37970 carp pension

THE

SOUTHWEST

CARPENTERS

PENSION

PLAN

Summary Plan Description

January 1, 2022

BUILDING A BETTER FUTURE

carpenterssw.org/en carpenterssw.org/es bit.ly/MemberXG-CSAC

ENGLISH SPANISH MEMBERXG

THE SOUTHWEST CARPENTERS PENSION PLAN

sponsored by the

Southwest Carpenters Pension Trust

SUMMARY PLAN DESCRIPTION

January 1, 2022

******

ADMINISTRATIVE OFFICE

Carpenters Southwest Administrative Corporation

533 South Fremont Avenue

Los Angeles, CA 90071-1706

(213) 386-8590

(800) 293-1370

carpenterssw.org

info@carpenterssw.org

A Message from the Board of Trustees of the

Southwest Carpenters Pension Trust

To All Southwest Carpenters Pension Plan Participants and Beneficiaries:

This Summary Plan Description (the “SPD” or “Booklet”) summarizes the rules of the Southwest

Carpenters Pension Plan (the “Plan” or “Southwest Plan”) effective as of January 1, 2022 and

adopted by the Board of Trustees of the Southwest Carpenters Pension Trust (the “Trust”). The

Trust sponsors and funds the Plan.

The Trust was formed in 1959 and was originally known as the Carpenters Pension Trust for

Southern California. The Trust has grown to become one of the larger multiemployer trusts in the

United States, with Carpenters and Employers participating in the 12 Southern California counties,

Arizona, Colorado, Nevada, New Mexico, Utah, Wyoming, and certain western counties of Texas.

As the result of the expansion of the Trust’s jurisdiction, the Trust’s name is now the Southwest

Carpenters Pension Trust.

The Trust’s large size allows it to efficiently provide benefits at lower administrative cost

compared to smaller plans. The Trust is governed by a Board of Trustees (the “Board”) appointed

equally by the Carpenters Union and the signatory Employers. The Board has adopted a document

called the Southwest Carpenters Pension Plan (the "Plan Document"), which regulates how

Carpenters become eligible for Plan retirement and death benefits, and the different types of

retirement benefits (commonly called “Pensions”) that can be paid to eligible Participants under

the Plan. The Plan Document is amended by the Board from time to time, with changes taking

effect both retroactively and prospectively.

The principal purpose of the Southwest Carpenters Pension Plan is to provide retirement benefits

to members of bargaining units represented by local unions affiliated with the Southwest

Regional Council of the United Brotherhood of Carpenters and Joiners of America (the

“Carpenters Union”). The Plan also provides certain death benefits to surviving spouses or, in

some cases, other designated beneficiaries.

This Booklet is provided to help you understand how you earn retirement benefits and apply for

your Pension under the Plan. It is also intended to explain your rights and protections under the

law.

This Booklet explains the Plan as generally in effect on January 1, 2022. However, Pensions

commencing before that date, and the amount and timing of Pensions, can be affected by the

terms of the Plan in effect before January 1, 2022, including the terms of the pension plans that

have merged into the Southwest Carpenters Pension Trust before January 1, 2022. The following

plans have merged into this Plan:

 San Diego County Carpenters Pension Trust – merged September 30, 1991

 Construction Industry and Carpenters Joint Pension Trust for Southern Nevada

(“Southern Nevada Plan”) – merged January 1, 2005

 Southern California Lathing Industry Pension Plan (“Lathing Industry Plan”) – merged

July 1, 2008

 Carpenters Pension Trust Fund for Northern Nevada (“Northern Nevada Plan”) –

merged January 1, 2009

 Southwest Regional Council of Carpenters / New Mexico Retirement Plan – merged

January 1, 2019

 Utah Carpenters’ and Cement Masons’ Pension Plan – merged January 1, 2020

 Centennial State Carpenters Pension Trust – merged January 1, 2021

 Arizona State Carpenters Pension Trust Fund – merged January 1, 2022

If you have earned a benefit under a merged plan, your benefit will generally be a combination of

your benefit earned under the merged plan (subject to the terms of the pre-merger plan) and

your benefit earned under the Southwest Plan (subject to the terms of the Southwest Plan). After

a merger, no additional benefit will be earned under the pre-merger plan, except that you may,

if specified in the Plan, continue to accrue post-merger credit for determining vesting and

retirement eligibility with respect to both your pre- and post-merger accrued benefits. You may

obtain a copy of a merged plan’s Summary Plan Description at the time it was merged into this

Plan by contacting the Administrative Office.

This Booklet is merely a summary of the Plan. Your benefits under the Plan will be determined

under the Plan Document itself, as that document is amended by the Board from time to time

and interpreted by it or its duly authorized delegate, in its, or its delegate’s, sole and complete

discretion, in accordance with the Board’s intent in adopting a Plan Document provision. A copy

of the Plan Document can be obtained from the Administrative Office (see “Your Rights Under

the Employee Retirement Income Security Act of 1974” in Section 14 of this SPD).

Only the Board of Trustees, a duly authorized subcommittee of the Board, or the Board’s

specifically authorized delegate – the Carpenters Southwest Administrative Corporation (the

“Administrative Office”) – may interpret the Plan, this Booklet and any documents related to the

management or administration of the Plan and Trust. The Board, or its duly authorized delegate,

has exclusive authority, exercisable in its sole and complete discretion, to interpret the Plan and

Trust documents, this Booklet, managerial or administrative documentation, and any other

communications about the Plan issued under the Board’s authority, such as notices and other

summaries of material modifications of the Plan. While a great effort is made by the Carpenters

Union and Employers to help you obtain correct information about the Plan, information you

receive from the Carpenters Union or individual employers or their representatives should be

regarded as unofficial. In order to be official, any information or opinion about your rights under

the Plan must be communicated to you by the Administrative Office in a proper written form

signed by an authorized employee of the Administrative Office on behalf of the Board.

We hope that you find this booklet helpful. Please remember to keep the Administrative Office

informed, in writing, of any change in your mailing address, telephone or mobile phone number,

and email address to ensure that you receive all communications. At times, the Administrative

Office may send you automated voice messages or text messages to remind you of matters that

require your response. Any questions about your benefits or your rights and responsibilities under

the Plan, as well as notices you are required to provide to the Plan, should be directed to the

Administrative Office at the following address:

Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071-1706

(213) 386-8590 or (800) 293-1370

carpenterssw.org

Sincerely,

BOARD OF TRUSTEES

Aviso a los participantes que hablan Español: Este documento contiene una breve descripción

sobre sus derechos de beneficios del plan, en Ingles. Si tiene dificultad en comprender cualquier

parte de este documento, por favor de comunicarse con la Oficina Administrativa al (213)386-

8590 o (800) 293-1370, donde habrá varios representantes bilingües que le ayudaran.

Carpenter Labor Trustees Carpenter Management Trustees

Douglas McCarron, Chairman

Curtis Conyers, Jr., Co

Chairman

Oscar Cordova Tony Cornell

Sean Hartranft Kim Fromer

Frank Hawk Richard Harris

Jacob Lopez

Clint Larison

Josh Raper Bert Lewitt

Pete Rodriguez Anthony Rosetti

Frank Zambrano Greg Wilson

TABLE OF CONTENTS

Table of Contents

OVERVIEW OF THE PLAN .......................................................................................................... 1

SECTION 1 – HOURS WORKED IN COVERED EMPLOYMENT AND HOURS OF SERVICE ............... 10

Definition of “Hours Worked in Covered Employment” ............................................................. 10

How Hours Worked in Covered Employment are Used .............................................................. 10

Hours Which Are Not “Hours Worked in Covered Employment” May Be Used for Limited

Purposes Under the Plan ............................................................................................................. 10

Definition of “Hours of Service” .................................................................................................. 11

How Hours of Service are Used ................................................................................................... 12

SECTION 2 – HOW YOU PARTICIPATE IN THE PLAN .................................................................. 13

Unionized Carpenters .................................................................................................................. 13

Participation Rules for Special Classes of Employees .................................................................. 13

Apprentices .................................................................................................................................. 14

SECTION 3 – HOW YOU EARN PENSION CREDIT ...................................................................... 15

Types of Pension Credits ............................................................................................................. 15

Annual Statement of Pension Credits ......................................................................................... 15

Past Service Credit and Future Service Credit ............................................................................. 16

How Pension Credits are Earned and Accumulated .................................................................... 17

Special Provisions Affecting Pension Credit ................................................................................ 17

Limited Carry-Forward of Hours Worked in Covered Employment ............................................ 17

Pension Credit during Periods of Temporary Disability .............................................................. 17

Pension Credit for Military Service .............................................................................................. 19

Hours Worked in Covered Employment and Pension Credit in Special Circumstances ............. 21

Special Class Employees .............................................................................................................. 21

SECTION 4 – VESTING ............................................................................................................. 23

Vesting at Normal Retirement Age.............................................................................................. 23

Vesting Schedules ........................................................................................................................ 24

Vesting Service Credit .................................................................................................................. 25

Carry-Forward of Vesting Service Credits .................................................................................... 25

Apprentices .................................................................................................................................. 26

SECTION 5 – BREAKS IN SERVICE ............................................................................................. 27

Break in Service ........................................................................................................................... 27

One Year Break in Service ............................................................................................................ 27

Permanent Breaks in Service ....................................................................................................... 28

Reinstatement of Credit after a Permanent Break in Service ..................................................... 28

TABLE OF CONTENTS

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION ............................................................... 29

Amount of Normal Pension Earned After 2020 .......................................................................... 29

Table of Monthly Benefits Accrued in Plan Years After 2020 ..................................................... 29

Table of Monthly Benefits Accrued During Plan Years 2015-2020 ............................................. 31

Amount of Normal Pension Earned From 1991 through 2010 ................................................... 34

Amount of Normal Pension Earned Before 1990 ........................................................................ 36

Service Prior to 1976 ................................................................................................................... 36

Past Service Credit ....................................................................................................................... 37

Separation from Service .............................................................................................................. 37

Multiple Rate Scales .................................................................................................................... 37

A Normal Pension Example: ........................................................................................................ 40

Adjustments and Conditions which Affect Normal Pension Amount ......................................... 41

Delayed Retirement ..................................................................................................................... 41

If You are Age 65 and Do Not Apply for Benefits ........................................................................ 41

Early Retirement .......................................................................................................................... 42

Service Pension ............................................................................................................................ 45

SECTION 7 – TYPES OF PENSION ............................................................................................. 46

Requirements to Qualify for Each Type of Pension ..................................................................... 46

Normal Pension ........................................................................................................................... 46

Vested Pension ............................................................................................................................ 46

Regular Pension ........................................................................................................................... 47

Early Retirement Pension ............................................................................................................ 47

Early Retirement-Pensioners Qualifying for Supplemental Long Term Disability Benefits ........ 47

Service Pension ............................................................................................................................ 48

Exceptions .................................................................................................................................... 48

SECTION 8 – FORMS OF PAYMENT .......................................................................................... 49

Single Life Annuity ....................................................................................................................... 49

50% Qualified Surviving Spouse Pension ..................................................................................... 49

Optional 75% Qualified Surviving Spouse Pension ...................................................................... 50

Special Rules for the 50% or 75% Qualified Surviving Spouse Pension ...................................... 50

Domestic Relations Orders/Divorce Decrees .............................................................................. 51

Joint and Survivor Option ............................................................................................................ 51

Special Rules for the 50% and 100% Joint and Survivor Option ................................................. 52

Level Income Option .................................................................................................................... 53

Lump Sum Payment ..................................................................................................................... 53

SECTION 9 – SUSPENSION OF PENSION PAYMENTS ................................................................. 55

Prohibited Employment............................................................................................................... 55

Suspension Period ....................................................................................................................... 57

Additional Benefits ...................................................................................................................... 58

Additional Reinstatement Rule Applicable only to Early Retirement Pensioners ...................... 59

iii

TABLE OF CONTENTS

Non-covered Employment .......................................................................................................... 59

Annual Pension Verification ........................................................................................................ 60

SECTION 10 – DEATH BENEFITS ............................................................................................... 61

If You Die Before Pension Payments Commence ........................................................................ 61

If You Die After Pension Benefits Have Commenced .................................................................. 63

SECTION 11 – RECIPROCITY .................................................................................................... 66

Two Ways Reciprocity Can Help You ........................................................................................... 66

“Money-Follows-the-Person” Transfer of Contributions ............................................................ 67

Partial Pensions ........................................................................................................................... 68

Pro Rata Pensions ........................................................................................................................ 69

Suspension of Partial and Pro Rata Pension Payments When You Return to Work in Prohibited

Employment ................................................................................................................................ 69

Unilateral Reciprocity .................................................................................................................. 69

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL ......................... 71

How to Apply for Pension Benefits .............................................................................................. 71

Annuity Starting Dates ................................................................................................................. 71

Required Beginning Date ............................................................................................................. 72

Beneficiaries’ Application for Benefits ........................................................................................ 72

Claims and Appeals Procedures .................................................................................................. 72

CLAIMS PROCEDURES .................................................................................................................. 72

APPEALS PROCEDURES ................................................................................................................ 75

SECTION 13 – BASIC INFORMATION ........................................................................................ 78

SECTION 14 – YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF

1974 ............................................................................................................................... 86

SECTION 15 – PENSION PLAN TERMS ...................................................................................... 89

OVERVIEW OF THE PLAN

1. The cost of benefits is fully paid for by the Employers. As a Participant, you are not

required or permitted to contribute to the Plan.

2. To become a Participant in the Pension Plan, you must complete at least 500 Hours

Worked in Covered Employment during 12 consecutive months commencing with your

first reported Hour Worked in Covered Employment. Hours of Work in Covered

Employment and Hours of Service before you become a Participant will only be

recognized for benefit accrual and vesting purposes after you become, and while you

are, a Participant, unless you are Vested. If you have a Break in Service, you are treated

as a new Employee. See Section 2, “How You Participate in the Plan.”

3. A One Year Break in Service is a calendar year in which you have less than 500 Hours of

Service. A Permanent Break in Service is at least five consecutive One Year Breaks in

Service in which the number of Breaks equals or exceeds your Vesting Service years. If

you incur a Permanent Break, you may lose your previously earned Pension Credit and

Vesting Service Credit if you are not Vested at the time of your Permanent Break. Read

Section 5 for more information, including how you can restore your previous credits

after a Permanent Break.

4. To become “Vested” in the Plan you must have five (5) Vesting Service Credits without

incurring a Permanent Break in Service. 1,000 Hours of Service in a calendar year earns

you one (1) full Vesting Service Credit. See Section 4, “Vesting.”

5. To become eligible to be paid a Pension or other benefit you must earn Pension Credit.

1,200 hours worked in Covered Employment in a calendar year earns one Pension

Credit. See Section 3, “How You Earn Pension Credit.”

6. Generally, you will be eligible to retire on a Regular Pension at age 62 with at least 10

years of Pension Credit. An Early Retirement Pension is payable at a reduced level

starting on your 55

birthday, if you have at least 10 Pension Credits. There is a

reduction of ¼ of 1% for each month you are younger than age 62 (age 65 for benefits

accrued on or after January 1, 2011) on your Regular or Early Retirement date. See

Section 7, “Types of Pension.” for more details about the types of pensions that may be

available to you.

7. Starting in 2021, if you complete 1,800 Hours Worked in Covered Employment at an

Average Contribution Rate of $5.00 or more, your Benefit Accrual Rate will be $200.00

per month for that year. If you complete 1,900 or more Hours Worked in Covered

Employment, your Benefit Accrual Rate may be as much as $244.44 (for 2,200 Hours

Worked in Covered Employment). If your Average Contribution Rate is less than $5.00

in 2021 or later, your Benefit Accrual Rate will be proportionately less.

OVERVIEW OF THE PLAN

8. The Plan offers a number of different types of Pensions, and forms of payment of your

Pension, that can provide an income for you, or for you and your spouse or other

beneficiary. See Section 8, “Forms of Payment.” Briefly, the Types of Pensions available

are shown in the table below:

9. If you die before retiring but after you are Vested, the Plan will provide a pre-retirement

death benefit for your Spouse if you are married, or your beneficiary if you are not

married. See the first part of Section 10, “Death Benefits” for details.

10. Overpayments by the Plan, including payments obtained by fraud, misrepresentation

or concealment, may be recovered by the Plan, along with costs of collection, and

punitive damages if applicable, through offset, or any other appropriate remedy elected

by the Plan.

How Hours Worked in Covered Employment Count

“Hours Worked in Covered Employment” are the basic building blocks of your Pension. They

determine when you become a Plan Participant. They also determine the amount of your Normal

Pension (from which all other alternative types of Pension you may elect are derived), and your

qualification for most Pensions. See Section 1, “Hours Worked in Covered Employment and Hours

of Service.” The term “Hours Worked in Covered Employment” means hours for which you are

paid or entitled to payment by the Carpenter signatory contributing Employer for actual

performance of duties (and back pay hours intended to compensate you for periods you would

have performed such duties) which are reported or reportable with respect to the Plan to the

Administrative Office by such Employer, at not less than the full Master Labor Agreement

hourly contribution rate, in accordance with a Carpenters Union collective bargaining

agreement, Participation Agreement or Subscribers Agreement and the procedures of the

Administrative Office.

OVERVIEW OF THE PLAN

“Hours of Service” consist of your Hours Worked in Covered Employment plus a few paid non-

working categories of hours and are used only for vesting and determining qualification for a

Vested Pension.

Eligibility to be a Participant

If you complete 500 or more Hours Worked in Covered Employment during the consecutive 12-

month period following your first reported Hour, and in the case of apprentices you have

completed the educational requirements to be at least a fourth period apprentice or the

equivalent, you become a Participant in the Plan on the next January 1 or July 1. Hours of Work

in Covered Employment and Hours of Service before you become a Participant will only be

recognized for benefit accrual and vesting purposes after you become, and while you are, a

Participant unless you are Vested.

Generally, if you do not have at least 500 Hours Worked in Covered Employment in a subsequent

calendar year, you cease to be a Participant unless you have a Vested benefit, which generally

requires five Vesting Service Credits without a Permanent Break in Service. Special Class

Employees who are not members of a Carpenters Union bargaining unit and who are designated

in the Plan as eligible to be Participants, become and remain Participants under similar rules, but

using hours worked as a Special Class Employee for the applicable employer of the Special Class

Employee. See Section 2, “How You Participate in the Plan,” for more information.

Vesting Service

1,000 or more Hours of Service in a calendar year earns you one (1) full Vesting Service Credit. In

addition, 500 or more Hours of Service in a calendar year avoids a Break in Service under the

vesting rules. Hours of Service for vesting, and avoiding Breaks, also include non-working hours

for which you are entitled to payment for vacation, holiday, disability and leave. See Section 4,

“Vesting,” for more information about Vesting Service.

Pension Credit

1,200 or more Hours Worked in Covered Employment in a calendar year earns one full Pension

Credit. Pension Credits are used to qualify you for most types of Pensions, but not the amount of

the Pension. For example, you must have at least 10 Pension Credits at age 62 in order to qualify

for a Regular Pension. You can earn partial credit in a year if you work fewer than 1,200 Hours

Worked in Covered Employment. See Section 3, “How You Earn Pension Credit,” for more

information about Pension Credits.

Normal Pension Monthly Benefit Amount

The number of Hours Worked in Covered Employment in a given calendar year determines the

dollar amount of monthly Normal Pension you accrue in that year, commencing at Normal

Retirement Age (generally age 65). Provided you complete at least 700 Hours of Covered

OVERVIEW OF THE PLAN

Employment in a calendar year, you will accrue a specific amount of Normal Pension for that year,

even if you don’t earn a full Pension Credit. As stated earlier, starting in 2021, if you complete

1,800 Hours Worked in Covered Employment at an Average Contribution Rate of $5.00 or more,

your Benefit Accrual Rate will be $200.00 per month for that year. The maximum monthly benefit

accrual of $244.44 can be earned with an Average Contribution rate of $5.00 and 2,200 or more

Hours Worked in Covered Employment. For years prior to 2021, please refer to Section 6

“Amount of Your Normal Pension”.

Note: the 2,200-hour standard and the 1,200-hour standard shown in the chart above are based

on Hours Worked in Covered Employment. The 1,000-hour standard and the 500-hour standard

are based on Hours of Service which includes Hours Worked in Covered Employment as well as

certain non-paid hours. See “Vesting Service Credit” in Section 4 of this booklet regarding Hours

of Service.

OVERVIEW OF THE PLAN

CHECKLIST: Things for You to Do

Let us know where you are:

Keep the Administrative Office informed, in writing, of any change in your mailing address, email

address, and telephone numbers to make sure you receive all our communications.

Our address and telephone numbers:

Southwest Carpenters Pension Plan and Trust

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, CA 90071-1706

(213) 386-8590

(800) 293-1370

Website: carpenterssw.org

Email: inf[email protected]

If you leave Covered Employment:

Read Section 5 “Breaks in Service”, which explains that working fewer than 500 Hours Worked in

Covered Employment in a calendar year can cause a loss of previously earned Pension Credits,

unless you repair such a Break in Service with enough covered work thereafter, or if you become

Vested. Even after you are Vested, you should keep the Administrative Office notified of any

change of address while you are out of the carpentry industry. If you are uncertain about what is

required to avoid a Break in Service or to repair such a Break, please contact the Administrative

Office.

If your marital status changes:

Inform the Administrative Office immediately. See the discussion on “50% Qualified Surviving

Spouse Pension” and “Domestic Relations Orders/Divorce Decrees” in Section 8, “Forms of

Payment”, and “Designating a Beneficiary” in Section 10.

If you are contemplating retirement:

1. Contact the Administrative Office for a pension application at least three months before

you want to start receiving Pension payments. You should also contact all other funds

under which you may have earned credit and file applications with them.

