Retirement > FAQs

FAQs

  1. How is my account invested?

    The assets of the Carpenters Retirement Trust and the Carpenters Individual Account Pension Trust are invested together in a combined Trust which was valued at just over $1.4 billion as of December 31, 2010. The Carpenters Retirement Plan accounts for approximately $1.05 billion of the total and the Carpenters Individual Account Plan accounts for approximately $377 million. The chart below outlines the present asset allocation for the Trust as of December 31, 2010.
    Asset Category % of Assets
    Bonds
    26%
    Commercial Mortgages
    11%
    Real Estate Equity
    11%
    International Stocks
    12%
    Domestic Small Cap Stocks
    8%
    Domestic Large and Mid-Cap Stocks
    21%
    Private Equity
    6%
    Absolute Return
    5%
    Cash and short term bonds
    0%
    Total 100%

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  2. Can I take a loan or hardship withdrawal from my account?

    There is no provision in the plan for loans or hardship withdrawals. Is this a tax code issue, too?

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  3. What are 401(a) supplemental contributions?

    The plan was amended July 1, 2000 to allow for 401(a) supplemental contributions. When you work for a contributing employer under this plan you agree to work under one of four employment classifications - Class 0 ($0 per hour), Class I ($1 per hour), Class II ($2 per hour), and Class III ($3 per hour). The employment classifications are based on the type of work you perform in the building and construction industry and your experience and seniority within that industry. If you qualify and work under classifications I, II or III, you agree to work for a lower hourly wage in exchange for higher employer contributions to the plan. All employment classifications receive the $.60 per hour called for under the Master Agreement.

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