Summary Plan Description
Money follows the carpenter is a special provision under the International Reciprocity Agreement that allows you to have hours and contributions transferred to your home trust—the Carpenters Health and Security Plan of Western Washington—when you temporarily work under a reciprocal plan. Money follows the carpenter allows you to accumulate contributions under your home trust. You must be a member of a Local Union in the jurisdiction covered by this plan for this trust to be your home trust. All contributions made by an "away trust" accumulate in your dollar bank account to provide eligibility as described in Eligible Participants.
To take advantage of money follows the carpenter, please contact Participant Services at the Trust Office or your Local Union each time you work under a reciprocal plan. The Trust Office or your Local Union will send you an Authorization to Transfer Fringe Benefits form. This form must be completed as soon as possible but no later than 60 days from the onset of employment in the other jurisdiction. Contributions cannot be transferred retroactively. Money follows the carpenter also requires the home trust and the reciprocal trust to accept or transfer all retirement contributions (except 401(a) supplemental contributions to the Carpenters of Western Washington Individual Account Pension Plan), if required by the agreement. Vacation contributions are not transferred.
To take advantage of "money follows the carpenter," you must contact the Trust Office or your Local Union within 60 days of the onset of employment under a reciprocal plan. If you do not establish a home trust to which all contributions are sent, your health and security benefits may be processed under two separate plans. You must be a member of a Local Union in the jurisdiction covered by this plan for this trust to be your home trust.
Related Health & Security Content
See All the Plan Rules and Forms Related to Events in Your Life