Credited
Service
Each compensable
hour is accumulated as credited service. Credited service is the sum of your
credited past service and your credited future service. Credited past service
and credited future service are described below.
Credited Past
Service
If you worked as
a union carpenter in Western Washington prior to January 1, 1960, you may be
entitled to a maximum of ten years of credited past service. Each year of
credited past service adds $4.00 to your total monthly benefit (please see
Credited Past
Service).
For
additional information about credited past service, please see Article
1.9.
Credited Future Service
If you worked or
work as a union carpenter in Western Washington on or after January 1, 1960, you
are entitled to credited future service based on the schedule below. The
three-quarters years of credited service was added to the plan effective January
1, 1965:
|
Hours
Worked In A Calendar Year |
Credited
Future Service |
|
1,000
or more covered hours |
1.00
year of credited future service |
|
750-999
covered hours |
.75
year of credited future service |
|
500-749
covered hours |
.50
year of credited future service |
Each year of
credited future service adds a specific dollar amount to your total monthly
benefit based on the number of hours you worked, the hourly contribution rate
and the benefit factor for that year (please see Credited Future
Service).
For
additional information about credited future
service, please see Article
1.8.
|
|
|