2. Complete the application and return it to the Administrative Office. In connection with

your application, you will be asked to provide:

OVERVIEW OF THE PLAN

• Social Security numbers for yourself and your spouse

• Proof of age for yourself and your spouse, and

• Proof of marriage (a list of acceptable documents can be found on the back of

the application form)

If you are married and elect not to have your benefit paid as a Qualified Surviving Spouse

Pension, you will also be required to provide a signed and notarized spousal consent

form.

If your spouse has died, you will also be asked to provide a death certificate. Likewise,

if you are divorced, you will be asked to provide a copy of your divorce decree.

3. Sign your application in front of a notary. The notary who signs your application may

not be your spouse or beneficiary. If the Plan ascertains that an unqualified individual

notarized your application, your application will be rendered invalid, and you will be

responsible for any and all overpaid benefits.

You should also let the Administrative Office know the names and locations of other

funds to which you are applying for benefits. See “How to Apply for Pension Benefits” in

Section 12 for more information.

Check your options:

There may be waiting periods and deadlines in connection with various types of Pensions provided

by the Plan, or the optional forms of payment of the type of Pension you elect. You should check

your options from time to time, especially whenever there is a change in your family status. If in

doubt, please contact the Administrative Office. (See Section 7, “Types of Pension,” and Section

8, “Forms of Payment,” for more information)

Keep your records:

The Administrative Office keeps the authoritative record of (i) your Hours Worked in Covered

Employment which are used to calculate the amount of your monthly Normal Pension and count

toward your Pension Credit(s), and (ii) your accumulated total Pension Credit. You can protect

yourself against discrepancies by checking your own work records against the annual pension

benefit statement which is furnished by the Administrative Office to each Participant who had

hours reported that year for Pension purposes. If you disagree with such statement, notify the

Administrative Office in writing as soon as possible. If you do not request a correction to your

statement within three years of the close of the last calendar year reflected on the statement, the

statement will be considered the final statement of your pension credit earned through the end of

such calendar year, unless evidence is presented to the Administrative Office and the Board, as

determined in their complete discretion, such as original pay stubs, is presented by you thereafter.

Try to keep original pay vouchers, payroll check stubs, and other evidence of employment you

may receive. This applies to work under this Plan and plans that are “Related Plans” under the

concept of reciprocity. See Section 11, “Reciprocity.” Also, work for the same Employer

OVERVIEW OF THE PLAN

immediately before or after working as a member of the Carpenters Union bargaining unit can

help you to attain a Vested right to a Pension in some circumstances. This will not affect most

Carpenters who remain continuously employed in the Carpenters Union bargaining unit. See

“Annual Statement of Pension Credits” in Section 3 for more information.

Designate a Beneficiary:

Please be sure to file a written beneficiary designation for the Plan’s Death Benefits with the

Administrative Office. If your beneficiary should die before you, or if you want to change your

beneficiary designation, please promptly inform the Administrative Office. If you want to have

your death benefits go to someone other than your spouse, it will be necessary to file a new

beneficiary designation form and obtain your spouse’s consent to the named beneficiary. (See

“Designating a Beneficiary” in Section 10 for more information)

Any questions? Ask the Administrative Office:

You should write to, or otherwise contact, the Administrative Office with any questions you have

about your rights, benefits and obligations under the Plan, or any disagreement or doubts you

may have concerning the record of your work hours reportable to the Trust. You can also contact

the Administrative Office to inquire about the number of Pension Credits you have, Break in

Service status, and any other factors that affect the calculation of your Pension, if any, to which

you are entitled. Remember, if you have a question for which you want an official response, put

the question in writing to the Administrative Office and request a written response. Only proper

written responses from the Administrative Office signed by a duly authorized employee of the

Administrative Office on behalf of the Board may be regarded as official. In rare instances, official

written responses may be subject to correction in the unlikely event it is determined to be an

incorrect interpretation of the Plan. The authority to interpret the Plan documents, and all related

managerial or administrative documents, including this SPD, is vested exclusively with the Board.

To the degree determined by the Board, such authority may be delegated to a sub- committee of

the Board or to the Administrative Office. The authority to interpret the Plan documents is

exercised in the sole and complete discretion of the Board or its delegate, subject only to

applicable Federal law. The interpretive determinations of the Board or its delegates are binding

upon Plan Participants, beneficiaries and all other interested persons. The administrative

software and practice of the Administrative Office in administering Plan benefits as summarized

in this Summary Plan Description represent the Board’s interpretation of the Plan in accordance

with the Board’s original intent subject only to the unlikely event of the Board’s reinterpretation

of a Plan provision in a particular case.

Common Mistakes to Avoid

1. Not updating beneficiary designation or not submitting a divorce decree after a divorce

(see “Domestic Relations Orders/Divorce Decrees” in Section 8)

2. Not submitting a written address change after moving (see “Let us know where you are”

in the “CHECKLIST: Things for You to Do” portion of the Overview of the Plan)

OVERVIEW OF THE PLAN

3. Not informing the Administrative Office of employment in the jurisdiction of a related

fund that has a reciprocity agreement with the Southwest Carpenters Pension Trust or

for which there may be Regional Credit or Unilateral Reciprocity (see Section 11

regarding “Reciprocity”)

4. Not applying for Pension Credit within a year of becoming temporarily disabled (see

“Pension Credit during Periods of Temporary Disability” in Section 3)

5. Waiting more than 3 years to dispute a discrepancy in reported hours (see “Annual

Statement of Pension Credits” in Section 3)

Our Commitment to Serving You

1. The Pension Trust will provide you with all the required notices and information

required by law, and the Administrative Office will help you understand the purpose of

such information. These notices and additional helpful information are also available on

the Administrative Office’s website at carpenterssw.org.

2. Administrative Office personnel are available to assist you by telephone and in person

during regular business hours. Assistance is available in other languages upon request.

3. If you receive a correspondence, telephone or text message related to your pension

that is incorrect, please contact the Administrative Office as soon as possible.

4. The Administrative Office takes the utmost care to ascertain the identity of an individual

before personal information is discussed.

SECTION 1 – HOURS WORKED IN COVERED EMPLOYMENT AND HOURS OF SERVICE

“Hours Worked in Covered Employment” are the basic building blocks used to determine the

Pension the Plan provides for the Union Carpenter.

Definition of “Hours Worked in Covered Employment”

The term “Hours Worked in Covered Employment” means hours for which you are paid or entitled

to payment by the Carpenter signatory contributing Employer for actual performance of duties

(and back pay hours intended to compensate you for periods you would have performed such

duties) which are reported or reportable with respect to the Plan, to the Administrative Office by

such Employer, at not less than the full Master Labor Agreement hourly contribution rate, in

accordance with a Carpenters Union collective bargaining agreement, Participation Agreement or

Subscribers Agreement and the procedures of the Administrative Office.

Therefore, hours not performed under a Carpenters Union collective bargaining agreement will

not count as Hours Worked in Covered Employment. Even if hours are performed under such a

collective bargaining agreement, they must be reported or reportable at no less an hourly rate

than provided by the Master Labor Agreement in order to be classified as Hours Worked in

Covered Employment. Finally, only hours reportable to the Plan can be Hours Worked in Covered

Employment. Hours reported to related funds or Regional Plans are not Hours Worked in Covered

Employment. See discussion immediately below, however, about “Hours Which Are Not ‘Hours

Worked In Covered Employment’ May Be Used for Limited Purposes Under the Plan.”

How Hours Worked in Covered Employment are Used

Your Hours Worked in Covered Employment accumulated during a 12-month period, usually the

calendar year, generally are used to determine:

1. Your eligibility to become a Participant in the Plan. See Section 2, “How You Participate

in the Plan.”

2. The amount of your monthly Normal Pension commencing at Normal Retirement Age

(generally age 65) from which the amount of any alternative types of Pensions which

you are qualified to choose, are derived. See Section 6, “Amount of Your Normal

Pension.”

3. The amount of your accumulated Pension Credit. See Section 3, “How You Earn Pension

Credit.”

Hours Which Are Not “Hours Worked in Covered Employment” May Be Used for Limited

Purposes Under the Plan

There are other types of hours that exist that are not classified as Hours Worked in Covered

Employment. These types of hours may or may not be reportable to the Administrative Office,

SECTION 1 – HOURS WORKED IN COVERED EMPLOYMENT AND HOURS OF SERVICE

which may ultimately affect a Pension. For example, hours reported to related funds or Regional

Plans, hours reported or reportable under special collective bargaining agreements which do not

require the maximum hourly Master Labor Agreement rate of contribution and hours worked by

Special Class Employees (who are typically not members of a Carpenters Union collective

bargaining agreement) are not classified as Hours Worked in Covered Employment but are treated

as though they were, for limited purposes, under special rules applicable to each unique situation.

Typically, such hours do not increase the amount of Normal Pension, with a few exceptions

described below, but they do count toward accumulation of Pension Credits for purposes of

satisfying the service requirements to qualify for a type of Pension.

There are three exceptions to the general rule that such hours, which are not Hours Worked in

Covered Employment, do not increase the amount of Normal Pension:

1. Where the full Master Labor Agreement hourly rate is contributed on hours per month

for a Special Class Employee in accordance with the Plan and participation agreements

applicable to such Special Class Employee, such hours are counted as though they were

Hours Worked in Covered Employment toward increasing the amount of a Normal

Pension

2. Contributions for hours transferred from a Related Plan under the terms of the

International Reciprocal Agreement are counted as though they were Hours Worked in

Covered Employment toward increasing the amount of pension benefits under this

Plan. Hours worked in the jurisdiction of a Related Plan for which no monetary

contributions are owed to the Trust will not be credited under this Plan

3. Hours reported after 2014 under Collective Bargaining Agreements approved by the

Board at average hourly rates described in Section 6, “Service January 1, 2015 to

December 31, 2020.”

Example: Hours worked under the Residential Contractors Association agreement are not Hours

Worked in Covered Employment because they do not require payment of the maximum hourly

contributions to the Trust established by the Master Labor Agreement nor are they recognized as

such effective January 1, 2015. Therefore, such hours do not increase the amount of a Normal

Pension or count toward accumulation of Pension Credit. They also do not count toward qualifying

for recent benefit increases. However, such hours, if timely and properly reported to the

Administrative Office for purposes of the Plan, do count for purposes of eligibility to become a

Participant in the Plan. Also, such hours count for Vesting Service Credit and for purposes of

meeting the service requirement to qualify for certain types of Pensions. However, hours worked

under the Residential Contractors Agreement prior to 1996 are deemed to be Hours Worked in

Covered Employment for all purposes.

Definition of “Hours of Service”

Prior to May 1, 1976, “Hours of Service” meant Hours Worked in Covered Employment.

Thereafter, “Hours of Service” include Hours Worked in Covered Employment as well as additional

SECTION 1 – HOURS WORKED IN COVERED EMPLOYMENT AND HOURS OF SERVICE

hours paid for non-performance of duties, including hours of vacation, holiday, disability and

leave, provided that such “non-work time” shall not be credited if you are actually working. A

period of employment that is not Covered Employment with the same contributing Employer that

is continuous with your Covered Employment will not result in a Break in Service provided there

is no quit, discharge, or other termination of employment between the period that is Covered

Employment and the period that is not covered.

How Hours of Service are Used

Hours of Service are used to determine your accumulated Vesting Service Credit, as well as One

Year Breaks in Service and Permanent Breaks in Service for vesting purposes. Five Vesting Service

Credits without an intervening Break in Service results in a Vested right to a Pension at Normal

Retirement Age. In order to qualify for a Vested Pension payable at age 62 you must accumulate

10 Vesting Service Credits.

SECTION 2 – HOW YOU PARTICIPATE IN THE PLAN

Unionized Carpenters

If you have 500 or more Hours Worked in Covered Employment during a 12 consecutive month

period, beginning with the month in which you first have such an hour worked, you will become

a Participant in the Plan on the January 1 or July 1 immediately following the end of such 12-

month period, if you are then still employed in Covered Employment. Hours worked in continuous

employment with a contributing Employer in a job which is not Covered Employment can be used

to satisfy this 500-hour requirement if such hours of employment immediately follow or precede

work in Covered Employment with the same Employer (see Keep Your Records under Overview of

the Plan). Reported hours will typically not include hours worked in non-collectively bargained

positions for the same Employer.

If you have a One-Year Break in Service (described in Section 5, “Breaks in Service”) before you

are Vested, you cease being a Participant, and must satisfy the rules set forth above, again, to

qualify under the Plan.

Participation Rules for Special Classes of Employees

In addition to covering Employees working in Covered Employment, the Pension Plan permits,

under certain conditions, participation by special classes of Employees. The Employer of a special

class of Employees must provide documentation as required by the Administrative Office for such

Employees to be eligible.

In general, special classes of Employees must meet the same eligibility requirements mentioned

above for Carpenters. The hours worked by the special class Employees in their jobs are used in

determining the 500-hour requirement.

The special classes of Employees that may be eligible to participate, if their Employer provides the

necessary documentation and satisfies the rules of the Plan regarding special classes of

Employees, include (1) Carpenter Craft Superintendents and Assistant Carpenter Craft

Superintendents, (2) Employees of the Carpenters Union, (3) non-bargaining unit Employees of

signatory Carpenter employers, (4) Employees of the Administrative Office and (5) certain

Employees working under special collective bargaining agreements, Participation Agreement or

Subscribers Agreement. Special conditions may apply to each of these groups for participation,

benefit accrual (increasing the amount of Normal Pension), vesting (completion of enough Vesting

Service to have the Pension that has accrued paid at retirement), or meeting service conditions

to qualify for a type of Pension.

In the case of Carpenter Craft Superintendents and Assistant Carpenter Craft Superintendents,

participation is permitted for those Employees who previously were employed as a Carpenter

under any Collective Bargaining Agreement requiring contributions to the Trust. However, after

July 1, 1990, participation for this special class is not permitted unless written application is filed

with the Administrative Office within 90 (ninety) days of the date employment as a

SECTION 2 – HOW YOU PARTICIPATE IN THE PLAN

Superintendent starts. Hours worked as a Carpenter Craft Superintendent or Assistant Carpenter

Craft Superintendent are not considered Covered Employment for Pension Credit until the date

your Employer properly elected to contribute to the Plan on your behalf.

Participation in the Pension Plan by these special classes of Employees may be terminated if

coverage of such individuals would cause the Pension Plan to violate the non-discrimination rules

of the Internal Revenue Code. If that happens, such individuals may lose any Pension Credits and

Vesting Service Credit for the period such violation existed. Loss or suspension of service credited

to such individuals may also result from the failure of an individual Employer to provide

information, data, reports or documents or to permit the Trustees to conduct a payroll audit of

the individual Employer.

Apprentices

Southwest Apprentice Carpenters become Participants when they complete the educational

requirements and experience to enter the fourth period of their training (or the equivalent

thereof in the Southwest Region outside of Southern California).

See page 26 for information regarding Apprenticeship Credit.

SECTION 3 – HOW YOU EARN PENSION CREDIT

Pension Credits result from the accumulation of Hours Worked in Covered Employment in a

calendar year. Since 1976, once you have at least 300 Hours Worked in Covered Employment in a

calendar year, you receive 1/12 of a Pension Credit for each 100 Hours Worked in Covered

Employment, up to a maximum of 1 (one) Pension Credit in calendar year from 1200 Hours

Worked in Covered Employment.

The accumulated Pension Credits which result from your Hours Worked in Covered Employment

are used to determine whether you meet service requirements that are necessary to qualify you

for certain types of Pensions.

Hours Worked in Covered Employment do not include hours reported to other trusts outside the

jurisdiction of the Plan, such as hours reported outside Southern California in states in the

Southwest Region before the Plan’s jurisdiction expanded to such states, or which are outside the

Southwest Region, but are related funds for purposes of reciprocity, which may qualify you for a

Partial Pension or Pro-Rata Pension. See Section 11, “Reciprocity.” However, such hours do result

in Regional Credits, or related credits for reciprocity purposes, which do not increase the amount

of your Pension under this Plan (because they typically count toward the pension in a previous

plan) but, under specific rules, may help you become Vested and meet the service qualifications

for types of Pensions under this Plan.

Hours Worked in Covered Employment may also include hours reported to other Carpenter Trusts

which have been transferred to the Southwest Plan according to the International Reciprocal

Agreement, subject to the Participant’s timely election. See Sections 11 and 12 for additional

information.

Types of Pension Credits

Carpenters who were working before contributions commenced to the Plan in 1959, may have

obtained Pension Credit in the form of Past Service Credit. Since then, Pension Credit has been

earned in the form of a Future Service Credit. See Past Service Credit and Future Service Credit in

this Section, below. For most Carpenters, Pension Credit and Future Service Credit are the same.

Annual Statement of Pension Credits

The Administrative Office, who maintains the authoritative record of your accumulated Pension

Credits, mails an annual statement of such record to your last known address on file. The annual

statement shows changes to your accumulated Pension Credits during the preceding calendar

year. This allows you to check your record for accuracy and promptly document any missing hours.

If you have not received a current annual statement, please request one from the Administrative

Office. The Administrative Office may correct such statements for incorrect data it discovers,

including, without limitation, delinquent hours resulting from employer audits. If you disagree

with your annual statement, notify the Administrative Office in writing as soon as possible. If you

do not request a correction to your statement within three years of the close of the last calendar

SECTION 3 – HOW YOU EARN PENSION CREDIT

year reflected on the statement, the statement will be considered the final statement of your

Pension Credit through the end of such calendar year, unless evidence convincing to the

Administrative Office and Board, as determined in their complete discretion, is presented by you

thereafter.

The Administrative Office is not obligated to maintain original contribution source documents

indefinitely. The Administrative Office may correct mistakes in the pension record it discovers

from sources other than you at any time, and particularly at the time your Pension application is

processed, when the Administrative Office reviews your entire Pension history.

Provided you also have the Pension Credits (or Vesting Service Credits) necessary to qualify for a

Pension, the amount of your Pension benefits earned in 1979 and in later years is based on the

number of Hours Worked in Covered Employment. You need 1800 Hours Worked in Covered

Employment in a calendar year in 1979 through 2020 to earn the maximum benefit for that year.

If you have fewer than 1800 Hours Worked in Covered Employment in such a calendar year, the

amount of benefit earned is reduced. Beginning in 2015, the amount of Pension benefit varies

based upon both the amount of hours worked and the average contribution rate. Beginning in

2021, if you have over 1800 Hours Worked in Covered Employment in a calendar year, you may

qualify for an increased benefit accrual, but the amount of Pension Credit will not change. The

maximum benefit as of January 1, 2021 is reached by earning 2200 or more Hours Worked in

Covered Employment.

Starting in 1987, you need a minimum of 700 Hours Worked in Covered Employment in a given

calendar year to earn any benefit for that calendar year. The Administrative Office can provide

further information about years prior to 1987. See Section 6, Amount of Your Normal Pension,

for further details.

Past Service Credit and Future Service Credit

Past Service Credit is Pension Credit reflected on the Administrative Office’s record of

accumulated Pension Credit for individuals with Carpenter collective bargaining or

Superintendent service prior to January 1, 1959 (December 1, 1961 for Carpenters Local Union

2375), when employer contributions to the Trust began. The rules for earning Past Service Credit

were similar to those for accumulating Pension Credit through 1969 shown in the box in the next

subsection, “How Pension Credits are Earned and Accumulated.” If you are commencing a Pension

and you are affected by Past Service Credit, the Administrative Office can furnish you with details

of your Past Service Credit.

Pension Credits earned after January 1, 1959 when employer contributions to the Trust were

required (December 1, 1961 for Carpenters Local Union 2375), have been historically called Future

Service Credits. The vast majority of Pension Credits under the Plan, including the Pension Credits

currently being earned, are Future Service Credits.

SECTION 3 – HOW YOU EARN PENSION CREDIT

How Pension Credits are Earned and Accumulated

You earn Pension Credits (in the form of Future Service Credits) under the following rules, for

Hours Worked in Covered Employment during periods starting in 1976, shown in the following

table.

You cannot receive more than one Pension Credit for work in one calendar year and surplus hours

cannot be carried over except as described under “Limited Carry-Forward of Hours Worked in

Covered Employment” under subsection, “Special Provisions Affecting Pension Credit.”

Special Provisions Affecting Pension Credit

Limited Carry-Forward of Hours Worked in Covered Employment

If you have reported more than 1,200 Hours Worked in Covered Employment, those excess Hours

in Covered Employment (other than military or disability hours described immediately below

except if required by applicable law) are carried forward to the immediately subsequent calendar

year to a maximum of an additional 3/12ths of a Pension Credit (300 hours), for such subsequent

calendar year.

Pension Credit during Periods of Temporary Disability

The Average Contribution Rate that is used to determine the amount of Normal Pension accrued

during the period of entitlement to State Disability or Workers’ Compensation Temporary

Disability benefits shall be based on the average hourly contribution rate applicable to the Hours

Worked in Covered Employment preceding your entitlement to Disability benefits.

SECTION 3 – HOW YOU EARN PENSION CREDIT

Temporary Disability arising before January 1, 2022: If you are disabled, Pension Credit may be

granted for periods of disability provided the disability commenced while you were working in

Covered Employment, and you meet one of the following conditions:

1. The period of disability is one for which Workers’ Compensation Temporary Disability

benefits are paid (or which constituted a valid waiting period for such benefits).

2. The period of disability entails hospital confinement as a registered bed patient, up to a

maximum of 26 weeks per disability, regardless of whether such period was covered by

Workers’ Compensation or State Disability benefits.

Pension Credit will be granted for periods of such temporary disability at the rate of 40 hours per

week (less 8 hours for each Carpenter Union holiday in the week) up to a maximum of 1,200 hours

per calendar year.

Temporary Disability arising on or after January 1, 2022: If you are disabled, Pension Credit may

be granted for periods of disability provided the disability commenced while you were working in

Covered Employment, and either (a) the period of disability is one for which Workers’

Compensation Temporary Disability benefits are paid (or which constituted a valid waiting period

for such benefits); or (b) the period of disability is State-approved short-term disability or (c)

certified by a Physician (for States that do not provide such benefits), regardless of whether such

period was employment-related.

