at Normal Retirement Age (typically age 65). The payment form you select, deductions and withholding, community property claims, and any court ordered reductions may also reduce your benefit amount.

Normal / Regular Pension

A Normal Pension is available at age 65, with at least 5 years of Vesting Credit or Eligibility Credit (without a Permanent Break in Service); or on the fifth anniversary of your participation, if later than age 65.

A Regular Pension is available at age 62, with at least 10 years of Vesting Credit or Eligibility Credit (without a Permanent Break in Service) upon separation from employment.

In order to receive pension benefits, you MUST refrain from Prohibited Employment, and you must make application for your pension.

The monthly amount of a Normal or Regular Pension will be the same as the unreduced accrued benefit payable at Normal Retirement Age. The payment form you select, deductions and withholding, community property claims, and any court ordered reductions may also reduce your benefit amount.

Early Retirement Pension

An Early Retirement Pension is available after age 55, with at least 10 years of Eligibility Credit (excluding any Eligibility Credit lost due to a Permanent Break in Service) upon separation from employment.  This Pension is reduced ½ of 1% for each month you are younger than 62.

You may Retire on a reduced Early Pension when you satisfy the following requirements:

  • You are at least age 55 and have at least 10 full Eligibility Credits (excluding any Eligibility Credit lost due to a Permanent Break in Service).
  • If you have performed work in Non-Covered Employment for an employer that does not contribute to this Plan, your Early Retirement Pension will be delayed 6 months for each calendar quarter in which you worked in Non-Covered Employment.
  • Your Early Retirement Pension amount will equal your Regular Pension amount reduced by ½ of 1% for each month that you are younger than age 62 on the effective date of your Early Retirement Pension. This reduction takes into account that you are younger than age 62 when your pension begins and, therefore, you will be receiving a pension for a longer period of time. The payment form you select, deductions and withholding, community property claims, and any court ordered reductions may also reduce your benefit amount.

Reciprocal Pro-Rata Pension

A Reciprocal Pension (or “pro-rata” pension) is available if you would be eligible for a Regular, Early Retirement, or Disability Pension with your credit earned under a Related Plan treated as Northern California Credit.

To earn a Reciprocal Service Pension, only related credits earned under specific Related Plans are recognized.

You may be eligible for a Reciprocal Pension if you would not otherwise qualify for a pension, or if your pension would be less than the full amount, because your years of employment have been divided between the jurisdiction of this Pension Plan and other related Pension Plans which have reciprocal agreements with this Fund.

You may be entitled to a Reciprocal Pension, if you satisfy the following requirements:

  • You would be eligible for a Regular, Early Retirement or Disability Pension under this Plan if your pension credits earned under Related Plans are treated as either Northern California Unit Value Benefit Credit and/or Percentage of Contribution Benefit Credit; or
  • You would be eligible for a Service Pension under this Plan if your pension credits earned under Related Plans are treated as either Northern California Unit Value Benefit Credit and/or Percentage of Contribution Benefit Credit. For this purpose, only related credits earned under the following plans are recognized:
    • Mill Cabinet Pension Fund for Northern California
    • Industrial Carpenters Pension Plan
    • Marine Carpenters Pension Plan
    • Carpenters International Staff Pension Plan
    • Lathers Local 9083 Defined Benefit Pension Plan
    • Lathers Local 109 Defined Benefit Pension Plan
    • Lathers Local 144 Defined Benefit Pension Plan
    • Southern California Carpenters Pension Plan
    • Other Related Plans as specifically determined by the Trustees which cover Employees under the terms of a Collective Bargaining Agreement and/or Memorandum of Understanding negotiated by the Carpenters 46 Northern California Counties Conference Board and/or any of its affiliates; and
  • Since January 1, 1955, you have at least one full Northern California Eligibility Credit and one full Related Eligibility Credit under each of the Related Plans whose Related Eligibility Credit is needed to qualify you for a Reciprocal Pension or after your Contribution Date, you have at least 2 full Northern California Eligibility Credits, Related Eligibility Credits or Combined Reciprocal Eligibility Credits;
  • If you are applying for a Disability Pension under this Plan, you are deemed to be sufficiently disabled so as to meet the disability criterion for a Disability Pension in each of the Related Plans whose Reciprocal Pension Credit is needed to qualify you for a Reciprocal Disability Pension; and
  • If age is a requirement for the type of pension for which you are applying, you meet the minimum age requirement for a pension (not necessarily the same type of pension) under each of the Related Plans whose Related Pension Credit is needed to qualify you for a Reciprocal Pension.

Related Eligibility Credit is Eligibility Credit earned under the terms of a Related Plan (i.e., it is based on the Plan Year and hours rules of the Related Plan). If the Related Plan uses a different basis than the Northern California Carpenters Plan, Related Hours reported by the Related Plan will be used to convert Related Eligibility Credit on the same basis used by the Northern California Plan to determine Eligibility Credit. The sum of Related Eligibility Credit and Northern California Eligibility Credit is called “Combined Reciprocal Eligibility Credit.” It excludes any Eligibility Credit based on Continuous Non-Covered Employment.

The monthly amount of a Reciprocal Pension is determined in the same way as a Regular, Early Retirement, Service Pension or Disability Pension (whichever is applicable) is determined, but based only on the Credits you earned under this Plan and without regard to any Related Pension Credits.

If you are applying for a Reciprocal Service Pension, please refer to the specific list of “Related Plans” in the Summary Plan Description that may be used in determining your “Combined Reciprocal Eligibility Credit.”

Disability Pension

A Disability Pension is available to you if you are younger than age 62, with 10 years of Eligibility Credit (excluding any Eligibility Credit lost due to a Permanent Break in Service), have been awarded a permanent disability award by the Social Security Administration, and have earned at least three-twelfths of Eligibility Credit in the 5 consecutive Calendar Years prior to the Calendar Year you became permanently and Totally Disabled.  Carry-over of excess hours will not be used to satisfy this “work test.”

If after working in Non-Covered Employment for an employer that does not contribute to this Plan, you have not returned to Covered Employment for an appropriate period as required by the Plan, you will not be eligible to retire on a Disability Pension.

“Totally Disabled” means that you are totally disabled from work of any kind and you are receiving a Social Security Disability Benefit or otherwise meet the Social Security Administration’s rules for determining total disability.

The monthly amount of your Disability Pension would be equal to the monthly amount of your Regular Pension.  There is no reduction because of age as in the case of an Early Retirement Pension, but there may be a reduction depending on the payment form that you select, deductions and withholding, community property claims, and any court ordered deductions may also reduce your benefit amount.

Disability Pension benefits begin after you have been determined to be Totally Disabled by the Social Security Administrations and have been disabled for six full months and continue as long as you are entitled for Social Security Disability Benefits.

Note: Due to the time that it may take the Social Security Administration to make its determination that you are Totally Disabled, the first payment of your Social Security Disability Benefit may cover a retroactive period. In a similar manner, the first payment of your Disability Pension from the Fund may include a lump sum amount to cover the period dating back to your seventh month of disability.  Any retroactive payment that you receive from the Fund will be offset by any Weekly Supplemental Disability Benefits previously paid to you under the Carpenters Health and Welfare Trust Fund for California.

To avoid delays in the start of your Disability Pension, please submit a copy of your Award Letter from the Social Security Administration within 90 days of the issue date.

Once you reach age 62, your Disability Pension will continue for your lifetime (provided you remain retired) even if you recover from your disability.

If your claim for Social Security Disability is denied, at the sole discretion of the Board of Trustees, an independent medical examination may be ordered. The Board, at its sole discretion, may grant a disability pension based on the results of the independent medical examination. The Board reserves the right to request subsequent examinations to verify continuing disability.  Before such an independent examination is requested by the Board you must file an appeal.

If you retire with an Early Retirement Pension and you were already Totally Disabled at the time your Early Retirement Pension started or if you are a Service Pensioner and you were already Totally Disabled at the time your Service Pension started, you may receive a Disability Pension, if you choose. However, if the Pension Effective Date for the Disability Pension is later than the Early Retirement Pension, the accumulated difference must be paid back to the Fund. If the Disability Pension is being paid as a Single Life Pension, the Guarantee Period converts from 60 to 36 months. For more information, contact the Fund Office.

If you lose entitlement to your Social Security Disability Benefit before attaining age 62 or you recover from your disability, you must report that fact in writing to the Fund Office within 15 days after receiving notice from the Social Security Administration. Generally, your Disability Pension from this Plan will stop at that time. However, you may be able to keep your Disability Pension from this Plan by providing proof that your disability still exists. For this purpose, the Board of Trustees will designate a physician who will perform a medical examination. The results of the medical examination will be given to the Board of Trustees for review and a determination as to the continuation of your Total Disability. If you fail to give notice, you will be required to repay any benefits paid to you to which you were not entitled.  If you recover from your disability and go back to work in Covered Employment, you may earn either additional Unit Value Benefit Credit or Percentage of Contribution Benefit Credit, and Eligibility Credits. If you are otherwise eligible for an Early or Service Pension you will be entitled to convert should you so elect.

Pension Application

Summary Plan Description

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