Carpenters
Health and Security Plan – For Retired Carpenters
The Carpenters Health and
Security Plan of Western Washington – For Retired Carpenters (also
referred to as the “Retired Plan” or “plan”) is
available to retirees, spouses and dependent children if they satisfy the
eligibility requirements described below, enroll in the plan and make the
required monthly contribution to the plan. The eligibility rules are established
by the Board of Trustees in accordance with the Trust Agreement. The monthly
contribution rates are also established by the Board of Trustees and are
directly related to the overall cost of health care, the overall cost of the
Retired Plan, as well as each individual’s eligibility for Medicare Part A
and Part B. These monthly contribution rates have a service-based subsidy
related to the total number of hours contributed on the retiree’s behalf
to the Carpenters Health and Security Plan of Western Washington during his or
her career. The subsidized portion of the monthly contributions are based on
employer contributions paid on behalf of participants working under collective
bargaining agreements.
Eligible
Retirees
A retiree is eligible for the
Retired Plan if he or she:
- Receives
a monthly benefit from the Carpenters Retirement Plan of Western Washington or,
for retired lathers, from the Cement Masons and Plasterers Retirement Plan;
and
- Worked
at least 7,500 hours (for which employer contributions were received by the
Carpenters Health and Security Trust of Western Washington) during the 120
months immediately preceding his or her retirement effective date (as determined
by the Carpenters Retirement Plan of Western Washington). For disability
retirement or, if early retirement was taken because of a disability, the
retiree must have worked at least 7,500 hours in the 120 months immediately
preceding the date of disability. Reciprocal service hours or participation in
Self-Contribution Coverage or COBRA Continuation Coverage cannot be used to help
establish
eligibility.
Employer
contributions to the Carpenters Health and Security Trust of Western Washington
(as described in the second bullet above) can be used to satisfy the eligibility
requirements of this plan for retirees if pension contributions were not
required under a collective bargaining agreement.
If you qualify for the
Retired Plan, you will be notified at retirement or several months before you
exhaust your active eligibility under the Employed Plan, whichever is sooner.
Application requirements will be described to you at that time.
Surviving
Spouse
If an employed participant
dies, his or her surviving spouse and dependent children may elect to enroll in
the Retired Plan if they satisfy the two eligibility requirements described
below and make the required monthly contribution to the Trust
Office:
- The
surviving spouse and dependent children receive a monthly benefit from the
Carpenters Retirement Plan of Western Washington or, for the surviving spouse
and dependent children of a retired lather, from the Cement Masons and
Plasterers Retirement Plan. This requirement is waived if the surviving spouse
is receiving a preretirement death benefit under the Carpenters Retirement Plan
of Western Washington and remarries, thereby temporarily losing his or her right
to a monthly benefit.
- The
participant worked at least 7,500 hours (for which employer contributions were
received by the Carpenters Health and Security Trust of Western Washington)
during the 120 months immediately preceding his or her
death.
The
surviving spouse or dependent children must notify the Trust Office of the
participant’s death to ensure timely application for the Retired
Plan.
Notice
The benefits provided under
the Retired Plan are not guaranteed to continue indefinitely. The Board of
Trustees retains full and exclusive authority, in its discretion, to determine
the extent to which monies are available for this plan and to determine the
expenditure of such monies for the plan. The Board of Trustees, in its sole
discretion, has the right to amend the terms of the plan, including the
eligibility rules, or to reduce benefits, increase the monthly contribution
rates, or reduce or eliminate any plan subsidy. The Board of Trustees also has
authority to terminate the Retired Plan.
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