The following requirements must be met for Temporary Disabilities on or after January 1, 2022:

1. The requesting Participant has not received Long Term Disability Payments from the

Southwest Carpenters Health and Welfare Trust for the same period;

2. The requesting Participant has accrued 10 Vesting Service Credits prior to the onset of

disability for which credits are requested;

3. The requesting Participant received vesting credit earned based on hours worked within

the jurisdiction of the Southwest Carpenters Pension Trust of at least 1,000 Hours of

Service in either the year of disability or the preceding calendar year;

4. The requesting Participant received employer reported Pension contributions based on

an average of at least 120 Hours Worked in Covered Employment in each of the three

months prior to onset of disability; and

5. The requesting Participant files a written application for Pension Credit for a non-

working period due to temporary disability within one year of the onset of disability

If the above five requirements are satisfied, Hours Worked in Covered Employment will be granted

for periods of such temporary disability at the rate of 7 hours per day to a maximum of 35 hours

per week. The maximum Hours Worked in Covered Employment granted shall not exceed:

1. 1,200 hours in a calendar year;

2. 2,400 hours in a 5-calendar year period; and

3. 10% of the total Hours Worked in Covered Employment during the individual’s career

SECTION 3 – HOW YOU EARN PENSION CREDIT

Participants who live in a state that does not provide short-term State Disability Benefits can

satisfy documentation requirements if he/she provides the Plan with written certification from a

Physician, who is a medical doctor approved by the Plan, certifying that the Participant is disabled

as defined by the Plan.

IMPORTANT: You must submit a disability affidavit within 12 months of when your disability

began to receive the maximum credit. If notice is not given within 12 months of the start of

temporary disability, then credit is given only for the 12 months that precede the date that

notice is given. If notice is given within 12 months of the start of disability, then credit is given

for the period of temporary disability up to the maximum allowed limits.

Pension Credit for Military Service

Re-Employment in Covered Employment before December 12, 1994 following Military Service.

Pension Credit may be granted for periods of service in the Armed Forces of the United States

followed by re-employment prior to December 12, 1994 at the rate of 40 hours for each week of

service up to a maximum of 1,800 hours per calendar year.

For military service prior to May 1, 1976, you may receive credit if your service was during a time

of war or national emergency or was as a result of being drafted. For military service after May 1,

1976, but involving re-employment under the Plan before December 12, 1994, you may receive

credit for military service provided your discharge was honorable. In addition, you must have been

a Participant in the Plan when you entered the military and you must have been available for

Covered Employment within 90 days of your discharge (unless you were disabled at the time, in

which case you must have been available for work within 90 days of recovery from your disability).

Under certain circumstances, Past Service Credit may also be granted for periods of military

service before your Contribution Date provided the service was covered by federal re-

employment provisions and you were employed in a job that would qualify for Past Service Credit

immediately before you entered military service and were reemployed as a Carpenter by an

Employer who was contributing to this Plan within 90 days of your discharge or, if disabled, after

recovery.

Re-Employment in Covered Employment on or after December 12, 1994 following Military Service.

Effective for re-employments occurring on or after December 12, 1994, Participants who satisfy

conditions imposed by the Uniformed Services Employment and Reemployment Rights Act of

1994 (USERRA) will be entitled to have their period of military service treated as Hours of Work in

Covered Employment for all purposes under the Plan, including vesting, benefit accrual and

eligibility as well as for purposes of earning Vesting Service Credit, Future Service Credit and Hours

of Service for purposes of avoiding a Break in Covered Employment. To receive credit, your

absence from Covered Employment must be on account of military service in the United States

Uniformed Armed Services and you must be in Covered Employment at the time you entered

military service. You must also return to Covered Employment after your military service ends.

SECTION 3 – HOW YOU EARN PENSION CREDIT

Your entitlement to benefits for time spent in military service depends on your compliance with

other legal requirements of USERRA, including the following:

• Advance notice is given to your Employer informing them that your absence from

employment is because of military service.

• Your discharge from military service must not be on conditions other than honorable.

• The total length of your absence due to military service may not exceed five years.

• You report or submit an application for reemployment following military service within

the time allowed by law.

Each full year of military service performed by a Plan Participant is equal to one year of Pension

(Future Service) Credit (1,200 hours), Hours of Service for Vesting Service Credit (1,000 hours),

and also Hours of Covered Employment for purposes of earning benefits (1,800 hours). However,

if you served for less than a year, your time served will be prorated over 365 days per year. Until

you or your employer notifies the Administrative Office that you have met the foregoing

conditions, you will not receive any credit for your military service.

If you die or become totally disabled while performing qualified military service, the period of

qualified military service shall be counted for purposes of accumulating Vesting Service Credit and

Pension Credit as if you had resumed Covered Employment with an Employer on the day

preceding death or total disability and then terminated Covered Employment on the date of death

or the day the total disability was incurred. This is effective for deaths or total disabilities occurring

on or after January 1, 2007.

In Plan Years beginning January 1, 2015, pension benefit accruals depend on an Average

Contribution Rate as described in Section 6, “Amount of Your Normal Pension”. In general, for

purposes of benefit accruals during Qualified Military Service, the applicable Average Contribution

Rate is the average rate based on Covered Employment in the calendar year immediately

preceding the calendar year when Qualified Military Service begins.

As the rules for crediting military service are complex, we recommend that you contact the

Administrative Office before you leave and after you return from your military service. If you think

you may be eligible for Pension Credit for a period of military service, please provide the

Administrative Office with accurate records of your service.

SECTION 3 – HOW YOU EARN PENSION CREDIT

Hours Worked in Covered Employment and Pension Credit in Special Circumstances

Pension Credit results only from Hours Worked in Covered Employment except as provided for

disability and military service. Therefore, hours worked under Carpenter collective bargaining

agreements requiring contributions at any rate less than the then applicable Master Labor

Agreement rate, or which do not require contributions to the Trust, do not count toward

accumulation of Pension Credit, except hours deemed Hours Worked in Covered employment

made under Collective Bargaining Agreements approved by the Board at average contribution

rates described in Section 6, under “Service January 1, 2015 to December 31, 2020.” However,

hours worked under the Residential Contractors Association Agreement prior to 1996 for which

contributions were reported thereunder in accordance with the Plan and the required procedures

of the Administrative Office, were credited as Hours Worked in Covered Employment for purposes

of increasing the amount of Normal Pension and accumulating Pension Credit. Hours worked

under the Residential Contractors Association Agreement after such date do not result in Pension

Credit, but, if they were required to be reported to the Administrative Office under such

Agreement and the Plan, and in fact were timely reported to the Administrative Office in a manner

acceptable to it, are deemed credited for vesting purposes (see Section 4, “Vesting”) and for

purposes of meeting the service conditions for qualification for Vested Pensions and Service

Pensions (see Section 7, “Types of Pension”).

Special Class Employees

Certain special class employees who are not members of a collective bargaining unit may be

Participants in the Plan under special rules in accordance with the Plan and agreements with the

Administrative Office. Where hourly contributions are reported on behalf of such employees in

accordance with the Plan and such rules and agreements at not less than the Master Labor

Agreement hourly rate, such reported hours are deemed Hours Worked in Covered Employment.

As a result, they increase the amount of Normal Pension and count toward accumulation of

Pension Credit as though they were Hours Worked in Covered Employment.

SECTION 3 – HOW YOU EARN PENSION CREDIT

SECTION 4 – VESTING

When you become “Vested,” your right to a Normal Pension (in the amount determined by your

Hours Worked in Covered Employment) can never be lost even if you stop working in Covered

Employment.

You can become Vested in several ways:

Effective Date You Become Vested

January 1, 1999

You have earned 5 Vesting Service

Credits (including one Hour of Service

on or after January 1, 1999) without a

Permanent Break in Service; or

You have reached the 5th anniversary of

commencement of participation,

without a Permanent Break in Service,

and you are age 65 or older.

January 1, 1988 You have earned 10 Pension Credits or

10 Vesting Service Credits; or

You have reached the 5th anniversary of

commencement of Participation, without

a Permanent Break in Service, and you

are age 65 or older.

January 1, 1976

You have earned 10 Pension Credits or

10 Vesting Service Credits; or

You have reached the 10th anniversary

of commencement of Participation,

without a Permanent Break in Service,

and you are age 65 or older.

Vesting at Normal Retirement Age

Normal Retirement Age is based on two factors: your age and the number of years you have

participated in the Plan. You attain Normal Retirement Age if you are an Active Participant when

you are at least age 65 and meet one of the following requirements:

1. 10 years have elapsed since your first participation in the Plan as described in the middle

set of boxes above; or

SECTION 4 – VESTING

2. after January 1, 1988, five years have elapsed since your first participation in the Plan,

as described in the middle set of boxes above.

For example, if you are age 65 but have not yet earned five Vesting Service Credits, you may

become Vested when you have reached your fifth anniversary of Plan participation. Although the

Plan has January 1 and July 1 dual entry dates for participation, when calculating the fifth or tenth

anniversary of plan participation for the purpose of attainment of Normal Retirement Age,

participation is deemed to begin at the start of the calendar year in which you commenced

participation. Thus, if you initially became a Participant on July 1, 2015, your participation is

deemed to have commenced as of January 1, 2015. Therefore, the fifth anniversary of your

participation would be January 1, 2020 provided you are an Active Participant on that date and

did not incur a Permanent Break in Service between January 1, 2015 and January 1, 2020.

A One-Year Break in Service will not prevent the fifth or tenth anniversary of plan participation

from occurring provided you return to Covered Employment and earn a Vesting Service Credit

before incurring a Permanent Break in Service. Thus, in the prior example, if you fail to earn any

Hours of Service during 2007 and therefore incur a One Year Break in Service during that year, but

thereafter return to Covered Employment and earn a Vesting Service Credit and resume your

status as an Active Participant as of January 1, 2020, you will attain Normal Retirement Age

provided you are at least 65 years old at that time. However, if you incur a Permanent Break in

Service prior to the fifth anniversary of commencement of Plan participation, you lose the

previous years of participation and must establish a new commencement date of participation.

Vesting Schedules

The following chart illustrates the Plan’s historical vesting rules:

Effective Date Requirements

January 1, 1975 10 Pension Credits

July 1, 1972 10 Pension Credits by age 45 or

25 Pension Credits earned in the Eleven

Southern California Counties

July 1, 1971 10 Pension Credits by age 45

January 1, 1963 15 Pension Credits by age 45

Remember, Vesting Service Credits or Pension Credits you earned before a Break in Service are

not counted in determining your Vested status. However, you may reinstate your Vesting Service

Credits and Pension Credits if you repair a Break in Service. See “One Year Break in Service” in

Section 5 for a discussion of how to repair a One Year Break in Service.

SECTION 4 – VESTING

Vesting Service Credit

Vesting Service Credit is another measure of your work in Covered Employment but differs from

Pension Credit in several respects: (1) it is earned only for work after January 1, 1959 (December

1, 1961 for Local 2375), or the commencement of contributions for special class employees; (2) it

is calculated based on Hours of Service and a different formula; and (3) it is used only to establish

the non-forfeitability of your Pension benefits (that is, Vesting Service Credit is not used to

determine the amount of your Pension, only your right to a Pension).

You earn Vesting Service Credit according to the following schedule:

Hours of Service in a Calendar Year Vesting Service Credit

Fewer than 300 hours None

300

399

3/10 Year

400

499

4/10 Year

500

599

5/10 Year

600

699

6/10 Year

700

799

7/10 Year

800

899

8/10 Year

900

999

9/10

Year

000 and

over

One Year

Prior to May 1, 1976, “Hours of Service” as used above meant Hours Worked in Covered

Employment. Thereafter, it includes Hours Worked in Covered Employment as well as additional

hours paid for non-performance of duties, including hours of vacation, holiday, disability and

leave, provided that such “non-work time” shall not be credited if you are actually working. A

period of employment that is not Covered Employment with the same contributing Employer that

is continuous with your Covered Employment will not result in a Break in Service provided there

is no quit, discharge, or other termination of employment between the period that is Covered

Employment and the period that is not covered.

Carry-Forward of Vesting Service Credits

If you have more Hours of Service in a calendar year than are required for a full Vesting Service

Credit, the surplus Hours of Service will be carried forward to the next calendar year subject to

the following conditions:

1. Only the number of Hours of Service required to give you up to an additional 3/10ths of

a year of Vesting Service Credit (300 hours) will be carried forward; and

2. Such Hours of Service will be carried forward only to the immediately following calendar

year; and

SECTION 4 – VESTING

3. Credit for periods of disability and military service cannot be carried forward.

Apprentices

Though Collective Bargaining Agreements vary, most Apprentices within the coverage area of the

Plan are entitled to receive employer contributions at the 3rd or 4th level of their apprenticeship.

Once those contributions to the Plan are required by the Collective Bargaining Agreement, an

Apprentice may become a Participant of the Plan (see Section 2). You will also be earning Pension

Credit and Vesting Credit for those Hours Worked in Covered Employment.

However, all of your hours worked as an apprentice under a qualified Collective Bargaining

Agreement at levels that are not entitled to employer contributions to the Plan may be counted

toward your Vesting Credit and Service Pension Eligibility Credit, but not as Pension Credits, as

long as you became a Participant in the Plan for Annuity Starting Dates on or after January 1, 2008.

You should notify the Administrative Office if you believe you are entitled to additional Vesting

Credit or Service Pension Eligibility Credit based on hours of worked as an Apprentice.

It is in your best interest to maintain a record of your work hours and pay stubs to verify and prove

your eligibility for benefits and to carefully review any information or statements you receive from

the Plan.

SECTION 5 – BREAKS IN SERVICE

Break in Service

The Pension Trust exists primarily to provide retirement security for Carpenters who earn their

living over a major portion of their working years for work in Covered Employment. For this

reason, the Plan requires reasonable continuity of service.

If you leave Covered Employment before you are Vested as previously described, you can lose all

of your Plan benefits, your Pension Credit and your Vesting Service, if you incur a Permanent Break

in Service.

There are provisions for repairing a One Year or Permanent Break in Service (described in

“Reinstatement of Credit after a Permanent Break in Service” in this Section, below). Even when

a Permanent Break in Service has been incurred, it may be possible to restore lost Credits if certain

requirements are met.

The rules on what constitutes a Break in Service and how to prevent a Break from becoming

permanent have been revised from time to time, based on changing conditions in the industry,

federal laws and other factors. A brief summary of the rules at various times follows.

One Year Break in Service

Since January 1, 1976, you incur a One Year Break in Service during any calendar year in which

you earn fewer than 500 Hours of Service. In addition to preventing you from increasing the

amount of your Pension, multiple One Year Breaks in Service can adversely affect your Pension. A

One Year Break in Service can be repaired if you earn 1,000 or more Hours of Service in a

subsequent calendar year. Even if you have a succession of One Year Breaks in Service, if you do

not incur a Permanent Break in Service (discussed below), you can repair a string of One Year

Breaks in Service by one calendar year in which you have at least 1,000 Hours of Service.

“Hours of Service” which are counted toward meeting these requirements are generally the same

as the Hours of Service previously described under Vesting Service Credit. Beginning January 1,

1987, you will also receive credit for up to 501 Hours of Service, for purposes of avoiding a Break

in Service only if you are absent from Covered Employment on account of parental leave.

However, you do not earn Hours Worked in Covered Employment or Pension Credit for such

parental leave Hours of Service.

If you have fewer than 500 Hours of Service in a calendar year, please notify the Administrative

Office of periods when you have continuous work with the same employer in a job not covered

by the Plan, you are disabled, or if you have other paid non-work periods which may be counted

to avoid a One Year Break in Service.

SECTION 5 – BREAKS IN SERVICE

Permanent Breaks in Service

Since January 1, 1987, a Permanent Break in Service results from incurring at least five

consecutive One Year Breaks in Service and the number of One Year Breaks in Service equals or

exceeds the number of Vesting Service Credits Earned.

Here’s an example of how a Permanent Break in Service can occur after January 1, 1987:

1. You have earned four Vesting Service Credits;

2. You then incur five successive One Year Breaks in Service (because in each of those

calendar years you did not earn at least 500 Hours of Service).

Because you have at least five One Year Breaks in Service and the number of your One Year Breaks

in Service exceeds the four Vesting Service Credits you have accrued, you suffer a Permanent

Break in Service.

For the definition of Permanent Break in Service for periods prior to 1987, please contact the

Administrative Office.

Reinstatement of Credit after a Permanent Break in Service

If you earn at least one year of Future Service Credit and then incur a Permanent Break in Service,

you can restore the Pension Credit and Vesting Service lost due to that particular Permanent Break

in Service by earning thereafter at least five Future Service Credits (without an intervening

Permanent Break in Service). The Pension benefit payable for the reinstated Pension Credit will

be calculated based on the benefit rate scale in effect at the time of your Separation from Service

(see Section 6).

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Pension Credits that you earn and retain as described in Sections 3 and 5 are used to determine a

monthly Pension amount. This basic monthly amount is called your Normal Pension. The actual

amount of your Pension may be adjusted based on when you retire, the type of Pension, and the

option you elect at retirement. The hours you work in Covered Employment each calendar year

are the main determinant of the pension benefit you earn each year.

Amount of Normal Pension Earned After 2020

Service beginning on January 1, 2021. A Participant’s monthly amount of Normal Pension earned

during calendar years beginning with 2021 varies depending on the number of Hours Worked in

Covered Employment and the rate of contribution paid on those hours.

The first step is to locate in the table below the bracket in which the number of your Hours Worked

in Covered Employment in the calendar year falls and identify the corresponding Benefit Accrual

Rate.

Table of Monthly Benefits Accrued in Plan Years After 2020

Benefit Accrual Rate Table

Hours Worked in

Covered Employment

During Calendar Year

Benefit Accrual

Rate

Under 700 None

700-799 $77.78

800-899 88.89

900

999

100.00

1,000-1,099 111.11

1,100-1,199 122.22

1,200-1,299 133.33

1,300

1,399

144.44

1,400-1,499 155.56

1,500-1,599 166.67

1,600

1,699

177.78

1,700-1,799 188.89

1,800-1,899 200.00

1,900-1,999 211.11

2,000

2,099

222.22

2,100-2,199 233.33

2,200 or more 244.44

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Your actual average hourly contribution rate for each calendar year is the total dollar amount of

employer contributions owed for your work in Covered Employment divided by the number of

hours you worked in Covered Employment during each given calendar year. The second step in

determining your pension benefit accrual for the calendar year is to find the Average Contribution

Rate and the Benefit Factor in the Benefit Factor Table below which applies to your actual average

hourly contribution rate in the calendar year. This is done by finding the Average Contribution

Rate which your actual average hourly contribution equals or exceeds, without equaling or

exceeding the next higher Average Contribution Rate.

Benefit Factor Table

Average

Contribution Rate Benefit Factor

$0.00-0.99 0.0000

1.00-1.24 .2000

1.25-1.49 .2500

1.50

1.74

.3000

1.75-1.99 .3500

2.00-2.24 .4000

2.25-2.49 .4500

2.50

2.74

.5000

2.75-2.99 .5500

3.00-3.24 .6000

3.25

3.49

.6500

3.50-3.74 .7000

3.75-3.99 .7500

4.00-4.24 .8000

4.25

4.49

.8500

4.50-4.74 .9000

4.75-4.99 .9500

$5.00 or more

1.0000

The final step in determining your monthly pension benefit accrual for the calendar year is to

multiply your Benefit Accrual Rate by your Benefit Factor.

Service January 1, 2015 to December 31, 2020. A Participant’s monthly amount of Normal

Pension earned during calendar years 2015 through 2020 varies depending on the number of

Hours Worked in Covered Employment and the average rate of contribution paid on those hours.

Similar to the subsection above, the first step is to locate in the table below, the bracket in which

the number of your Hours Worked in Covered Employment in the calendar belongs and identify

the corresponding Benefit Accrual Rate.

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Table of Monthly Benefits Accrued During Plan Years 2015-2020

Benefit Accrual Rate Table

Hours in

Covered

Employment

Monthly Benefit

Accrual During

Calendar Years

2015-2020

Under 700

$0.00

700

799

$38.99

800

899

$44.56

900-999 $50.00

1,000

1,099

$55.69

1,100-1,199 $61.26

1,200-1,299 $66.81

1,300

1,399

$72.39

1,400-1,499 $77.96

1,500-1,599 $83.53

1,600-1,699 $89.09

1,700

1,799

$94.66

1,800 $100.00

The next step is to determine your actual average hourly contribution rate for a calendar year

commencing in the years 2015 through 2020 by dividing the total dollar amount of employer

contributions owed for your work in Covered Employment by the number of hours you worked in

Covered Employment during each calendar year. Find the Average Contribution Rate in the

Benefit Factor Table below which your actual average hourly contribution equals or exceeds,

without equaling or exceeding the next higher Average Contribution Rate.

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Benefit Factor Table

Average

Contribution Rate Benefit Factor

$1.00 .2500

1.25

.3125

1.50 .3750

1.75 .4375

2.00

.5000

2.25 .5625

2.50 .6250

2.75 .6875

3.00

.7500

3.25 .8125

3.50 .8750

3.75 .9375

4.00 1.0000

Over $4.00

1.0000

The final step is to multiply your Benefit Factor by your Benefit Accrual Rate.

Service January 1, 2011 to December 31, 2014. A Participant’s monthly amount of Normal

Pension earned during calendar years from 2011 through 2014 will be equal to $100 for each

calendar year in which the Participant has 1800 or more Hours Worked in Covered Employment.

If you have fewer than 1800 Hours Worked in Covered Employment in a calendar year during this

period, the amount earned will be reduced as demonstrated in the rate table on page 35.

Retroactive Benefit Accrual Increase 2011-2020

Benefit accruals have been increased retroactively by 50% for years 2011 through 2020, for

Participants who were credited at least 1,000 Hours of Covered Employment and accrued Pension

Credit under the Southwest Carpenters Pension Plan during 2020. Participants who worked in

Covered Employment under the Nevada In-House Hospitality Collective Bargaining Agreement

will also qualify for the retroactive increase if they worked at least 1,000 hours in either 2020 or

2021.

