EARNING A RETIREMENT BENEFIT
As a participant in the North Atlantic States Carpenters Pension Fund, you can earn a retirement benefit that will provide you with a monthly income when you retire or stop working due to a disability. Your pension will help supplement your Social Security benefit, personal savings, and annuity benefit. This benefit is based on contributions made to the Pension Fund by your employer on your behalf. You cannot contribute to the Fund.
FILING FOR YOUR BENEFIT
You must file your Pension application before the effective date. Your Pension will always be effective the first day of the month. For more information or forms to apply for benefits, please contact your Fund Office at one of the following numbers:
800-344–1515 (New England)
800-922-6026 (Connecticut)
877-372–3236 (New York)
Benefit Options at Retirement
New England:
Options available for benefits accrued after January 1, 2021:
- 50% Participant Spouse Option
- 75% Participant Spouse Option
- 100% Participant Spouse Option
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If you are Married:
Participant Spouse Options have a 24-month pop-up provision where if your spouse dies within 24 months of your starting date, the benefit will pop-up to the Five Year Certain and Life Option.
- Five Year Certain and Life Option – payable for your lifetime or a 60-payment guarantee.
- Ten Year Certain and Life Option – payable for lifetime or 120-payment guarantee.
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If you are not Married:
*Legacy New England, Connecticut, and Rhode Island Pension Plans have different benefit options for credits earned prior to January 1, 2021. Please contact the Fund Office for details.
New York:
Benefit Options at Retirement
- 50% Joint and Survivor Annuity
- 75% Joint and Survivor Annuity
- 100% Joint and Survivor Annuity
- Five Year Certain and Life Option – payable for your lifetime or a 60-payment guarantee.
- Ten Year Certain and Life Option – payable for lifetime or 120-payment guarantee
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If you are Married:
- Five Year Certain and Life Option – payable for your lifetime or a 60-payment guarantee.
- Ten Year Certain and Life Option – payable for lifetime or 120-payment guarantee.
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If you are not Married: