Carpenters Retirement Plan

Traditional Income Benefits 

Traditional income benefits refer to benefits earned under this plan from January 1, 1960 through December 31, 2016. With traditional income benefits, your monthly benefit is calculated by multiplying the employer contributions earned each calendar year by the appropriate benefit factor. The benefits you accrue each year are added together to provide your total traditional income benefit. This amount may be reduced for early retirement and a joint and survivor benefit but otherwise does not change once the benefit is accrued.

  • For additional information about traditional income benefits, please see Article 6.1.2.


If you accrued a monthly benefit of $100 for each year of work from 1997–2016, your total traditional income benefit would be $2,000.

20 years x $100/year = $2,000

The annual benefit earned each year varies depending on the number of hours you work, the hourly contribution rate and the benefit factor, as discussed above.

Last Updated: 01/09/2018