Summary Plan Description
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.
Related Individual Account Pension Plan Content
Life Events
See All the Plan Rules and Forms Related to Events in Your Life