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Hours in

Covered

Employment

Monthly Benefit

Accrual During

Calendar Years

2011-2020

50% increase

(only if more than

1,000 hours

credited in 2020)*

Revised Benefit

Accrual (2011 –

2020 accrual plus

50% increase)*

700

799

$38.99

$19.50

$58.49

800-899 $44.56 $22.28 $66.84

900-999 $50.00 $25.00 $75.00

1,000-1,099 $55.69 $27.85 $83.54

1,100

1,199

$61.26

$30.63

$91.89

1,200-1,299 $66.81 $33.41 $100.22

1,300-1,399 $72.39 $36.20 $108.59

1,400-1,499 $77.96 $38.98 $116.94

1,500-1,599 $83.53 $41.77 $125.30

1,600-1,699 $89.09 $44.55 $133.64

1,700-1,799 $94.66 $47.33 $141.99

1,800

$100.00

$50.00

$150.00

 These columns apply only when the Participant was credited with at least

1,000 Hours of Covered Employment in the 2020 calendar year.

Example 1: Jake works 900 Hours of Covered Employment in 2020 at an actual average hourly

rate of $3.20 per hour. Therefore, his Average Contribution Rate from the table is $3.00, with the

result that his Benefit Factor is .7500. Because Jake worked 900 hours, his Benefit Accrual Rate

under the second table above is $50.00. The monthly pension benefit accrued by Jake in 2020 is

$37.50 ($50.00 Benefit Accrual Rate x .7500 Benefit Factor = $37.50). Under the benefit formula

in effect from 2011 through 2014, Jake would have accrued $66.81 for the year. He would not

qualify for Revised Benefit Accrual for years 2011 through 2020 because he worked less than 1,000

hours in 2020.

Example 2: Rudy works 1,600 Hours of Covered Employment in 2020 at an actual average hourly

rate of $3.50 per hour which is therefore his Average Contribution Rate under the first table

above. The benefit accrued by Rudy in 2020 would have been $77.95 ($89.09 x .875 = $77.95)

before considering his hours in 2020. Because he worked at least 1,000 hours in 2020, he qualifies

for the extra 50% accrual. Using the results for 1,600 hours from the table, his benefit accrual is

$116.94 ($133.64 x .875 = $116.94).

Example 3: Rafael works 1,450 Hours of Covered Employment in 2020 at an average rate of $4.00

per hour. The benefit accrued by Rafael in 2020 would have been $77.96 ($77.96 x 1.00 = $77.96)

before considering his hours in 2020. Because he worked at least 1,000 hours in 2020, he qualifies

for the extra 50% accrual. Using the results for 1,450 hours from the table, his benefit accrual is

$116.94 ($116.94 x 1.00 = $116.94).

Example 4: Before 2020 Paul works under a contract and has hourly contributions of $3.76 paid

to the Pension Plan and $5.20 per hour is contributed to the Health & Welfare Plan by Paul’s

employer. Beginning with hours worked in 2020, the terms of the contract provides that

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

contributions can be redirected from the Pension Plan to the Health & Welfare Plan to ensure

that a contribution rate of $6.10 per hour goes to the Health & Welfare Plan. Thus, beginning

January 1, 2020, $0.90 will be moved from Pension to Health and the hourly rate paid to Pension

is reduced from $3.76 to $2.86 for Paul. The pension benefit earned for a year of 1,800 hours

worked at an hourly rate of $2.86 is $103.13 (.6875 x $150.00) instead of $140.63 (.9375 x

$150.00).

Amount of Normal Pension Earned From 1991 through 2010

1. Service from 2008 through 2010. A Participant’s monthly amount of Normal Pension

earned during calendar years from 2008 through 2010 will be equal to $100 for each

calendar year in which the Participant has 1800 or more Hours Worked in Covered

Employment. If you have fewer than 1800 Hours Worked in Covered Employment in a

calendar year during this period, the amount earned will be reduced as demonstrated

below in the rate table on page 35, shown under the $100 scale.

2. Service in 2007. A Participant’s monthly amount of Normal Pension earned during the

2007 calendar year will be equal to $205 for 1800 Hours Worked in Covered

Employment. If you have fewer than 1800 Hours Worked in Covered Employment, the

amount earned will be reduced as shown in the $205 scale in the rate table on page 35.

3. Service from 1999 through 2006. A Participant’s monthly amount of Normal Pension

earned during calendar years from 1999 through 2006 will be equal to $200 for each

calendar year in which the Participant has 1800 or more Hours Worked in Covered

Employment. If you have fewer than 1800 Hours Worked in Covered Employment in a

calendar year during this period, the amount earned will be reduced as demonstrated

on the rate table on page 35, shown under the $200 scale.

4. Service from 1996 through 1998. Your monthly amount of Normal Pension earned

during calendar years from 1996 through 1998 will be equal to $100 or $200 for each

calendar year in which you have 1800 or more Hours Worked in Covered Employment.

If you have fewer than 1800 Hours Worked in Covered Employment in a calendar year

during this period, the amount earned is reduced as shown in the rate table on page 35

under the $100 scale or $200 scale depending on the scale for which you are eligible.

To be eligible for the $200 scale, you must meet the same requirements as stated in

(5)(a) and (5)(b) below for eligibility for the $200 scale for 1991-95 service.

5. Service from 1991 through 1995. Your monthly amount of Normal Pension earned

during each calendar year from 1991 through 1995 will be equal to either $70 or $200

for each calendar year in which you have 1800 or more Hours Worked in Covered

Employment. If you have fewer than 1800 Hours Worked in Covered Employment in a

calendar year during this period, the amount earned is reduced as demonstrated on the

rate table on page 39, shown under the $70 scale or $200 scale depending on the scale

for which you are eligible. The $70 scale will apply to you unless you are eligible for the

$200 scale. To be eligible for the $200 scale, you must meet the requirements of both

(a) and (b) below:

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Either you had at least 700 Hours Worked in Covered Employment during 1996,

or you had at least 700 Hours Worked in Covered Employment during 1997.

AND

Either your Pension effective date was during the first six months of 1998, or you

had at least 350 Hours Worked in Covered Employment during the last six

months of 1998. For Annuity Starting Dates on and after January 1, 2008, the

350 Hours requirement may be satisfied with hours worked during the period

from July 1, 1998 through December 31, 1998 that were recognized as covered

hours under the Pension Plan for the Construction Industry and Carpenters Joint

Pension Trust for Southern Nevada (“Southern Nevada Plan”).

Hours worked requiring contributions at less than the rate then applicable under the Master Labor

Agreement, or, for hours worked after 2014, other than as specified above in the section on

“Service January 1, 2015 to December 31, 2020,” including hours worked not requiring a

contribution, such as hours worked under the Residential Contractors Association Agreement, are

not Hours Worked in Covered Employment and do not count toward satisfying the preceding

requirements.

Table of Monthly Benefits Accrued

During Plan Years Between 1999 and 2014

Hours Worked

During Plan

Year

Monthly Benefit Accrual During Plan Years

Between

1999

and 2014

1999-2006 2007 2008-2014

Under 700

None

700 -799 $77.78 $79.72 $38.99

800 -899 88.89 91.11 44.506

900 -999 100.00 102.50 50.00

1,000 -1,099 111.11 113.89 55.69

1,100 -1,199 122.22 125.28 61.26

1,200 -1,299 133.33 136.67 66.81

1,300 -1,399 144.44 148.06 72.39

1,400 -1,499 155.56 159.44 77.96

1,500 -1,599 166.67 170.83 83.53

1,600 -1,699 177.78 182.22 89.09

1,700 -1,799 188.89 193.61 94.66

1,800 and over 200.00 205.00 100.00

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Amount of Normal Pension Earned Before 1990

Your amount of Normal Pension earned in calendar years between 1976 and 1990 was expressed

in terms of Pension Credit (Past and Future Service) as follows (see Section 1 for the Hours Worked

in Covered Employment that were necessary to earn such Past and Future Service Credit):

Service from 1979 through 1990

Your monthly amount of Normal Pension earned during each of the calendar years from 1979

through 1990 will be equal to between $30.85 and $47.00 for each calendar year in which you

have 1800 or more Hours Worked in Covered Employment as shown in the rate table on page 38.

Service from 1976 through 1978

$2.33 for each 1/12 of Future Service Credit earned in calendar years 1976-78. If you experienced

a Separation from Service, or had an Annuity Starting Date during the period November 1, 1977

through December 31, 1978, the $2.33 above is reduced to $2.00.

Service Prior to 1976

Pre-1976 credits are earned on a per-quarter basis and are subject to the highest rate available

that precedes the earlier of either your Annuity Starting Date or your Separation from Service.

For most participants who had Covered Employment after July 31, 1981, the rate is $7.00 for each

quarter of Future Service Credit earned before January 1, 1976. For Participants who either

experienced a Separation from Service, or had an Annuity Starting Date before July 31, 1981, the

rates shown below apply.

Separation or Annuity

Starting Date

Pension Value

Per Quarter (Per Year)

Maximum Monthly

Benefit

11/1/77 to 7/31/81 $6.00 ($24.00) No Maximum

8/1/76 to 10/31/77 5.00 (20.00) $600.00

1/1/75 to 7/31/76 4.42 (17.66) 530.00

7/1/73 to 12/31/74 4.08 (16.33) 490.00

7/1/72 to 6/30/73 3.75 (15.00) 450.00

7/1/71 to 6/30/72 3.60 (14.40) 360.00

7/1/70 to 6/30/71 2.80 (11.20) 280.00

7/1/69 to 6/30/70 2.53 (10.10) 252.50

9/1/68 to 6/30/69 2.05 (8.20) 205.00

5/1/66 to 8/30/68 1.81 (7.25) 181.50

9/1/65 to 4/30/66 1.50 (6.00) 150.00

Prior to 9/1/65 1.06 (4.25) 106.50

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Past Service Credit

Past Service Credit values are subject to the rates shown in the above table except for the period

November 1, 1977 to July 31, 1981, because the maximum value for a Past Service Credit is $5.00

per quarter ($20.00 per year).

Separation from Service

A prolonged period in which you did not earn Hours Worked in Covered Employment and,

therefore, Pension Credit, can result in a lower benefit even if the absence does not result in the

cancellation of previously earned Pension Credits or Vesting Service Credits. This can happen if

you incur a Separation from Service or restore Credits previously lost to a Permanent Break in

Service.

Before January 1, 1976, you have a Separation from Service if you failed to earn at least one

quarter of Future Service Credit in any period of three consecutive calendar years. Beginning

January 1, 1976, you incur a Separation from Service if you have three consecutive One-Year

Breaks in Service (a calendar year in which you work fewer than 500 Hours of Service). For this

purpose, a Separation from Service occurs at the end of the third consecutive year. Also, Break

years are considered consecutive unless they are separated by a calendar year in which you earn

at least 1,000 Hours of Service. A Plan Year in which you have from 500 to 999 Hours of Service is

a “null year” that will not add to a string of consecutive One-Year Breaks, but also will not end a

string of consecutive One-Year Breaks.

If you incur a Separation from Service, your Pension benefit will be calculated based on the benefit

rates in effect when the Separation(s) occurs instead of the rates in effect when you retire.

Similarly, Credits restored after a Permanent Break in Service will be calculated at the rate in effect

at the time of the Separation. If you return to Covered Employment after the Separation from

Service or Break in Service, any additional Pension Credit earned will be determined at the rate in

effect at retirement (or a subsequent Separation).

Multiple Rate Scales

Prior to 1999, it was possible for two different Participants who had hours in the same given year

to have different pension value rates for that year. This is because the date a Participant last

worked in Covered Employment determines the applicable pension rates (as discussed in

Separation from Service, above).

Beginning in 1999, the Trust has had only one rate scale available to all Participants. For example,

any hours worked in 2004 are subject to the $200 scale, regardless of whether the last day of

Covered Employment was in 2004, or at a later date.

The charts shown on the next two pages demonstrate the different rates applicable to hours

worked from January 1, 1976 through December 31, 1998.

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Rate Scale for Service 1976 through 1986

Hours Worked in

Employment in a

Calendar Year

(Minimum

300 Hours)

Covered Period Within Which Annuity Starting Date or

Separation from Service Occurs

1976-78*

01/01/79-

08/31/79

09/01/79-

07/31/81

08/01/81-

12/31/86

300 6.00 7.00 5.15 6.00 7.00

400 8.00 9.33 6.85 8.00 9.33

500 10.00 11.67 8.55 10.00 11.66

600 12.00 14.00 10.30 12.00 14.00

700 14.00 16.33 12.00 14.00 16.33

800 16.00 18.67 13.70 16.00 18.66

900 18.00 21.00 15.40 18.00 21.00

1,000 20.00 23.33 17.10 20.00 23.33

1,100 22.00 25.63 18.85 22.00 25.66

1,200 24.00 28.00 20.55 24.00 28.00

1,300 24.00 28.00 22.25 26.00 30.33

1,400 24.00 28.00 24.00 28.00 32.66

1,500 24.00 28.00 25.70 30.00 35.00

1,600 24.00 28.00 27.40 32.00 37.33

1,700 24.00 28.00 29.10 34.00 39.66

1,800 and

over

24.00 28.00 30.85 36.00 42.00

 If you had a Separation or an Annuity Starting Date prior to January 1, 1979,

your hours for this period are subject to the $24.00 scale. Otherwise, the

hours are subject to the $28.00 scale. The maximum scale for hours earned

before 1979 is $28.00.

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Rate Scale for Service 1987 through 1998

Hours

Worked in

Covered

Employment

in a Calendar

Year

(Minimum

700 Hours)

Period Within Which Annuity

Starting Date or Separation

from Service Occurs

*See note below

01/01/87-

12/31/87

01/01/88-

12/31/89

01/01/90-

12/31/90

01/01/91-

12/31/95*

01/01/96-

12/31/98*

01/01/91-

12/31/98*

300

0.00

400

0.00

500

0.00

600

0.00

700

16.33

17.15

18.32

27.29

38.99

77.78

800

18.66

19.60

20.94

31.19

44.56

88.89

900

21.00

22.00

23.50

35.00

50.00

100.00

1,000

23.33

24.50

26.17

38.98

55.69

111.11

1,100

25.66

26.95

28.79

42.88

61.26

122.22

1,200

28.00

29.40

31.40

46.77

66.81

133.33

1,300

30.33

31.85

34.02

50.67

72.39

144.44

1,400

32.66

34.30

36.64

54.57

77.96

155.56

1,500

35.00

36.75

39.26

58.47

83.53

166.67

1,600

37.33

39.20

41.87

62.36

89.09

177.78

1,700

39.66

41.65

44.49

66.26

94.66

188.89

1,800 and

over

42.00 44.00 47.00 70.00 100.00 200.00

 Eligibility for $200 scale requires at least 700 Hours of Covered Employment in

1996 or 1997 and either retirement in the first six months of 1998 or at least

350 hours in the second six months of 1998. Otherwise, the scale is based upon

$70 for 1991-95 and $100 for 1996-98 for 1,800 or more hours.

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

A Normal Pension Example:

As an example, let’s say Joe retires at age 65 on January 1, 2022 at which time he had 25.83 Years

of Pension Credit.

His monthly Normal Pension would be calculated as follows:

Credited

Service

Year

Hours

Pension Credit

Annual/Cumulative

Vesting Credit

Annual/Cumulative

Contribution

Benefit

Rate

Factor

Pension Value

Annual/Cumulative

1996

1821

1.00

n/a

$200.00

1997

1873

1.00

2.00

1.00

2.00

n/a

$200.00

$400.00

1998

1983

1.00

3.00

1.00

3.00

n/a

$200.00

$600.00

1999

2020

1.00

4.00

1.00

4.00

n/a

$200.00

$800.00

2000

1100

1.00

5.00

1.00

5.00

n/a

122.22

922.22

2001

000

5.83

1.00

6.00

n/a

111.11

$1,

033.3

2002

1933

1.00

6.83

1.00

7.00

n/a

$200.00

$1,

233.33

2003

1554

1.00

7.83

1.00

8.00

n/a

$166.67

$1,

400.00

2004

1741

1.00

8.83

1.00

9.00

n/a

$188.89

,588.89

2005

1773

1.00

9.83

1.00

10.00

n/a

$188.89

$1,

777.78

2006

1329

1.00

11.00

n/a

$144.44

1,922.22

2007

1880

1.00

12.00

n/a

205

.00

$2,

127.22

2008

1991

1.00

13.00

n/a

$100.00

$2,

227.22

2009

1873

1.00

14.00

n/a

$100.00

,327.22

2010

1903

1.00

15.00

n/a

$100.00

$2,

427.22

2011

1852

1.00

16.00

n/a

0.00

$2,

527.22

2012

1867

1.00

6.83

1.00

17.00

n/a

0.00

$2,7

27.22

2013

1899

1.00

18.00

n/a

0.00

$2,8

77.22

2014

1823

1.00

8.83

1.00

19.00

n/a

0.00

3,027.22

2015

1552

1.00

19.83

1.00

20.00

$3.00

.75

93.97

121.19

2016

1015

1.00

20.83

1.00

21.00

$4.00

1.00

83.54

$3,

204.73

2017

1890

1.00

21.83

1.00

22.00

$4.00

1.00

150.00

$3,354.73

2018

1812

1.00

22.83

1.00

23.00

$4.00

1.00

150.00

$3,504.73

2019

1760

1.00

23.83

1.00

24.00

$4.

1.00

$141.99

$3,

646.72

2020

2000

1.00

24.83

1.00

25.00

$4.

1.00

$150.00

$3,796.72

2021

1100

1.00

25.83

1.00

26.00

$5.11

1.00

$122.22

$3,918.94

Joe’s Normal Pension amount is $3,918.94.

Note that for the years after 2014, Joe’s annual pension value is determined by the amount of

hours he worked as well as his contribution rate. In addition, because Joe worked more than 1,000

hours in 2020, his maximum pension benefit is $150.00 per month for 2011-2020. Had he not

worked 1,000 hours in 2020, his maximum pension benefit would have been $100.00 for those

years. Please reference the Benefit Factor Table on page 29 for more details.

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Adjustments and Conditions which Affect Normal Pension Amount

Delayed Retirement

If your Annuity Starting Date (the effective date of your Pension) is after Normal Retirement Age

(see Section 4, “Vesting”), your Pension may be calculated differently. You will receive the greater

of:

1. The benefit payable at actual retirement calculated as previously described; or

2. The benefit you would have received if you retired at Normal Retirement Age (based on

the credit accrued and the rates in effect at that time) actuarially increased for each

month after that date in which your benefits were not subject to suspension.

The actuarial increase will be 1% per month for the first 60 months after Normal Retirement Age

and 1.5% for each month thereafter.

If You are Age 65 and Do Not Apply for Benefits

If you do not apply for benefits when you reach age 65, your Pension payments will be suspended

for every month after age 65 in which you work more than 40 hours in Prohibited Employment.

See Section 9, “Suspension of Pension Payments.” You will continue to accrue Pension Credit

based on the hours you work in Covered Employment. When you retire your Pension will be

calculated as the greater of the amounts yielded by the two methods discussed above.

Please note: you must commence your accrued vested pension benefits by no later than your

Required Beginning Date even if you are still working (See Section 14 “Your Rights under the

Employee Retirement Security Act of 1974”).

Example: Let’s assume that instead of retiring at age 65 as in the example above, Joe decides to

delay his retirement until January 1, 2024, when he is age 67. Between age 65 and age 67, he

worked more than 40 hours in prohibited employment in each of 10 months as follows:

2022 Hours 2023 Hours

January 160 February 160

March 140 March 200

April 160 April 160

October 160 November 140

November 160 December 140

Total Hours 780 Total Hours 800

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Assuming that the rate of contributions paid on these hours is at least $5.00, the value of the

additional benefits earned by Joe in 2022 is $77.78 ($77.78 Benefit Accrual Rate x 1.0 Benefit

Factor = $77.78). The value earned by Joe in 2023 is $88.89 ($88.89 Benefit Accrual Rate x 1.0

Benefit Factor = $88.89). Since Joe’s Pension is effective after Normal Retirement Age, he will

receive the greater of:

1. His benefit under the Plan’s formula counting all his Pension Credit: $3,918.94 (see

example on page 40) + $77.78 (2022) + $88.89 (2023) = $4,085.61

2. The benefit he would have received at age 65, increased 1% for each month between

normal retirement age and the effective date of his Pension in which he worked fewer

than 40 hours (14 months): $3,918.94 x 1.14 (14 months x 1%) = $4,467.59

Joe’s benefit when he retires on January 1, 2024 will be $4,467.59.

Note: Joe’s benefit is not actuarially increased for work in the 10 months after attaining Normal

Retirement Age in which he worked more than 40 hours in prohibited employment (see Section

9, “Suspension of Pension Payments”). This is because the actuarial adjustment for delayed

retirement is not applied to months in which benefits are subject to suspension.

Early Retirement

If you are younger than age 62 (age 65 for benefits earned on or after January 1, 2011) when you

retire, your monthly benefit under the Early Retirement Pension will be reduced, since you are

retiring at an earlier age and will likely receive Pension benefits over a longer period. If you retire

on a Regular or Vested Pension and earned all of your benefits before January 1, 2011, there is no

reduction in your monthly benefit, and you will receive the same amount as you would receive

under a Normal Pension at age 65.

To determine what your monthly payment would be at Early Retirement, multiply the amount

you would receive as a Normal Pension by the percentage shown for your age at your last birthday

before the Annuity Starting Date (effective date) of your Pension. The percentage is then

increased 1/4 of 1% for each month the Annuity Starting Date is past your birthday.

