Statement of Purpose

Dear Participant and Family:

The Carpenters of Western Washington Individual Account Pension Plan became effective June 1, 1981 and is one of two retirement plans provided as part of your negotiated fringe benefit package. The Carpenters Individual Account Pension Plan is designed to provide you and your spouse (or other designated beneficiary) with a retirement benefit when you retire. It is also designed to provide you and your spouse (or other designated beneficiary) with a benefit in the event of disability or death prior to your retirement. The plan was established and is administered by a Board of Trustees. An equal number of employee and employer members are elected to the Board by their organizations in Western Washington. The operation of the plan is governed by an agreement and declaration of trust. It provides that all funds must be used to provide pensions and related benefits to eligible participants and their dependents, and for operating expenses and administrative costs.

This booklet is divided into two sections. The first section is the summary plan description (SPD) and provides a summary of plan benefits and provisions. The second section is the plan document and contains the legal provisions governing the plan. As you read the summary plan description you will find cross-references to the corresponding sections in the plan document. If any discrepancy exits between these two sections, the terms of the plan document govern.

We encourage you to read this booklet carefully. If you have any questions or concerns about this booklet or about the plan in general, please contact the Retirement Department at the Trust Office.

Board of Trustees
Carpenters of Western Washington
Individual Account Pension Trust