Introduction

The Carpenters Individual Account Pension Plan is a “defined contribution plan” which means your benefit is based on the amount in your account when you retire. Your account balance is determined by five major factors:

• The number of hours you work each year for a contributing employer.
• The hourly contribution rate during each year of covered service.
• The 401(a) supplemental contributions made each year of covered service.
• The number of years you work for signatory employers under this plan.
• The investment performance of this plan.

The examples below illustrate two of these factors.