For benefits earned before January 1, 2011, the first step is to calculate the amount you would

receive on a Normal Pension at age 62. This amount payable as a Normal Pension will be reduced

1/4 of 1% for each month you are younger than age 62 on the Annuity Starting Date (effective

date) of your Early Retirement Pension, as shown in the following table:

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Table of Early Retirement Reduction Factors

Benefits Accrued Before January 1, 2011

(Table 1)

Age on Annuity Starting Date

of Pension

Percentage of Normal Pension

55 79%

56 82%

57 85%

58 88%

59 91%

60 94%

61 97%

Example:

Assume that you worked twelve (12) years, six (6) before 2011 and six (6) after 2010 and that you

have earned the maximum benefit of $100 in each year. If you decide to retire at age 59 and

three months, your benefit will be calculated as follows:

For your benefits earned prior to January 1, 2011, you will be eligible for a Normal Pension of $600

per month if you retired at age 62. Because you decide to retire three months after your 59th

birthday, the amount of your Early Retirement Pension is reduced based on the table above. The

benefit percentage payable at age 59 is 91%. This percentage is increased by .25% for each of the

three months you are older than age 59, or 91.75%. The monthly amount payable is then

multiplied by this percentage to determine the amount of your Early Retirement Pension, or

91.75% x $600 = $550.50.

For all benefits earned after January 1, 2011, calculate the amount you will receive on a Normal

Pension at age 65. The amount payable as a Normal Pension will be reduced 1/4 of 1% for each

month you are younger than age 65 on the Annuity Starting Date (effective date) of your Early

Retirement Pension, as shown in the following table:

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Table of Early Retirement Reduction Factors

Benefits Accrued After January 1, 2011

(Table 2)

Age on Annuity Starting Date of Pension Percentage of Normal Pension

55 70%

56 73%

57 76%

58 79%

59 82%

60 85%

61 88%

62 91%

63 94%

64 97%

For your benefits earned after January 1, 2011, you will be eligible for a Normal Pension of $600

per month if you retire at age 65. Because you decide to retire three months after your 59th

birthday, the amount of your Early Retirement Pension is reduced based on the table above. The

benefit percentage payable at age 59 is 82%. This percentage is increased by .25% for each of the

three months you are older than age 59, or 82.75%. The monthly amount payable is then

multiplied by this percentage to determine the amount of your Early Retirement Pension, or

82.75% x $600 = $496.50.

Once you have calculated your pre-January 1, 2011 Pension benefit ($550.50) that will be added

to your post January 1, 2011 Pension benefit ($496.50) to give you your total monthly Pension

benefit ($550.50 + $496.50 = $1,047.00).

Early

Retirement = +

Pension

Note: This gives you your “basic benefit” amount for your lifetime (36 months guaranteed) which

may be further adjusted to reflect another alternative form of payment you elect, such as a

payment for your life and that of your spouse or other beneficiary. Forms of payment are

described in more detail in Section 8 “Forms of Payment”.

For benefits earned prior to January 1,

2011, amount you would receive on a

Normal Pension at age 62 x Early

Retirement Reduction Factors in Table 1

For benefits earned after January 1,

2011, amount you would receive on a

Normal Pension at age 65 x Early

Retirement Reduction Factors in Table 2

SECTION 6 – AMOUNT OF YOUR NORMAL PENSION

Service Pension

To qualify for the Service Pension described in Section 7, “Types of Pension,” you simply need 30

years of accumulated Pension Credit (at any age).

Effective January 1, 2021, for purposes of satisfying the 30 years of Pension Credit condition for a

Service Pension, Participants who work in excess of 1,800 Hours Worked in Covered Employment

in a calendar year will be credited with an additional 1/12th of a Pension Credit for each 100 hours

above 1,800 up to a maximum of 2,200 hours, as shown in the table below.

Service Pension Eligibility Credit Earned for years 2011 and Later

Hours Worked in Covered Employment

in a Calendar Year

Service Pension Eligibility Credit Earned

in the Calendar Year

Fewer than 300 hours None

300

399

3/12 Year

400

499

4/12 Year

500

599

5/12 Year

600

699

6/12 Year

700

799

7/12 Year

800

899

8/12 Year

900

999

9/12 Year

1000 - 1099 10/12 Year

1100

1199

11/12 Year

1200

1899

One Year

1900

1999

1/12 Year

2000 - 2099 1- 2/12 Year

2100

2199

3/12 Year

2200 and over 1- 4/12 Year

The preceding table will also be applied retroactively to each of the ten years from 2011 through

2020 for Participants who were credited with 1,000 Hours Worked in Covered Employment in

2020, or Participants employed under the Nevada In-House Hospitality Collective Bargaining

Agreement who were credited with the 1,000 Hours Worked in Covered Employment in either

2020 or 2021, and accrued Pension Credit in 2020. Otherwise, Service Pension Eligibility Credit is

equal to the Pension Credit for those years, with a maximum credit of 1.0 each year.

The benefit payable under a Service Pension is the same amount which would have been payable

if you retired on a Normal Pension at age 65. There is no reduction in the amount for age.

SECTION 7 – TYPES OF PENSION

To provide you retirement flexibility, the Plan provides several types of Pensions, each with its

own requirements for qualification. The following table summarizes the requirements for each

type of Pension.

Requirements to Qualify for Each Type of Pension

Type

Required

Vesting

Service Credit

Required

Pension Credit

Age

Requirement

When

Payable

Related Plan

Credit Can Be

Applied

Normal 5, including

service on or

after 1/1/99

None 65 No*

Vested 10 None 62** No

Regular None 10 62** Yes

Early Retirement None 10 55 through

64**

Yes

Service None 30 None No*

 However, if the Related Plan credits are allowed for purposes of Unilateral Reciprocity,

they can be applied. See Section 11, “Reciprocity” for further details.

** A reduction for early commencement applies to all benefit accruals occurring on and

after January 1, 2011. Please refer to Section 6.

Normal Pension

You qualify for a Normal Pension at age 65 if you have earned five or more Vesting Service Credits

(including one Hour of Service on or after January 1, 1999) without a Permanent Break in Service.

For this purpose, Related Pension Credits earned under a Related Plan do not count toward the

five Vesting Service Credits needed to qualify for the Normal Pension.

An Active Participant aged 65 or older who had earned fewer than five Vesting Service Credits

may also qualify for a Normal Pension upon the fifth anniversary of Plan participation.

Vested Pension

You become eligible for a Vested Pension when you attain age 62 and have earned at least 10

Vesting Service Credits without a Permanent Break in Service, without any benefit accruals on or

after January 1, 2011.

SECTION 7 – TYPES OF PENSION

Regular Pension

You become eligible for a Regular Pension when you attain age 62 and have earned at least 10

Pension Credits without a Permanent Break in Service, without any benefit accruals on or after

January 1, 2011.

Early Retirement Pension

If you plan to retire before age 62, you may be able to retire on an Early Retirement Pension as

early as age 55 if you have earned at least 10 years of Pension Credit (including 500 hours of Future

Service Credit) without a Permanent Break in Service.

Pension benefits earned starting January 1, 2011 may be subject to reduction for early

commencement based on age 65. See Section 6 for details on how early commencement

reductions are applied.

If you have worked in Non-covered Employment (See Section 9 under “Non-covered

Employment”), the effective date of your Early Retirement Pension will be delayed unless you

have returned to Covered Employment for at least as long as you worked in Non-covered

Employment.

Early Retirement-Pensioners Qualifying for Supplemental Long Term Disability Benefits

If you are receiving an Early Retirement Pension under the Southwest Carpenters Pension Plan,

you may be entitled to the Supplemental Long Term Monthly Disability Benefit if you are granted

a Social Security Disability Award effective within 12 months of the date the Administrative Office

received the completed Early Retirement Pension application. You must apply for Long Term

Monthly Disability Benefits from the Southwest Carpenters Health and Welfare Trust within 90

days following the date of the Social Security Disability Award. Contact the Administrative Office

for the necessary application form.

Transitioning from Long Term Monthly Disability Benefits to Pension Benefits

If you are receiving Long Term Monthly Disability Benefits under the Southwest Carpenters Health and

Welfare Trust, and you satisfy any of the following conditions:

1. Attainment of Normal Retirement Age under the Southwest Carpenters Pension Plan

2. Attainment of the conditions for qualification for an unreduced Pension under the

Southwest Carpenters Pension Plan

3. Establishment of an Annuity Start Date for a Pension under the Southwest Carpenters

Pension Plan

Long Term Monthly Disability Benefits will cease upon any of the above events occurring. You must

contact the Administrative Office to apply for a pension benefit.

SECTION 7 – TYPES OF PENSION

For more information regarding eligibility and the amount of the Long Term Monthly Disability Benefit,

please refer to Chapter 10 of the Southwest Carpenters Health and Welfare Trust Summary Plan

Description.

Service Pension

You qualify for a Service Pension if you have earned at least 30 Southwest Plan Pension Credits.

You may qualify for additional Service Pension Eligibility Credit after 2010, which may allow you

to receive a Service Pension sooner (see Section 6). There is no age requirement to receive a

Service Pension. However, if you worked in Non-covered Employment, the effective date of your

Service Pension will be delayed unless you have returned to Covered Employment for at least as

long as you worked in Non-covered Employment.

Exceptions

Hours worked under the Residential Contractors Association Agreement after 1995, which are not

Hours Worked in Covered Employment, but which are required to be reported under the Plan,

and which were reported timely in a manner acceptable to the Administrative Office, are deemed

to count, on the same basis as though they were Hours Worked in Covered Employment, toward

the 30 Pension Credits requirement, but they do not count for purposes of determining the

amount of any Pension.

Credits earned under other pension plans typically do not count toward the 30 Pension Credits

requirement unless an exception applies. For example, Related Pension Credits from the

Carpenters Pension Trust for Northern California are counted for purposes of qualifying for a

Partial Service Pension. More details about Partial Service Pensions are in Section 11.

Pension Credits earned under another pension plan in a jurisdiction that later became part of the

jurisdiction of the Southwest Regional Council of Carpenters (Regional Credits) are counted for

purposes of qualifying for a Partial Service Pension.

SECTION 8 – FORMS OF PAYMENT

The Plan provides several forms of payment for Pensions. When you apply for a Pension, you may

elect to receive your benefits in one of the following forms of payment. Only one form of payment

may be chosen, and it cannot be changed once payments have begun.

The decision of how you want your retirement benefit to be paid is an important one. The

Administrative Office can provide estimates of your benefits under the available options so that

you can decide which method of payment works best for you.

Single Life Annuity

This is the normal form of payment for Plan participants who are not married when they retire.

The Single Life Annuity provides a monthly Pension to you for your lifetime with the guarantee

that if you die before receiving 36 monthly payments, the remainder of the 36 payments will be

paid to your designated beneficiary.

If you are married, the Single Life Annuity is available only if you and your spouse have rejected

the 50% Qualified Surviving Spouse Pension described below, as witnessed by a Notary Public or

Plan Representative.

50% Qualified Surviving Spouse Pension

This is the normal form of payment for married Plan participants.

The 50% Qualified Surviving Spouse Pension provides a monthly Pension to you for your lifetime

and, after your death, a lifetime Pension for your surviving spouse. The payments to your surviving

spouse will be equal to 50% of the amount you were receiving when you died.

For example, if you were receiving a monthly Pension of $1,000 when you die, your surviving

spouse will receive lifetime monthly payments of $500.

Because the 50% Qualified Surviving Spouse Pension extends protection over two lifetimes, the

benefit levels are reduced accordingly. During your lifetime, you will receive monthly benefits at

a lower level than you would receive under the Single Life Annuity form. The amount of reduction

depends on the difference in age between you and your spouse. If your spouse is much younger

than you, benefits will be reduced more than if you are both close to the same age or if your

spouse is older than you.

Here are the formulas:

If you are eligible for any type of Pension, your basic Normal Pension benefit will be reduced by

multiplying it by 88% minus .4% for each year your spouse is younger or plus .4% for each year

your spouse is older than you. The maximum percentage is 100%.

SECTION 8 – FORMS OF PAYMENT

Example: You are eligible for a Normal Pension in the form of the Single Life Annuity of $1,000

per month. You are 65 years old and your spouse is 60 years old. Since your spouse is 5 years

younger than you, you would multiply the 5 year age difference by .4% which equals 2%; then

subtract 2% from 88%, which equals 86%. Finally, multiply your monthly Pension amount of $1000

by 86%, which equals $860. This is the monthly amount of Pension you would receive for the rest

of your life under the 50% Qualified Surviving Spouse Pension. Upon your death, your surviving

spouse would receive 50% of that amount, or $430 for life.

If you are married when you retire, your Pension will be paid in the form of the 50% Qualified

Surviving Spouse Pension unless you and your spouse sign a notarized statement rejecting the

50% Qualified Surviving Spouse Pension and file it with the Administrative Office. A special form

is provided for this purpose. If you want to elect a different form of payment, you must notify the

Administrative Office before your Pension payments begin.

A rejection of the 50% Qualified Surviving Spouse Pension is valid for up to 180 days before

the effective date of your Pension. If there is a delay in the effective date of your Pension, a

new notarized rejection will be required.

Optional 75% Qualified Surviving Spouse Pension

If you retire on or after January 1, 2009 and you are legally married when you retire, you may

elect to receive your benefit in the form of an Optional 75% Qualified Surviving Spouse Pension if

you complete the forms required to reject the 50% Qualified Surviving Spouse Pension.

In exchange for continuing payments to your spouse, the amount of your own monthly payment

is actuarially reduced. Thus, the amount of the Optional 75% Qualified Surviving Spouse Pension

is 83.0% of the amount payable in the form of a Single Life Annuity. The 83.0% factor will be

increased by .5 percentage points for each year that your spouse is older than you (to a maximum

factor of 100%); or decreased by .5 percentage points for each year that your spouse is younger

than you.

Special Rules for the 50% or 75% Qualified Surviving Spouse Pension

1. The Qualified Surviving Spouse Pension only applies to the spouse who is legally married

to you at the time Pension payments start, and the Pension remains unchanged in the

event of a subsequent divorce.

2. Survivor benefits under the Qualified Surviving Spouse Pension will not be payable if

you and your spouse have been married for less than one year when you die.

3. Payments to your surviving spouse continue for life even if he or she remarries.

4. Your monthly payments under the Qualified Surviving Spouse Pension will be increased

to the amount payable on the Single Life Annuity described above if your spouse dies

first. If you file a copy of your spouse’s death certificate within 12 months of the date of

SECTION 8 – FORMS OF PAYMENT

death, the increased benefit will be effective the month following his or her death. If

the death certificate is filed later, your monthly payments will be increased effective the

month following the month in which the death certificate is received by the

Administrative Office. All payments will stop upon your death.

Domestic Relations Orders/Divorce Decrees

The Retirement Equity Act of 1984 provides that the Plan must recognize any Qualified Domestic

Relations Order and make payments as directed by the Order to any spouse, former spouse, child

or other dependent (called an “alternate payee”) of a Plan participant specified by the Order in

accordance with Plan rules. A Qualified Domestic Relations Order (QDRO) is a state domestic

relations order, such as a divorce decree, which creates or recognizes an alternate payee’s right

to, or assigns to an alternate payee the right to, receive all or a portion of the benefits payable to

a participant under the Plan and satisfies the requirements for a QDRO under federal law. Any

lawful judgment, decree, order, or property settlement agreement which has been entered into

pursuant to a court order may be a QDRO if it relates to the provision of child support, alimony

payments, or marital property of a spouse, child or other dependent of a Plan Participant and is

made pursuant to State domestic relations law.

The Trustees cannot recognize or honor a domestic relations order, such as a divorce decree which

attempts to divide a Pension, unless the order or decree contains certain information and

otherwise complies with federal law. The procedures followed by the Administrative Office for

determining if an Order satisfies the legal requirements for a QDRO are available upon request. If

you are contemplating a divorce or are a party to any other domestic relations action which may

involve your benefits under the Plan, you should contact the Administrative Office for additional

information before any such domestic relations order or decree is signed by the judge.

The Trustees have adopted formal procedures for the treatment of domestic relations orders

received by the Plan, and a copy of these procedures is available without charge from the

Administrative Office.

Joint and Survivor Option

If you are eligible for an Early Retirement, Regular Pension or Service Pension, you may elect to

receive your Pension benefits under the Joint and Survivor Option. The Joint and Survivor Option

provides a reduced monthly Pension to you for your lifetime, with 50% or 100% of your monthly

Pension continuing after your death for the lifetime of your beneficiary.

You may name anyone (including your spouse) as your beneficiary; however, federal regulations

may limit the amount of benefit payable under the 100% Joint and Survivor Option if your

beneficiary is younger than you. There are no such restrictions on the 50% Joint and Survivor

Option. If you are married, you and your spouse must reject the 50% Qualified Surviving Spouse

Pension and your spouse must consent to the election of the Joint and Survivor Option and the

beneficiary.

SECTION 8 – FORMS OF PAYMENT

Like the Qualified Surviving Spouse Pensions, your monthly benefit will be reduced under the Joint

and Survivor Option because benefits are provided over two lifetimes. The amount of the

reduction depends on the difference in age between you and your beneficiary and whether you

want payments to continue at 50% or 100% of your benefit.

Here are the formulas:

100% Joint and Survivor Option. Your basic Normal Pension benefit will be reduced for the 100%

Joint and Survivor Annuity by multiplying it by 80% minus .6% for each year your beneficiary is

younger or plus .6% for each year your beneficiary is older than you. The maximum percentage is

100%.

50% Joint and Survivor Option. Your basic Normal Pension benefit will be reduced for the 50%

Joint and Survivor Option by multiplying it by 89% minus .4% for each year your beneficiary is

younger or plus .4% for each year your beneficiary is older than you. The maximum percentage is

100%.

Special Rules for the 50% and 100% Joint and Survivor Option

You must elect the Joint and Survivor Option in writing on a form required by, and filed with, the

Administrative Office at least 24 months before it is to take effect. If your Pension is effective

before the end of the 24-month period, your Pension will be paid in the normal form until the 24

months have elapsed.

The Joint and Survivor Option will take effect only if you and your beneficiary are both alive on

the date it is effective. If you die before your pension begins and within the 24-month waiting

period, your Pension will be paid under the normal form. The normal form of benefit for

unmarried participants shall be a Single Life Annuity and for married participants shall be a 50%

Qualified Surviving Spouse Pension.

Pursuant to IRS rules, if your non-spouse beneficiary is more than 10 years younger than you, the

benefit payable to your beneficiary will be less than 100% of your benefit. Please contact the

Administrative Office for details.

Once elected, the Joint and Survivor Option may only be revoked by notifying the Administrative

Office, in writing, before the date the first payment is made. The revocation will be effective 24

months after it is received by the Administrative Office. If your Pension starts during the 24-month

period, benefits will be paid in the amount determined under the Option until the end of the 24-

month period.

Exception: The Option will be automatically revoked if your beneficiary dies before the Option is

effective. In that case, you may continue the Option if you name a new beneficiary within 90 days

after the death and notify the Administrative Office in writing.

SECTION 8 – FORMS OF PAYMENT

The Joint and Survivor Option is not payable if it would result in a monthly benefit of less than

$20.00 to you or your beneficiary. Also, your beneficiary will automatically be paid a lump sum

instead of the Joint and Survivor Option if the present value of the Joint and Survivor Option does

not exceed $5,000.

Level Income Option

The Level Income Option offers you a comparable total monthly income before and after the

earliest age you can collect Social Security benefits. If you retire on an Early Retirement Pension

or a Service Pension, with benefits accrued before January 1, 2014, and you are under the age of

62, the plan offers a Level Income Option form of monthly payment. This payment option is based

on an estimate of your Social Security Benefit payable at age 62 and will increase your monthly

pension benefit from the effective date of retirement until you reach age 62. Upon reaching age

62, your monthly pension benefit will be reduced to account for the monthly income expected

from Social Security.

To apply for this benefit, you must provide an estimate of your Social Security benefit amount

payable at age 62, which is available upon request from the Social Security Administration. Your

Level Income pension benefit will be reduced at age 62, regardless of when you officially

commence your Social Security benefits.

To select the Level Income Option, you (and your Spouse, if married) must waive all other forms

of payment, including the Qualified Surviving Spouse Pensions, and you must select this option

before the effective date of your retirement. You will not be able to make any changes once

payments begin under the Level Income Option.

In the event of your death, the Level Income Option may provide payment to your beneficiary if

your death occurs before the benefits paid equals the amount you would have received had you

elected the Single Life Annuity for 36 months.

Lump Sum Payment

If the actuarial present value of your benefit does not exceed $5,000 at the time of receipt of your

completed application, your benefit will be paid in one lump sum distribution as soon as

administratively feasible. The actuarial present value of your benefit is the current value of your

monthly annuity paid for your lifetime based on mortality and interest rate assumptions specified

in the Plan.

SECTION 8 – FORMS OF PAYMENT

SECTION 9 – SUSPENSION OF PENSION PAYMENTS

To continue receiving monthly Pension payments, and to avoid delays in the recommencement

of your monthly Pension payments, you must retire and refrain from the type of work which is

prohibited by the Plan. This consists of Prohibited Employment and Non-covered Employment.

Prohibited Employment

Working any hours in Prohibited Employment before Normal Retirement Age (generally age 65)

results in a suspension of your Pension benefit, while the rules are less restrictive after Normal

Retirement Age.

Prohibited Employment before Normal Retirement Age.

You cannot work in employment or activity in the building and construction industry if you are

younger than Normal Retirement Age (generally age 65). “Work” means working for someone

else or for yourself in your own business. Prohibited work includes, but is not limited to, the

following:

 all job site and off-site construction

 pre-fabrication and pre-cutting

 Training Fund personnel

 cabinet and shop work

 supervisory and labor relations

 expediting and maintenance work

 work for profit as a contractor

 work at any job covered by any building trades or industrial craft bargaining agreement,

or for the Southwest Regional Council of Carpenters or any of its affiliated Local Unions

 work for any labor organization

 work of the type now covered or which may be covered in the future under a collective

bargaining agreement between a labor organization making contributions to the Trust

and the OPEIU Locals 30 and 537

 Acting as a building inspector for a contractor. However, the portion of your benefits

earned prior to 2012 is still payable while you are working as a building inspector, and

the portion of your benefits earned on and after 2012 and before 2016 may still be paid

if your work as a building inspector is direct employment by a governmental agency.

Prohibited Employment after Normal Retirement Age and before April 1 Following Age 70-1/2

After Normal Retirement Age (generally age 65) and before the April 1 immediately following the

calendar year in which you attain age 70-1/2, your Pension will be suspended for any month in

which you work more than 40 hours in a calendar month in the same industry, in the same trade

or craft, and in any of the geographical areas of the Plan. Examples of prohibited work are the

same as in the preceding section. However, if you work 40 hours or less in such employment in a

calendar month, your Pension remains payable.

SECTION 9 – SUSPENSION OF PENSION PAYMENTS

Prohibited Employment after April 1 Following Age 70-1/2

Beginning with the April 1 immediately following the calendar year in which you attain age 70-

1/2, there are no restrictions on the type, duration or location of the work you may perform while

receiving Pension payments from the Plan.

Examples of Activities that do not constitute Prohibited Employment at any age

 Residential related inspection for home purchase, sale, financing or insurance purposes

by a certified inspector if a certification is required or permitted in the applicable area

 Retail sales not involving sales of construction services

 Picket duty or banner detail

 Architect, Draftsman, CAD Designer, or Engineer provided the work is not performed as

an employee of a contractor involved in the building and construction industry

 Custodial work for an employer not covered by a Collective Bargaining Agreement

 Self-employed handyman services

 Member of a construction contractor’s board of directors where compensation is

limited to no more than a director’s stipend

 Consulting on the construction viability of a project for a project owner provided that

no participation in the construction project is involved

 Convention services work under a Southern Nevada Trade Show Agreement

 Working as an instructor with the Southwest Carpenters Training Fund for no more than

100 hours per month

 Work as a Training Supervisor for no more than 40 hours in any calendar month, subject

to specific requirements. Contact the Administrative Office for additional details.

If you work in Prohibited Employment, you must notify the Administrative Office, in writing,

within 15 days after you start work. The Administrative Office will send you a notice of the

suspension of your benefits. The notice will include a description of the specific reasons for

suspension, a description and copy of the relevant Plan provisions, a reference to the applicable

Department of Labor regulations, a statement of the procedure for securing review of the

suspension, and a description of the benefits resumption procedures and Benefits Resumption

Notice that you must file before benefits can be resumed. The notice will also inform you if the

Administrative Office intends to offset any suspendible amounts which you were previously paid

for the periods of Prohibited Employment involved, the suspendible amounts which are subject

to offset, and the manner in which the Administrative Office intends to offset such suspendible

amounts. Your monthly Pension, or its commencement, will be suspended during the time you

are working and possibly longer, as described later in this section. If, in the discretionary judgment

of the Administrative Office, the information you provide verifies that you have not been

employed in employment resulting in suspension or delay of commencement of your Pension, as

soon as administratively feasible you will be paid amounts which were withheld but which were

not subject to suspension or offset.

SECTION 9 – SUSPENSION OF PENSION PAYMENTS

Suspension Period

If you work in Prohibited Employment prior to the April 1 of the calendar year following

attainment of age 70-1/2, you must notify the Administrative Office, in writing, within 15 days

after you start such work. Your Pension will be withheld for each month you are employed in

Prohibited Employment. If you are younger than Normal Retirement Age, your Pension payments

will be suspended for an additional six months after the end of the Prohibited Employment. An

exception to the additional 6-month period of suspension is available for Pensioners that return

to work as a Carpenter Craft Superintendent or Assistant Carpenter Craft Superintendent. You

must contact the Administrative Office before you return to work in order to qualify for this

exception.

Effective January 1, 2017, a one-time waiver of the 6-month additional suspension will be

permitted for reemployment in Prohibited Employment that occurs on or after January 1, 2016.

If you fail to notify the Administrative Office within 15 days as required and you are younger than

age 65, your Pension payments will be suspended for an additional 12 months, or a total of 18

months.

If your Pension is suspended, you have the right to Appeal to the Board of Trustees. The Appeal

must be in writing and must be filed with the Administrative Office within 60 days of the date on

the notice of suspension. For further information regarding the Trust’s Claims and Appeals

Procedure please see Section 12.

If you have received Pension payments which should have been suspended, the Administrative

Office will recover any overpayments either by a request for an immediate refund or through

offset against future monthly payments, as permitted by the Plan.

The Plan also requires that you file a Benefits Resumption Notice before your Pension payments

can resume. To meet this notice requirement, you must advise the Administrative Office, in

writing, as to when you stopped or will stop working in Prohibited Employment and the first

month you would like your payments to begin again. At that time, the Administrative Office will

examine the circumstances of the employment and determine the date when your Pension will

recommence and also determine how the recovery of any overpayments will be scheduled.

If you have any questions as to whether a job you plan to take will cause a suspension, please

write to the Administrative Office with the name employer for whom you intend to work, the job

description and any relevant details. The Administrative Office will advise you in writing if the job

will cause a suspension of your benefits.

At any reasonable time, including in connection with your providing 15-day notice of re-

employment, or the Administrative Office becoming aware of your possible re-employment, you

must provide any reason- able information, including any records showing the amount of time

worked by you in such re-employment and tax returns covering periods of re-employment, which

the Administrative Office deems reasonable and necessary to determine that you are not

SECTION 9 – SUSPENSION OF PENSION PAYMENTS

employed in Prohibited Employment. If, in the discretionary judgment of the Administrative

Office, the information you provide verifies that you have not been employed in employment

resulting in suspension or delay of commencement of your Pension, as soon as administratively

feasible you will be paid amounts which were withheld but which were not subject to suspension

or offset. The Administrative Office will also describe the foregoing requirements in annual

correspondence concerning such verification of employment.

Whenever the Administrative Office or Board becomes aware that you have become employed in

the same industry, in the same trade or craft, and in the same geographical area covered by the

Plan in a month after your Normal Retirement Age, and you have failed to notify the Trustees of

this employment, in writing, within 15 days after the commencement of such employment, the

Administrative Office and Board will act on the basis of a rebuttable presumption that (i) you

worked more than 40 hours in such month in Prohibited Employment and that your benefit for

such month is accordingly subject to suspension, and (ii) if your employment was at a construction

site, that you were employed in Prohibited Employment for as long as any employer for whom

you were employed at such site was engaged at such site. For benefits accrued prior to 2005, the

“same geographical area covered by the Plan” is California. For benefits accrued after 2004 and

prior to April 1, 2008, the “same geographical area covered by the Plan” is Arizona, California,

Nevada and Utah. For benefits accrued on and after between April 1, 2008 and May 31, 2014, the

“same geographical area covered by the Plan” is Arizona, California, Nevada, New Mexico, and

Utah, and within Texas, the counties of Culberson, El Paso, Hudspeth, Jeff Davis and Presidio. For

benefits accrued after June 1, 2014, the “same geographical area covered by the Plan” is Arizona,

California, Colorado, Nevada, New Mexico, Utah, and Wyoming, and within Texas, the counties of

Culberson, El Paso, Hudspeth, Jeff Davis and Presidio.

Additional Benefits

If you return to work in Covered Employment after retirement, you may earn additional Hours

Worked in Covered Employment which may increase the amount of your Normal Pension for your

work in excess of 700 Hours of Covered Employment in a calendar year. Such Hours Worked in

Covered Employment may also result in an increase in your Pension Credit (each 100 Hours

Worked in Covered Employment results in 1/12 Pension Credit, with one full Pension Credit being

the maximum you can earn in one Calendar Year).

When you stop working, your Pension will be recalculated to reflect any additional credit earned

for work after retirement. Any increase in the amount of your payments will become payable

beginning on the next January 1st after the credit was earned and you returned to retirement

status. If you retired before Normal Retirement Age and your Pension was not suspended due to

a return to employment, you may elect a different form of payment for the new accruals, but in

no event can you change the form of payment for benefits based on work performed before you

returned to work.

SECTION 9 – SUSPENSION OF PENSION PAYMENTS

Additional Reinstatement Rule Applicable only to Early Retirement Pensioners

For Early Retirement Pensioners who return to work, the monthly Pension payable upon “re-

retirement” will be (1) recalculated based on age and service as of the date benefits are being

reinstated, and (2) reduced by 1% percent of the total dollar amount of Early Retirement Pension

payments, if any, previously received prior to the date of recalculation and prior to Normal

Retirement Age. However, in no event will the monthly amount upon reinstatement be less than

the amount payable at the time a Pensioner returned to work, and in no event will additional

benefits due to a return to Covered Employment become payable earlier than January 1 of the

calendar year following the Plan Year in which the Pension Credits were earned.

Non-covered Employment

If you work in Non-covered Employment, the special rules described below will apply with respect

to the portion of any Pension attributable to Hours Worked in Covered Employment after

November 1, 1992:

“Non-covered Employment” means work in the building and construction industry in the

geographical jurisdiction of the Plan (the Southwest Region) after November 1, 1992 for an

employer which has not signed a collective bargaining agreement with the Union or any self-

employment which is not covered by a collective bargaining agreement with the Union.

1. Early Retirement Pension. The effective date of an Early Retirement Pension will be

delayed six months for every calendar quarter in which you work at least one hour in

Non-covered Employment, but not later than Normal Retirement Age.

2. Service Pension. The effective date of a Service Pension will be delayed six months for

every calendar quarter in which you work at least one hour in Non-covered

Employment, but not later than Normal Retirement Age.

3. Suspension of Pension Benefits. If your Pension is suspended on account of

employment in Prohibited Employment, an additional six months of suspension shall be

added to the period of suspension otherwise provided for in the Plan for each calendar

quarter in which you perform Non-covered Employment but not beyond Normal

Retirement Age.

4. Death Benefits. Pre-retirement death benefits other than the Surviving Spouse Annuity

shall not be payable to your surviving spouse if you work in Non-covered Employment.

5. Return to Covered Employment. If you work in Non-covered Employment and then

return to employment for an employer required to contribute to the Plan for at least as

long a period as you previously worked in Non-covered Employment, the penalties

provided for such work prior to that period shall be waived.

SECTION 9 – SUSPENSION OF PENSION PAYMENTS

Annual Pension Verification

The Administrative Office will periodically request information from pensioners or

beneficiaries that is necessary to properly administer plan benefits. Failure to respond to these

requests in a timely manner will result in a suspension of your pension benefits.

If you under age 65 while receiving a Pension benefit, the Plan may at any time require evidence

that you are still retired from work in the construction industry and not engaging in Prohibited

Employment. For most pensioners, a copy of your annual Federal tax filing along with

corresponding Forms W-2 would be required as certification that you continue to be eligible for

benefits. If you are not required you to file a Federal tax return, you may be required to provide

additional information as requested by the Administrative Office to verify your status.

If you are over age 65 while receiving a Pension benefit, you may be required to submit a notarized

statement to verify that you are in fact living and receiving your monthly pension benefits.

SECTION 10 – DEATH BENEFITS

If You Die Before Pension Payments Commence

The following benefits may be payable if you die before Pension benefits have commenced. If you

had 10 or more Vesting Service Credits at the time of your death, payments to your surviving

spouse can begin with the month following the month in which you died. Your spouse may elect

to postpone the start of payments to the first day of any later month, but not later than December

1 of the year in which you would have attained age 72 (age 70-1/2 if the Participant was born

before July 1, 1949). If you had at least five but fewer than 10 Vesting Service Credits, payments

to your spouse will be deferred until the first of the month in which you would have attained

Normal Retirement Age, had you lived. If you die during military service, you may be treated as if

you died while working in Covered Employment.

Non-spouse beneficiaries and spouses married less than one year

If you are not married (or you have been married for less than one year) and die before retirement

but after you are Vested, your beneficiary may be eligible for the 36 Monthly Payments Benefit if

you had fulfilled the age and service requirements for a Regular, Early, Service or Vested Pension

at the time of your death.

Under this benefit, he or she will receive 36 payments equal to the amount you would have

received at age 65 based on the Pension Credit you had accrued at the time of your death.

Pre-Retirement Surviving Spouse Annuity

If you are married and die before retirement, but after you are Vested, your surviving spouse may

be entitled to the Surviving Spouse Annuity. In order to be eligible for the Surviving Spouse

Annuity, you and your spouse must have been married throughout the one-year period prior to

your death. Your spouse must complete an application for benefits and provide the

Administrative Office with certified marriage and birth certificates.

When Pension Payments to a Surviving Spouse Begin

Pension payments to a surviving spouse will be paid as follows:

 If you had 10 or more Vesting or Pension Credits at the time of your death, payments

to your surviving spouse may begin with the month following the month of your death.

 If you had at least five but fewer than 10 Vesting Service Credits, payments to your

surviving spouse will begin on the first of the month coinciding with the date you would

have attained Normal Retirement Age.

 Under certain circumstances, your surviving spouse may also elect to defer payment of

benefits. In this case, the benefit payment will be increased in recognition of the later

SECTION 10 – DEATH BENEFITS

beginning date. However, benefits may not be delayed beyond December 1 of the

calendar year in which you would have reached age 72, (age 70-1/2 if the Participant

was born before July 1, 1949) or, if later, December 1 of the calendar year following the

calendar year of your death.

 Your spouse must file an application for benefits with the Administrative Office before

payments can begin.

Amount of Pre-Retirement Surviving Spouse Annuity

The pre-retirement Surviving Spouse Annuity provides monthly payments to your spouse for his

or her lifetime equal to 50% of the amount you would have received if you had retired on the 50%

Qualified Surviving Spouse Pension on the day before you died. If you are younger than age 55

when you die, the benefit will be calculated as if you had been age 55. However, if you had

accrued at least 30 years of Pension Credit at the time of your death, the benefit will be calculated

as if you had been age 65.

Example where Participant dies with 5 but less than 10 Vesting Service Credits

If $1,000 is the amount of Regular Pension that would have been payable on the day

before your death, the amount paid as a 50% Qualified Surviving Spouse Pension

would be $880, assuming you and your spouse were the same age. (Please refer to

Table 2 under Early Retirement in Section 6.) Your surviving spouse would then

receive half of that amount or $440 each month beginning with the month in which

you would have attained Normal Retirement Age (usually age 65).

Example where Participant dies with 10 or more Vesting Service or Pension Credits

If you had 10 or more Vesting Service or Pension Credits, benefits commence with

the month after your death instead of after you would have reached age 65.

Therefore, the benefit is reduced further for early retirement if you die before age

62 (age 65 for benefits earned after January 1, 2011). If you were age 55, or younger,

at the time of death, the $880 Qualified Surviving Spouse Pension in the prior

example would be reduced by 21% to $695.20 (assuming all benefits were earned

prior to 2011). Your surviving spouse would then receive half of that amount or

$347.60 for each month beginning with the month after the month you died.

If, however, your benefits were all earned after 2010, the amount of reduction starts

from age 65. Thus, if you die at age 57, the amount in the prior example would be

reduced by 24% to $668.80. Your surviving spouse would then receive half of that

amount or $334.40 for each month beginning with the month after the month you

died.

These rules are summarized in the following table:

SECTION 10 – DEATH BENEFITS

Pre-Retirement Surviving Spouse Payments

Credits Earned When Payable How Calculated Example

5 (but less than

10) Vesting Service

Credits

Month Participant

would have been 65

NRA x QSS x 50%

$1000 x .88* x 50%

= $440.00

10 or more Vesting

Service or Pension

Credits

Month following

Participant’s death

NRA x ERF x

QSS x 50%

$1000 x .79** x .88

x 50% = $347.60

30 Pension Credits

Month following

Participant’s death

NRA x QSS

x 50%

$1000 x .88 x 50%

= $440.00

NRA: amount the participant would have received if had retired at age 65 (Section 6).

ERF: reduction for age, if participant was under age 62 (age 65 for benefits earned

after January 1, 2011) (Section 6).

QSS: 50% Qualified Surviving Spouse Factor (Section 8).

 This is the applicable factor for a member whose spouse is the same age.

** This is the applicable Early Retirement Factor for a participant age 55, or younger, at time

of death.

Spouse’s Choice. Instead of the pre-retirement Surviving Spouse Annuity, your spouse may elect

to receive the 36 Monthly Payments Benefit as described below. After your death, your spouse

will receive an estimate for both types of benefits and will have 90 days to make an election. The

amount of the 36 monthly payments will be increased, if necessary, to be equal to the actuarial

present value of the Surviving Spouse Annuity. The 36 Monthly Payments Benefit is not available

to your Surviving Spouse if you worked in Non-covered Employment (see Non-Covered

Employment in Section 9).

If You Die After Pension Benefits Have Commenced

Your Pension benefits are payable for your lifetime. As described below, depending on the

election you make at retirement, payments may also be available to your beneficiary after your

death.

50% Qualified Surviving Spouse Pension

The payments to your surviving spouse will be equal to 50% of the monthly Pension you were

receiving at the time of your death. Only the spouse to whom you were married at the time of

your retirement is the beneficiary of this survivor payment, even if the two of you later get

divorced. If your spouse pre-deceases you, your benefit may be increased to the amount that you

would have received had you elected the Single Life Annuity, effective with the month that follows

your spouse’s date of death. Refer to Section 8 for details.

SECTION 10 – DEATH BENEFITS

Optional 75% Qualified Surviving Spouse Pension

Beginning with retirements after January 1, 2009, your surviving spouse will receive payments

equal to 75% of the monthly Pension you were receiving at the time of your death if you elected

the Optional 75% Qualified Surviving Spouse Pension instead of the 50% Qualified Surviving

Spouse Pension when you retired. If a married participant dies after materially completing a

pension application selecting the Optional 75% Survivor Annuity, the surviving spouse will still be

entitled to the Optional 75% Survivor Annuity.

36 Payment Death Benefit

If you retire on a Single Life Annuity and die before receiving 36 monthly payments, the Plan will

continue to pay your monthly benefits to your beneficiary until the balance of 36 payments have

been completed. This benefit is not available if you were receiving payments under the Qualified

Surviving Spouse Pension or a Joint and Survivor Annuity.

Joint and Survivor Option (50%, 100%)

Depending on the option you elected at retirement, the payments to your survivor will be 50% or

100% of the monthly Pension you were receiving at the time of your death. Similar to the Qualified

Surviving Spouse Pension, the choice of beneficiary cannot be changed after you have elected this

option. Unlike the Qualified Surviving Spouse Pensions, the amount of your payments under a

Joint and Survivor option will not be increased should your beneficiary pre-decease you. If the 24-

month pre-filing period is not completed prior to your death, your beneficiary will receive the

amount you were receiving at the time of your death, for the balance of 36 months.

Level Income Option

This form of benefit is only available for benefits earned prior to January 1, 2014. This option will

provide beneficiary payments only if your death occurs before you have collected enough

payments to equal the amount you would have received had you elected and received the Single

Life Annuity for 36 months. If, for example, you could have elected a $1,000 Single Life Annuity at

retirement, $36,000 would have been guaranteed. If you had elected the Level Income Option

and received less than $36,000 at the time of death, your beneficiary would receive the difference

between what you received and the $36,000, in monthly payments equal to the amount ($1,000

in this example) your monthly Pension would have been under the Single Life Annuity.

$1,000 Death Benefit

This benefit is paid on behalf of all retired carpenters who die while receiving any type of Pension

provided they had accrued at least 10 years of Southwest Plan Pension Credit (without regard to

reciprocal credits) at the time they retired. If you meet this requirement, a lump sum payment of

$1,000 will be paid to your beneficiary in addition to any other payments which may be due from

the Plan.

SECTION 10 – DEATH BENEFITS

DESIGNATING A BENEFICIARY

You may designate a beneficiary to receive any payments due upon your death that are not

payable only to your surviving spouse. If you are married when you retire, your spouse must

consent to any non-spouse beneficiary you named.

If you do not designate a beneficiary, or if your designated beneficiary deceases and you have not

named a new one, any available death benefits will be paid to your surviving spouse, or if none,

to your family or estate according to the Plan Document as interpreted by the Board of Trustees.

Important: your beneficiary designation will remain in effect, even in the case of a divorce, unless

you submit a new beneficiary designation. Beneficiary designation forms are available from the

Administrative Office and online at the Administrative Office website.

SECTION 11 – RECIPROCITY

There are several ways in which your hours reported to other pension trusts, principally Carpenter

trusts outside the Southwest Region, can affect your qualification for the type of Pension under

the Plan, or the other trusts to which your hours are reported. Reciprocity is designed to allow

you to qualify for benefits you might not otherwise obtain simply by reason of your having worked

outside the Southwest Region or having your hours reported to other plans within the Southwest

Region. Specific rules apply to determine whether your hours under other plans affect your

qualification for a benefit under the Southwest Plan.

Two Ways Reciprocity Can Help You

1. Transfer of Contributions/Money-Follows-the-Person. A Reciprocal Agreement allows

your contributions to be transferred (sometimes called “money-follows-the-person”) to

your “home fund” where they then are treated as contributions as though made directly

by employers, subject to the rules of recognition of the home fund. This election must

be made within 60 days of starting work with a participating fund.

2. Combining Pension Credits earned with different pension trusts. Pension Credit

earned with other trusts (Related Credit) may in some cases be used to qualify you for

benefits that would not otherwise be available to you using only your Southwest Plan

credit.

Examples of this are:

Partial Pensions. Service under a plan that is signatory to the International Reciprocal Agreement

for Carpenters Pension Funds may help you qualify for a Partial Pension under the Plan. The

amount of a Partial Pension is determined solely by your Hours Worked in Covered Employment

under the Southwest Plan, which explains why it is called “partial,” but you may qualify for it by

adding your service under the other plan to your service under the Southwest Plan if needed to

reach a service requirement, such as 10 Pension Credits.

Pro-Rata Pensions. Individual arrangements have been made with a few specified plans to

recognize service credits under such plans for purposes of paying Pro Rata Pensions under the

Plan. Pro Rata Pensions resemble Partial Pensions in that the amount of the Pro Rata Pension is

determined solely by your Hours Worked in Covered Employment under the Southwest Plan, but

service under the other plans may allow you to meet a service requirement for a type of Pension

offered under the Plan.

Unilateral Reciprocity. In a few specified cases, service under another specified construction

industry plan may be recognized by the Plan for limited purposes, usually qualifying for the service

requirement of a Pension.

SECTION 11 – RECIPROCITY

“Money-Follows-the-Person” Transfer of Contributions

Beginning August 1, 1988, in addition to the Partial Pension described below, the Plan adopted

International Reciprocal Agreement Exhibit B which permits the transfer of contributions from

one Related Plan to another. In this type of reciprocity, the contributions made to a Related Plan

on your behalf for work outside the jurisdiction of your Home Fund may be transferred to your

Home Fund if you elect. You will receive credit for these contributions under the provisions of the

pension plan receiving the contributions. In the event the Southwest Carpenters Pension Trust is

your Home Fund and contributions are made by a Related Plan on your behalf, your credit for

those contributions will be based on the hours you worked. In order to understand how this

works, it is important to understand the following terms:

1. Cooperating Fund: Any pension fund which has adopted both Exhibit A (Partial

Pensions) and Exhibit B (Transfer of Contributions) of the International Reciprocal

Agreement. Contributions CANNOT be transferred unless both pension funds involved

are signatory to Exhibits A and B.

2. Home Fund: In general, if you are a member of a local union, your Home Fund will be

the Cooperating Fund to which your local union is signatory. Otherwise, your Home

Fund will be that Cooperating Fund which has received the majority of contributions

made on your behalf in the last 3 years.

Eligibility for Transfer of Contributions

You are eligible to have the contributions that are made on your behalf transferred to your Home

Fund if:

1. You are temporarily employed outside the jurisdiction of your Home Fund and within

the jurisdiction of a Cooperating Fund; and

2. You have filed a written authorization form within 60 days of the commencement of

employment within the jurisdiction of the Cooperating Fund electing to have such

contributions transferred to your Home Fund.

Upon receipt of these contributions, the Home Fund will credit the Employer contributions in

accordance with the provisions of the Home Fund.

Before authorizing the transfer of contributions, you should carefully evaluate the terms of each

plan and the duration of your expected employment in another jurisdiction. In the event you do

not wish to have contributions transferred or fail to file the written authorization form in a timely

manner, the contributions will remain in the Cooperating Fund and the Partial Pension provisions

(see above) will apply. In no event will a contribution result in a duplication of credit hours,

pension or vesting credits.

SECTION 11 – RECIPROCITY

If you would like to find out if a particular Carpenters pension plan participates in this type of

reciprocity or have any other questions, please contact the Administrative Office.

Partial Pensions

Carpenter Union Employment in Areas Outside the Southwest Region May Qualify You for a

Partial Pension

The Plan is a party to the International Reciprocal Agreement for Carpenters Pension Funds (the

“Reciprocal Agreement”) sponsored by the United Brotherhood of Carpenters and Joiners of

America. One purpose of the Reciprocal Agreement is to provide that the service with a signatory

plan (called “Related Plan”) can be combined for the purpose of meeting a service requirement

to qualify for a Pension, although the amount of the pension under a Related Plan is determined

solely based on hours reported to, and retained by, that plan. In the case of the Southwest Plan,

this is accomplished by permitting Partial Pensions. A Partial Pension is a type of Pension offered

under the Plan for purposes of reciprocity which is based on your Normal Pension amount actually

earned solely under the Plan. However, if you do not have enough Credit under the Plan itself to

qualify for a Pension requiring a minimum amount of service (such as 10 Pension Credits), you

can apply the Related Credits you have for service under a Related Plan. Also Related Credits

under the Reciprocal Agreement can count for purposes of avoiding a Break in Service (this does

not apply in the case of Pro Rata Pensions, as described below). The Administrative Office will

determine your related credits for Partial Pension qualification for you, by obtaining them from

the Related Plan. You should assist them by making sure they are aware of other Carpenter plans

under which you worked through the years.

The Amount of a Partial Pension

The amount of a Partial Pension will be based solely upon your Hours Worked in Covered

Employment under the Plan.

Eligibility for a Partial Pension using Related Plan Credit

You must have earned, after January 1, 1959, at least one year of Pension Credit under this Plan

and at least one year of credit under a Related Plan.

Types of Pensions Payable as Partial Pensions

Similar related pension credits from a related fund can be combined with Pension Credits earned

under the Plan to meet the service requirements for a Regular or Early Retirement Pension,

resulting in your qualifying for a Partial Regular or Partial Early Retirement Pension.

Related credits cannot be used to reach the 30 Pension Credits required to qualify on a partial

basis for a Service Pension, with the exception that pension credits from the Carpenters Pension

Trust for Northern California can be used in order to meet the 30 Pension Credits requirement in

order to qualify for a Partial Service Pension.

SECTION 11 – RECIPROCITY

Pro Rata Pensions

Pro Rata Pensions are generally determined in the same way as Partial Pensions when there is a

special reciprocity agreement between this Plan and the related fund, which is not signatory to

the International Reciprocal Agreement for Carpenters Pension Funds. In order for related credits

to be counted toward a Pro Rata Pension, you must have earned, after January 1, 1959, at least

two years of Pension Credit under this Plan and any related fund. In addition, a Service Pension is

not payable under any circumstances as a Pro Rata Pension.

Please contact the Administrative Office if you believe you are entitled to related credits from a

related plan that has entered into a special reciprocity agreement with this Plan.

Suspension of Partial and Pro Rata Pension Payments When You Return to Work in Prohibited

Employment

Once a Partial Pension or Pro Rata Pension commences, its monthly payments are subject to

suspension and further penalty delays if you return to work in Prohibited Employment, including

Non-covered Employment. Each plan’s suspension of benefits rules generally applies to the

portion of the benefit paid by that plan. However, a Partial Pension or Pro Rata Pension for which

you qualify by reason of Related Credits will be suspended not only under the Plan’s rules, but in

the event the Related Plan suspends its associated partial pension. See Section 9, Suspension of

Pension Payments, for the general rules pertaining to suspension of benefits under the Plan.

Unilateral Reciprocity

Your pension credit earned under another building trades industry pension plan may be

recognized by the Plan under specific rules which may vary for purposes of vesting, satisfying the

service requirement for any type of Pension or preventing a Break in Service, provided the

following conditions are met:

1. The Board of Trustees has adopted a resolution that recognizes the other building

trades industry pension plan as a Related Plan;

2. You have earned at least one year of Future Service Credit under this Plan;

3. You provide written evidence that verifies your hours of employment which are

credited under a Related Plan.

Again, as with Partial and Pro Rata Pensions, the monthly amount of benefit paid to you by the

Plan will be based solely on Hours Worked in Covered Employment credited under this Plan. The

Administrative Office can advise you which building trades industry funds are subject to Unilateral

Reciprocity from time to time and the specific crediting rules applicable to such plan.

SECTION 11 – RECIPROCITY

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL

How to Apply for Pension Benefits

You can request an application from the Administrative Office and submit the completed

application at least 90 days prior to the date you want your monthly payments to start. Pensions

are usually effective on the first day of the month following the month once all eligibility

requirements are met and all requested documents have been received.

A claim for a Pension cannot be filed more than 12 months prior to your Annuity Starting Date. If

you file your claim too soon, you will be asked to complete a new application closer to your

expected date of retirement.

Along with your application, you must provide a copy of your birth certificate or other proof of

your date of birth along with any other information or proof requested by the Administrative

Office. Proof of marriage or divorce and of your spouse’s date of birth must also be submitted.

For a Joint and Survivor Annuity, you must submit proof of your beneficiary’s date of birth.

The Administrative Office must verify your Pension Credits. For Past Service Credits, based on

employment before contributions to the Plan prior to the early 1960’s, this proof often has to be

obtained from the Social Security Administration. Therefore, in such cases it may take additional

time after the Administrative Office receives an application to complete processing.

After processing of your application has begun, the Administrative Office will send you additional

forms on “How my Pension is to be Paid,” and “Retirement Declaration.” If you have any questions

about these forms, contact the Administrative Office as soon as possible. The signed (and

notarized, if applicable) completed forms must be received by the Administrative Office before

your monthly payments can begin.

Annuity Starting Dates

Generally, Pensions are effective on the first day of the month following the month your

completed application for Pension benefits is received. However, the start of payments may be

delayed in some cases because of processing. For example, the Administrative Office often has to

obtain proof of employment for Past Service Credit from the Social Security Administration. This

may cause a delay.

If You Are Married

The default form for married retirees is a 50% Qualified Surviving Spouse Pension, and, for

unmarried retirees, it is a Single Life Annuity (with 36-month minimum). By law, you and your

spouse have a 30-day notice and election period in which to decide the form of payment.

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL

Regardless of the form of payment chosen, your Annuity Starting Date (the date as of which

your benefits become effective) and the actual distribution of your benefits cannot occur before

this notice period ends unless you elect to waive the minimum 30-day notice and election

period and your spouse, if any, consents to that waiver and the distribution of benefits does not

begin until at least seven days have passed since consent was given.

Required Beginning Date

You may elect to defer commencement of your benefit payments past retirement; however, for

distributions required to be made after December 31, 2019, you are required by law to begin your

payments no later than April 1 following the calendar year in which you reach age 70-1/2 (for

Participants born before July 1, 1949), or age 72 (for Participants born on or after July 1, 1949).

This date is known as your Required Beginning Date.

Beneficiaries’ Application for Benefits

If you die before retirement, your surviving spouse or other beneficiary must file an application

with the Administrative Office for any death benefits which may be due.

Claims and Appeals Procedures

This section describes the procedure for you to follow if your claim (as defined below) is denied

in whole or in part and you wish to appeal the decision.

CLAIMS PROCEDURES

1. Claims for Benefits

These procedures only apply to “claims” for benefits. Requests for information are not

“claims”. Inquiries, questions and requests you pose to the Administrative Office

regarding eligibility, amount, types and forms of pensions are not “claims”. They are not

subject to time limits for response and are not appealable.

What is a “claim” for benefits?

The following become claims when submitted in writing to the Administrative Office as

described below:

 Your fully completed Pension Application

 Your request for reinstatement of a suspended benefit

 Your request for determination of whether specific employment will result in

suspension of benefits

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL

 Your request on a form provided by the Administrative Office for an adjustment

in the amount of Hours Worked in Covered Employment, Pension Credit or

Vesting Credit, including Regional Credit, otherwise shown on the

Administrative Office’s record of your pension history

2. Where to File a Claim

Claims must be received at an Administrative Office located at:

Southwest Carpenters Pension Trust

533 South Fremont Avenue

Los Angeles, CA 90071-1706

(213) 386-8590

(800) 293-1370

FAX (213) 739-9369

Claim forms that require your signature and/or notarization must be on paper with

original signatures and imprints. Claim forms may be obtained by contacting the

Administrative Office.

3. Authorized Representatives

An authorized representative, such as an individual with power of attorney or a court-

appointed conservator, may complete the claim form on your behalf if you are unable

to complete the form on your own. The Administrative Office may request additional

information to verify that this person is authorized to act on your behalf.

4. When a Decision Will be Made on a Claim

a. Pension Claims

Pension claims will be adjudicated and notice of the decision sent to you within

a reasonable period of time, but not later than 90 days after receipt of the claim

by the Administrative Office.

This period may be extended once for another 90-day period, provided that the

Administrative Office: (1) determines that special circumstances require the

extension; and (2) notifies you, prior to the expiration of the initial 90-day period

of the circumstances requiring the extension of time and the date by which a

decision on your claim may be expected.

b. When a Claim is Deemed “Received”

A claim is “received” for purposes of these rules when the signed Pension

Application form, written request for reinstatement of a suspended benefit or

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL

for a determination as to whether specific employment will result in suspension

of benefits, or completed form for an adjustment in the amount of Hours,

Pension or Vesting Credits is received in writing by First Class Mail or personal

delivery to the Administrative Office, although additional information, including

election forms, tax forms, retirement declarations, etc. may be required before

an initial determination can be made on the claim. The Administrative Office will

specify what additional information may be needed. Claims sent by electronic

mail are not accepted as “received” claims.

c. Missing Information

If your claim is received without all the required information to process your

claim, you will be notified by the Administrative Office of what additional

information is needed and you will be given additional time to supply the missing

information. The time periods for making decisions discussed in Sections 1 and

2 above are suspended from the date you are notified of the need to supply

missing information until the date you respond to the notice to the

Administrative Office.

In the case of a claim for pension benefit you will be given 90 days to provide

the missing information. If such information is not received by the

Administrative Office within the 90-day extension period, the claim will be

denied, and a new application must be filed with the Administrative Office.

5. Form of Notice of Initial Determination

If your claim for benefits is denied in whole or in part, the Administrative Office will

provide you a written notification that sets forth:

a. The specific reason(s) for the determination;

b. Reference to the specific plan provision(s) on which the determination is based;

c. A description of any additional material or information necessary to perfect the

claim and any explanation of why the additional material or information is

necessary; and

d. A description of the Plan’s appeal procedures and the time limits applicable to

such procedures, including a statement of your right to sue under Section 502(a)

of ERISA after exhaustion of the review procedures and the time limit for

bringing such suit described in subsection 6 at the end of this section.

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL

APPEALS PROCEDURES

1. Time to Request Review

You may appeal a denial of your claim for benefits by filing a written review request

with the Pension Appeals Committee or its delegate at the Administrative Office. The

Trust’s Benefits Committee serves as the Pension Appeals Committee. Each appeal must

be delivered to the Administrative Office by mail or personal delivery.

You have 60 days following receipt of notification of an adverse determination to file

an appeal of a denied claim for Pension benefits.

Any request for review received by the Administrative Office after these time frames is

untimely and subject to denial on review on that basis alone.

2. Full and Fair Review of Appeals

You will be given the opportunity to submit written comments, documents, records and

other information relating to the claim. The Administrative Office will provide you, upon

request and free of charge, reason- able access to and copies of all documents, records

and other information relevant to the claim. The review of the claim will take into

account all comments, documents, records and other information you submit

relating to the claim, without regard to whether such information was submitted or

considered in the initial benefit determination. The review will be conducted by the

Pension Appeals Committee or its delegate and their decision will be independent of

the initial denial.

The Administrative Office will take steps to ensure and to verify that all benefit claim

determinations are made in accordance with governing plan documents and that these

plan provisions have been applied consistently with respect to you and other similarly

situated claimants.

3. Determination on Review – Notice

A determination on review is required to be made by the Pension Appeals Committee

or its delegate no later than the date of the meeting of the Pension Appeals Committee

that immediately follows receipt of the request for review by the Administrative Office,

unless the request for review was filed within 30 days preceding the date of such

meeting. In such a case, a benefit determination on review may be made no later than

the date of the second meeting following the receipt of the request for review. If special

circumstances require a further extension of time for processing, a benefit

determination on review shall be rendered not later than the third meeting of the

Pension Appeals Committee following the receipt of the request for review. If special

circumstances require such an extension, the Administrative Office will notify you in

writing of the extension, describing the special circumstances and the date on which

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL

the benefit determination on review will be made. If an extension is due to your failure

to submit information necessary to decide the claim, the period for making the

determination on review will be suspended from the date on which the notification or

extension is sent to you until the date on which you respond to the request for

additional information. Notice of the benefit determination on review will be given not

later than five days after such a determination is made.

4. Form of Notice of Determination on Review

The Administrative Office will provide you with written notification of the

determination on review. If the determination is adverse, the written notice will set

forth:

a. The specific reason(s) for the determination;

b. Reference to the specific plan provision(s) on which the determination is based;

c. A statement that you are entitled to receive, upon request and free of charge,

reasonable access to and copies of all documents, records and other information

relevant to the claim; and

d. A statement of your right to sue under Section 502(a) of ERISA and the time limit

for bringing such suit described in subsection 6 at the end of this section.

5. Discretionary Authority

In carrying out their responsibilities under the Plan, the Trustees have discretionary

authority to interpret the terms of the Plan and to interpret any facts relevant to the

determination, and to determine eligibility and entitlement to Plan benefits in

accordance with the terms of the Plan and in accordance with the Trustees’ intent in

adopting those Plan provisions. Any interpretation or determination made under this

discretionary authority will be given full force and effect unless it can be shown that the

interpretation or determination was arbitrary and capricious.

The Trustees may request any information that is reasonably necessary to verify that

Participants and Beneficiaries are eligible for benefits and/or that they continue to be

eligible for benefits after their commencement. All Pensioners and Beneficiaries over

the age of 65 may be requested to sign and return a Life Verification Form to confirm

that they are alive and receiving their monthly pension. The Form must be signed before

a notary or a Plan or Union representative. Benefits may be withheld until the requested

documents and/or information has been provided.

Any Participant or other person seeking or obtaining the benefits of the Plan agrees that

the Trust may recoup, offset other payments due from the Plan, or obtain any other

appropriate remedy, including recouping costs of collection and punitive damages, if

SECTION 12 – HOW TO CLAIM YOUR PENSION AND APPEAL A CLAIM DENIAL

applicable, with respect to (1) any amounts paid by the Plan in excess of the amounts

payable under the Plan, or (2) any amounts paid as a result of fraud, misrepresentation

or concealment, including by means of false or incomplete information in an

application.

6. Limitation on When a Lawsuit may be Filed

You may not file a lawsuit to obtain benefits until you have exhausted all of the claim

and appeal procedures and a final decision has been made on your appeal, or until the

appropriate time frame described above has elapsed without a final decision being

rendered on your claim or appeal for benefits. You must bring any suit under Section

502 of ERISA within one year of the exhaustion of your claim and appeal administrative

remedies as described in the preceding sentence. Any suit filed against the Fund must

be filed in the appropriate Court in Los Angeles County.

These procedures are intended to comply with ERISA § 503 and Regulations developed

by the United States Department of Labor at 29 CFR § 2560.503-1 effective for benefit

claims filed with the Administrative Office on and after January 1, 2002.

SECTION 13 – BASIC INFORMATION

1. The name and type of administration of the Plan.

The Southwest Carpenters Pension Plan is a defined benefit plan, adopted, sponsored

and administered by the Board of Trustees of the Southwest Carpenters Pension Trust

which is a collectively bargained trust governed by the Board of Trustees. The Board of

Trustees is appointed in equal numbers by Labor and Management representatives.

2. Internal Revenue Service plan identification number.

The Federal Employer Identification Number (EIN) issued to the Board of Trustees by

the Internal Revenue Service is 95-6042875. The Plan number is 001.

3. Name and address of the person designated as agent for the service of legal process.

Daniel M. Shanley, Esq.

Shanley A.P.C.

533 South Fremont Avenue

9th Floor

Los Angeles, CA 90071-1706

Legal process may also be served on a Plan Trustee or the Plan Administrator.

4. Name and address of Plan Administrator.

The Board of Trustees of the Southwest Carpenters Pension Trust is the Plan

Administrator of the Plan for purposes of the Employee Retirement Income Security Act

of 1974, as amended. The Board of Trustees has delegated day-to-day administration

of and claims processing for the Plan to:

Carpenters Southwest Administrative Corporation

533 South Fremont Avenue

Los Angeles, CA 90071-1706

(213) 386-8590

SECTION 13 – BASIC INFORMATION

5. Names, titles and addresses of the Trustees.

Management Trustees

Curtis Conyers, Jr.

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

Tony Cornell

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

Kim Fromer

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

Richard Harris

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

Clint G. Larison

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

Bert Lewitt

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

Anthony Rosetti

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

Greg Wilson

c/o Carpenters Southwest

Administrative Corporation

533 South Fremont Avenue

Los Angeles, California 90071

SECTION 13 – BASIC INFORMATION

Labor Trustees

Douglas McCarron,

General President

United Brotherhood of

Carpenters and Joiners

of America

533 South Fremont Ave.

Los Angeles, CA 90071-1706

Oscar Cordova

Southwest Regional Council

of Carpenters

533 South Fremont Ave.

Los Angeles, CA 90071-1706

Sean Hartranft

Southwest Regional Council

of Carpenters

533 South Fremont Ave.

Los Angeles, CA 90071-1706

Frank Hawk

Southwest Regional Council

of Carpenters

533 South Fremont Ave.

Los Angeles, CA 90071-1706

Jacob Lopez

Southwest Regional Council

of Carpenters

533 South Fremont Ave.

Los Angeles, CA 90071-1706

Josh Raper

Southwest Regional Council

of Carpenters

533 South Fremont Ave.

Los Angeles, CA 90071-1706

Pete Rodriguez

Southwest Regional Council

of Carpenters

533 South Fremont Ave.

Los Angeles, CA 90071-1706

Frank Zambrano

Southwest Regional Council

of Carpenters

533 South Fremont Ave.

Los Angeles, CA 90071-1706

SECTION 13 – BASIC INFORMATION

Collective Bargaining Agreement. Contributions to this Plan are made on behalf of each

employee in accordance with Collective Bargaining Agreements between the Southwest

Regional Council and Local Unions in the Southwest Region affiliated with the United

Brotherhood of Carpenters and Joiners of America and employers in the industry.

The Administrative Office will provide you, upon written request, for a reasonable

charge, a copy of the Collective Bargaining Agreement and/or a list of contributing

Employers and employee organizations sponsoring the Plan. The Collective Bargaining

Agreement and complete list of employers and employee organizations sponsoring the

Plan is also available for examination by participants and beneficiaries at the

Administrative Office.

6. The Plan’s requirements with respect to eligibility for participation and benefits are

summarized in Section 2 “How You Participate in the Plan,” Section 4 “Vesting,” and

Section 7 “Types of Pension” of this summary plan description.

7. Non-exclusive description of material circumstances which may result in

disqualification, ineligibility, or denial, loss, forfeiture, suspension, offset, reduction,

or recovery of benefits.

Beginning January 1, 1985, a Participant will incur a “Permanent Break in

Covered Employment” if the number of consecutive plan years in which he failed

to complete 500 hours of service is at least five and equals or exceeds the

number of full years of Vesting Service Credit which he had previously

accumulated.

If a retired Employee returns to employment prohibited by the Plan, he must

inform the Board of Trustees in writing within 15 days of his return. Benefits will

be suspended for work in Prohibited Employment.

A retired Employee is not eligible to receive a Pension until the first day of the

month following the date on which he files an application for a Pension. The

procedure for filing an application for benefits is outlined in Section 12 of this

Booklet under “How to Apply for Pension Benefits.”

In addition to the description set forth elsewhere in this Booklet, your benefits

may be reduced if they exceed the maximum amount allowed by Section 415 of

the Internal Revenue Code.

That section generally limits annual benefits to a flat dollar amount. For 2022,

the flat dollar limit is $245,000, reduced slightly for the value of the 36-month

guarantee. The flat dollar amount is further reduced if benefits start earlier than

the Normal Retirement Age for full benefits or are paid in a form other than a

Single Life Annuity with a 36-month guarantee or a Qualified Surviving Spouse

Pension. For example, the limit is approximately $153,000 for an individual age

SECTION 13 – BASIC INFORMATION

55. These limits are adjusted periodically to reflect changes in the cost of living.

In applying these limits, the benefits of all retirement plans (except for other

multiemployer plans) sponsored by the same employer are aggregated. These

limits shall be applied separately to benefits earned from different employers

but only for benefits accrued before 2008.

If the annual retirement benefit exceeds the maximum benefit permitted, the

Retired Employee’s benefit will be reduced to the limit then in effect. In

following years, as cost of living increases raise the limits on benefits, payments

may be increased.

If a Retired Employee’s benefit must be reduced due to aggregation with a non-

multiemployer plan, the reduction applies to the benefit from the non-

multiemployer plan unless the benefit from that plan has been paid.

Refer to Section 2 of this summary under “How You Participate in the Plan” with

regard to the requirements to participate in the Plan. See Section 2

“Participation Rules for Special Classes of Employees” regarding termination of

participation and loss of Pension Credit and Vesting Service Credit in the event

the accrual of benefits violates IRS nondiscrimination rules.

Refer to Section 7 of this summary under “Types of Pension” with regard to the

eligibility requirements for the types of Pensions available under this Plan.

Refer to Section 12 “Claims Procedures” of this summary with regard to the

requirement of advance written application for benefits.

Refer to Section 12 “Discretionary Authority” of this summary with regard to the

Trustees’ power to recoup, offset, or recover overpayments made by the Fund,

and the Trustees’ authority to require that Pensioners and Beneficiaries over age

65 sign a Life Verification Form before a notary or a Plan or Union representative

as a condition for continuing to receive their benefits.

Refer to Section 9 of this summary under “Additional Reinstatement Rule

Applicable only to Early Retirement Pensioners” with regard to the offset of the

value of accruals after Normal Retirement Age against the value of the actuarial

adjustment for non-suspendible months, as part of the Plan’s method for

calculating Pension payment following suspension.

Refer to “Lump Sum Payment” in Section 8 “Forms of Payment” of this summary

with regard to certain benefits that are subject to mandatory cash out, as a

consequence of which, forms of payment that would otherwise be available are

not permitted.

SECTION 13 – BASIC INFORMATION

Refer to Section 9 of this summary “Suspension of Pension Payments” about

suspension of Pension payments for prohibited employment and /or failure of a

Pensioner to notify the Plan of a return to suspendible employment.

Refer to “Suspension Period” in Section 9 under “Suspension of Pension

Payments” of this summary with regard to the Trustees’ power to recover

overpayments.

Refer to “Summary of Plan provisions governing the authority of the Trustees to

terminate and amend the Plan” in Section 13 of this summary with regard to

plan termination.

Refer to “Non-covered Employment” in Section 9 of this summary with regard to

loss of benefits for performing Non-covered Employment.

8. Source of financing of the plan and identity of any organization through which

benefits are provided. All contributions to the Plan are made by Employers in

accordance with Collective Bargaining Agreements.

Benefits are provided directly from Trust assets which are accumulated under the

provisions of the Trust Agreement which provide for the control of its assets by the

Board of Trustees. The Board may, and does, delegate its investment responsibility to

investment managers registered under the Investment Advisers Act of 1940 or other

qualified delegates. The Board establishes the Trust’s funding and investment policy,

and benefit levels in light of all facts and circumstances from time to time, in its

complete discretion, subject only to ERISA and the Internal Revenue Code. The Board

provides notices to participants and beneficiaries of the funded status of the Plan in the

forms required by law, which forms do not necessarily reflect the opinion of the Board

or its actuaries as to the practical funded status of the Plan.

9. Plan Year. The fiscal year of the Plan and Trust, generally referred to as the Plan Year,

is the calendar year.

10. PBGC Guarantee of Plan Benefits Upon Termination. The collective bargaining parties

intend that this Plan continue indefinitely. However, the collective bargaining parties

reserve the right, subject to the provisions of the Trust Agreement, to terminate the

Plan.

Your defined benefit Pension benefits under this multiemployer plan are insured by the

Pension Benefit Guaranty Corporation (PBGC), a federal insurance agency. A

multiemployer plan is a collectively-bar- gained pension arrangement involving two or

more unrelated employers, usually in a common industry.

Under the multiemployer plan program, the PBGC provides financial assistance through

loans to plans that are insolvent. A multiemployer plan is considered insolvent if the

plan is unable to pay benefits (at least equal to the PBGC guaranteed benefit limit) when

due.

SECTION 13 – BASIC INFORMATION

The maximum benefit that the PBGC guarantees is set by law. Under the multiemployer

program, the PBGC guarantee equals a participant’s years of service multiplied by (1)

100% of the first $11 of the monthly benefit accrual rate and (2) 75% of the next $33.

The PBGC maximum guarantee limit is $35.75 per month times a participant’s years of

service. For example, the maximum annual guarantee for a retiree with 30 years of

service would be $12,870.

The PBGC guarantee generally covers: (1) Normal and early retirement benefits; (2)

disability benefits if you become disabled before the plan becomes insolvent; and (3)

certain benefits for your survivors.

The PBGC guarantee generally does not cover: (1) Benefits greater than the maximum

guaranteed amount set by law; (2) benefit increases and new benefits based on plan

provisions that have been in place for fewer than five years at the earlier of: (i) the date

the plan terminates or (ii) the time the plan becomes insolvent; (3) benefits that are not

vested because you have not worked long enough;(4) benefits for which you have not

met all of the requirements at the time the plan becomes insolvent; and (5) non-pension

benefits, such as health insurance, life insurance, certain death benefits, vacation pay,

and severance pay.

For more information about the PBGC and the benefits it guarantees, ask your plan

administrator or contact the PBGC Technical Assistance Division, 1200 K Street, N.W.,

Suite 930, Washington, D.C. 20005-4026 or call (202) 326-4000 (not a toll-free number).

TTY/TDD users may call the federal relay service toll-free at 1 (800) 877-8339 and ask to

be connected to (202) 326-4000. Additional information about the PBGC pension

insurance program is available through the PBGC website on the Internet at

http://www.pbgc.gov.

11. Summary of Plan provisions governing the allocation of and disposition of assets of

the Plan upon termination. The Plan provides that benefits accrued to the date of the

termination, partial termination or discontinuance will be vested to the extent they are

funded by Plan assets. If the Plan assets are sufficient to fully fund all benefits, your

benefits will be paid to you in the normal way except that they may come from an

annuity policy issued by an insurance company.

The Plan also provides that the Trustees shall take steps needed to comply with ERISA

Sections 4041A and 4281. Thus, if assets are not sufficient to fully fund all benefits

accrued to the date of termination, the Plan may not pay death benefits for deaths after

the termination date or new disability Pension awards. In addition, Pension awards

might have to be reduced or suspended if the Plan terminates by a mass withdrawal of

all employers and assets are not sufficient to fund all accrued benefits.

Examples of benefits that are subject to reduction or elimination include benefits that

were not vested under the Plan on the date of termination, and benefits and benefit

increases in effect for fewer than 60 months.

SECTION 13 – BASIC INFORMATION

If the Plan terminates and becomes insolvent, the PBGC will pay the benefits at the level

provided by law. The PBGC guarantee of monthly benefits is currently limited to $35.75

multiplied by years of Pension credit.

12. Summary of Plan provisions governing the authority of the Trustees to terminate and

amend the Plan. Some Trustee decisions are made in the settlor capacity of the Trustees

and accordingly are not fiduciary acts under ERISA. Board adoption of amendments

affecting the benefit design of the Plan are ordinarily settlor acts of the Board not

subject to ERISA.

The terms of the Plan give the Trustees authority to discontinue or terminate the Plan

in whole or in part. However, no amendment may decrease the benefit of any

Participant except:

To the extent required to comply with the Internal Revenue Code or ERISA; or

To the extent the amendment meets the hardship exception of ERISA § 302(c)(8)

and Internal Revenue Code § 412(c)(8).

Only the full Board of Trustees or its duly authorized delegate is authorized to interpret

the Pension Plan described in this booklet. The Board of Trustees, or its duly authorized

delegate, has the authority and responsibility in its complete discretion to interpret the

Plan, the Trust and this Booklet, and any administrative materials pertaining to the Plan,

in accordance with all the facts and circumstances it deems relevant, including its intent

in adopting any provision. No employer or union nor any representative of any

employer or union, in such capacity, is authorized to interpret this Plan nor can any such

person act as agent of the Trustees. The Trustees reserve the right to amend, modify,

terminate or discontinue all or part of this Plan whenever, in their judgment, conditions

so warrant, and such act shall be a settlor act.

SECTION 14 – YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974

SECTION 14 – YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME

SECURITY ACT OF 1974

As a participant in the Southwest Carpenters Pension Plan, you are entitled to certain rights

and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA

provides that all Plan participants shall be entitled to:

Enforce Your Rights

If your claim for a pension benefit is denied or ignored, in whole or in part, you have a right

to know why this was done, to obtain copies of documents relating to the decision without

charge, and to appeal any denial, all within certain time schedules.

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you

request a copy of plan documents or the latest annual report from the plan and do not

receive them within 30 days, you may file a suit in a Federal court. In such a case, the court

may require the plan administrator to provide the materials and pay you up to $110 a day

until you receive the materials, unless the materials were not sent because of reasons

beyond the control of the administrator. If you have a claim for benefits which is denied, in

or in part, you may file a suit in a state or Federal court. In addition, if you disagree with the

plan’s decision or lack thereof concerning the qualified status of a domestic relations order,

you may file suit in Federal court. If it is determined that plan fiduciaries misused the plan’s

money, or discriminated against you for asserting your rights, you may seek assistance from

the U.S. Department of Labor, or you may file suit in Federal court. The court will decide who

should pay court costs and legal fees. If you are successful, the court may order the person

you have sued to pay these costs and fees. If you lose, the court may order you to pay these

costs and fees, for example, if it finds your claim frivolous.

Receive Information About Your Plan and Benefits

You may:

1. Examine, without charge, at the Plan administrator’s office and at other specified

locations, such as worksites and union halls, all documents governing the Plan,

including insurance contracts and collective bargaining agreements, and a copy of

the latest annual report (Form 5500 Series) filed by the plan with the U.S.

Department of Labor and available at the Public Disclosure Room of the Employee

Benefits Security Administration.

2. Obtain, upon written request to the plan administrator, copies of documents

governing the operation of the plan, including insurance contracts and collective

bargaining agreements, and copies of the latest annual report (Form 5500 Series)

and updated summary plan description. The administrator may impose a

reasonable charge for the copies.

3. Receive a copy of the Plan’s annual funding notice. The Plan administrator is

SECTION 14 – YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974

required by law to furnish each participant with a copy of this annual funding

notice.

4. Obtain a statement telling you whether you have a right to receive a Pension at

Normal Retirement Age (age 65, or, if later, an applicable anniversary date) and if

so, what your benefits would be at Normal Retirement Age if you stop working

under the Plan now. If you do not have a right to a Pension, the statement will tell

you how many more years you have to work to get a right to a Pension. This

statement must be requested in writing and is not required to be given more than

once every twelve (12) months. The Plan must provide the statement free of

charge.

If you make a written request for certain documents, the Plan may impose a reasonable

charge to cover the cost of furnishing those documents, provided the least expensive means

of reproduction is used. In no event may such charge exceed 25 cents per page. You will be

notified by the Administrative Office of the amount of any charge that applies. Free copies

of certain documents are available online from the CSAC website: https://carpenterssw.org/

Documents can also be provided to you electronically via e-mail upon request. The Plan’s

Form 5500, “Annual Return/Report of Employee Benefit Plan” is available online at

https://www.efast.dol.gov/portal/app/disseminate?execution=e1s1. Any lawsuit filed

under ERISA §502(a) to recover benefits under the Plan or to enforce any rights under ERISA

must be filed within one year of the issuance of a written decision regarding the denial of

benefits following an appeal or other failure to comply with ERISA. Any suit filed against the

Pension Trust must be filed in the appropriate Court in Los Angeles County.

Prudent Actions by Plan Fiduciaries

In addition to creating rights for Plan participants, ERISA imposes duties upon the people

who are responsible for the operation of the employee benefit plan. The people who operate

your plan, called “fiduciaries’’ of the Plan, have a duty to do so prudently and in the interest

of you and other Plan participants and beneficiaries. No one, including your employer, your

union, or any other person, may fire you or otherwise discriminate against you in any way to

prevent you from obtaining a Pension benefit or exercising your rights under ERISA.

Assistance with Your Questions

If you have any questions about your plan, you should contact the plan administrator. If you

have any questions about this statement or about your rights under ERISA, or if you need

assistance in obtaining documents from the plan administrator, you should contact the

nearest office of the Employee Benefits Security Administration, U.S. Department of Labor,

listed in your telephone directory or the Division of Technical Assistance and Inquiries,

Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution

Avenue, N.W., Washington, D.C. 20210. You may also obtain certain publications about your

rights and responsibilities under ERISA by calling the publications hotline of the Employee

Benefits Security Administration.

SECTION 14 – YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974

SECTION 15 – PENSION PLAN TERMS

Following are brief explanations of some basic terms used in this booklet.

Active Participant

An Employee who meets the requirements for participation in the Plan, and excludes a

Retired Employee, Beneficiary, or Vested Participant.

Administrative Office

The Carpenters Southwest Administrative Corporation (“CSAC”), including, as the

context requires, the physical location of CSAC where you would direct all your

communications about your Pension, inquiries about your rights, benefits and

responsibilities, and any notice you may be required to give the Plan or to the Board of

Trustees. The addresses is:

Southwest Carpenters Pension Trust

533 South Fremont Avenue

Los Angeles, CA 90071-1706

Annuity Starting Date

The date your Pension becomes effective.

Beneficiary

A person that has a right to receive benefits following the death of a Participant. See

“Designating a Beneficiary” in Section 10 for more information.

Break in Service

Failure to earn a required minimum of Pension Credit or Vesting Service over specified

periods of time. Unless certain conditions are met, a Break in Service can cause the loss

of an Employee’s previously earned Pension Credit and Vesting Service. For detailed

explanations of what causes a Break in Service, what can make a Permanent Break in

Service, and how breaks can be repaired, see “Break in Service” in Section 5 of this

Summary.

Collective Bargaining Agreement

An agreement entered into by the Union requiring contributions to the Trust for Hours

of Work in Covered Employment.

Covered Employment

Work for which a signatory Employer is required to contribute to the Trust on the

employee’s behalf pursuant to a Collective Bargaining Agreement, Participation

Agreement or Subscribers Agreement.

Employee

A person who performs Covered Employment, or a Special Class Employee.

SECTION 15 – PENSION PLAN TERMS

Employer

A signatory employer that is required to contribute to the Fund on the Employee’s

behalf pursuant to a Collective Bargaining Agreement, Participation Agreement or

Subscribers Agreement, or the employer of a Special Class Employee.

Hours of Service

Includes Hours Worked in Covered Employment and hours paid but not worked, for

example, paid vacation or holidays. However, no more than 501 Hours of Service will

be credited for hours paid but not worked in any continuous period. Two periods of

paid non-work time will be considered continuous for this purpose if they are paid for

the same reason and are not separated by at least ninety (90) days.

“Continuous Non-Covered Employment”—which refers to employment for an

Employer in a job not covered by this Plan which is continuous with Covered

Employment with the same contributing Employer— will also be counted as Hours of

Service. A period of employment that is not Covered Employment will be considered

“continuous” with Covered Employment only if there is no quit, discharge or other

termination of employment between the period of Covered Employment and the

employment that is not covered.

Hours Worked in Covered Employment

The term “Hours Worked in Covered Employment” means hours for which you are paid

or entitled to payment by the Carpenter signatory contributing Employer for actual

performance of duties (and back pay hours intended to compensate you for periods

you would have performed such duties) which are reported or reportable with respect

to the Plan to the Administrative Office by such Employer, at not less than the full

Master Labor Agreement hourly contribution rate, in accordance with a Carpenters

Union collective bargaining agreement and the procedures of the Administrative Office.

Hours performed on or after January 1, 2015 under a Collective Bargaining Agreement

recognized by the Board of Trustees and contributable to the Trust at an average

contribution rate described in Section 6.2(a) of the Pension Plan are also Hours Worked

in Covered Employment.

Master Labor Agreement

The Southern California Master Labor Agreement between United General Contractors,

Inc. and the Southwest Regional Council of Carpenters and Local Unions in the Twelve

Southern California Counties Affiliated with the United Brotherhood of Carpenters and

Joiners of America entered into on July 1, 2006 and any predecessor or successor

thereto. As determined by the Administrative Office in its complete discretion the

Master Labor Agreement shall refer to the generally applicable labor agreement

effective in another state or region within the Southwest Region (outside the 12

Southern California counties) for purposes of determining Hours Worked in Covered

Employment.

SECTION 15 – PENSION PLAN TERMS

Non-covered Employment

Work after November 1, 1992 in the building and construction industry in the

geographical jurisdiction of the Plan (the Southwest Region) for an employer which has

not signed a Collective Bargaining Agreement with the Union or any self-employment

which is not covered by a Collective Bargaining Agreement with the Union. See Section

Normal Retirement Age

Age 65, or, if later, an applicable anniversary date. The anniversary date is the earlier of

(1) the 10th anniversary of participation in the Plan, or (2) the 5th anniversary of

participation in the Plan counting only service on and after January 1, 1988. See

“Vesting at Normal Retirement Age” in Section 4,

Participant

An Employee that has satisfied the conditions for participation. See “How You

Participate in the Plan” in Section 2.

Pension

A type of retirement benefit as described in Section 7.

Pension Credits and Vesting Service Credits

Units used to measure the amount of time an Employee has worked in Covered

Employment. See “How You Earn Pension Credit” in Section 3 and “Vesting Service

Credit” in Section 4 of this Summary. Note that Pension Credit and Vesting Service may

also be earned during certain nonworking periods, under conditions specified in the

Plan. See “Pension Credit during Periods of Temporary Disability or Military Service” in

Section 3.

Pension Plan or Plan or Southwest Plan or SW Plan

The Southwest Carpenters Pension Plan, or, where the context requires, the document

that sets forth the rules and regulations of the Southwest Carpenters Pension Plan that

are applied in determining eligibility for and the amount of any type of benefit payable

to a Participant or Beneficiary.

Plan Year

The twelve consecutive month period beginning on January 1 of any year and ending

on December 31 of the same calendar year.

Prohibited Employment

Employment that would result in the suspension of Pension payments.

Reciprocal Agreement

The International Reciprocal Agreement for Carpenters Pension Funds.

SECTION 15 – PENSION PLAN TERMS

Related Credit

Pension Credits accumulated and maintained by an Employee under a Related Plan.

Related Plan

A pension plan which has executed the International Reciprocal Agreement to which

this Plan is a party.

Required Beginning Date

For distributions required to be made after December 31, 2019: For Participants born

before July 1, 1949, it is April 1 of the year following the calendar year in which you

reach age 70-1/2. For Participants born on or after July 1, 1949, it is April 1 of the year

following the calendar year in which you reach age 72.

Separation from Service

Failure to earn a required minimum of Pension Credit or Vesting Service over specified

periods of time. As a result, an Employee’s previously earned Pension Credit may, upon

retirement, be frozen at the benefit rate in effect at the time of the Separation. See

“Separation from Service” in Section 6.

Single Life Annuity

This is the automatic form of payment for unmarried employees. You would receive a

monthly benefit for your lifetime with a 36-month guarantee. Payments stop upon your

death except that if you die within 36 months of your Annuity Starting Date, the

remainder of the 36 payments will be paid to your designated beneficiary. The benefit

paid under this method is the full monthly amount determined under the pension

formula (but reduced for early retirement, if applicable). A married participant may also

elect this form as an optional payment method with the consent of the spouse.

Southwest Region

The geographical jurisdiction of the Plan and Trust as established under collective

bargaining agreements between the Union and employers for work in the Southwest

Region of the United States. Upon completion of such collective bargaining agreements,

this generally coincides with the jurisdiction of the Southwest Regional Council of the

United Brotherhood of Carpenters, and presently includes the 12 Southern California

counties, Colorado, Nevada, Utah, Arizona, New Mexico and Wyoming (including some

portions of west Texas).

Special Class Employees

Certain special class employees who are not members of a collective bargaining unit

may be Participants in the Plan under special rules in accordance with the Plan and

agreements with the Administrative Office.

Trust or Pension Trust or Trust Fund

The Southwest Carpenters Pension Trust, or, where the context requires, the

Southwest Carpenters Pension Trust Agreement.

SECTION 15 – PENSION PLAN TERMS

Union

The terms “Union” or “Carpenters Union” mean the Southwest Regional Council of the

United Brotherhood of Carpenters and Joiners of America and its affiliated local unions.

Vested

The term “Vested” has the meaning set forth in Section 4.

NOTES

THE

SOUTHWEST

CARPENTERS

PENSION

PLAN

Summary Plan Description

January 1, 2022

BUILDING A BETTER FUTURE

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