How do I find out how many pension credits I have?

You will receive an annual pension statement reflecting your work history and the total number of pension and vesting credits earned or you can register for the Member Self-Service portal where you can access your information on your phone, computer or iPad. You can also contact the Fund Office directly.

What does "vested" mean?

When you are vested, you are guaranteed a pension at retirement. You are considered vested if after, 1/1/2021, you’ve earned five years of vesting service.

If I retire early, will my pension be less?

Yes, if you start your pension prior to age 62 (or 65, depending on your work history), the monthly amount will be reduced to account for the fact that you will receive a monthly benefit over a longer period of time. There are some exceptions, such as the service and disability pension types for all participants or the Rule of 85 at minimum age 55 for New York Participants. Please contact your Fund Office for more information at one of the following numbers:
(800) 344 – 1515 (New England)
(800) 922 – 6026 (Connecticut)
(877) 372 – 3236 (New York)

What happens if I get married?

If you get married before your pension starts, your spouse will become your automatic beneficiary after you have been married for one year. If you get married after your pension starts, your pension benefit will not change. Don’t forget to contact the Fund Office if your marital status changes.

When are pension payments made?

Your monthly pension payment(s) are electronically deposited in your bank account on the first business day of the month.

Do I have to pay taxes on my pension?

Yes. The monthly pension payments you receive from the Plan are taxable. You will receive more information on tax withholding when you become entitled to the distribution.

How do I earn vesting credit?

Vesting credit is earned based on the number of hours you work in a plan year.

For New England: As of 1/1/2019 – 840 work hours in a year equals 1.0 vesting credit.
For New York: As of 4/1/1999 – 1000 work hours in a year equals 1.0 vesting credit.

What is a Break in Service?

New England
If you stop working in covered employment and you are NOT vested when you leave, after FIVE YEARS you will incur a Break in Service and lose all the pension and vesting credits earned prior to the Break.

New York
A Break in Service occurs in any calendar year during which you fail to earn at least 500 Hours of Service.

When can you retire?

New England

  • Normal Pension
    Age 62 with 10 pension credits
  • Service Pension
    Any age with 30 pension credits- No reduction for age
  • Vested Pension
    Age 62 with 5 vesting credits
  • Early Retirement
    Age 55 with a minimum of 10 credits- Reduced for age
  • Disability Pension
    At any age with either 10 pension credits or 10 years of vesting service

New York

  • Normal Pension
    Age 65 with 5 Vesting Credits
    Age 62 with 10 Vesting Credits
  • Rule of 85
    You are an Active Participant who is at least age 55; and
    The sum of your attained age on your last birthday and years of Vesting Service equals at least 85.
  • Vested Pension
    Age 65 with 5 Vesting credits
  • Early Retirement
    Age 55 and have earned at least 10 years of Vesting Service
  • Disability Pension
    You are Totally and Permanently Disabled
    You have not yet attained Normal Retirement Age as of the date you became Totally and Permanently Disabled
    You have earned at least 5 years of Vesting Service
    You provide a copy of your Social Security Disability Notice of Award
    You are an Active Participant and you complete and file and Application with the Fund office.
  • Required Beginning Date
    As of January 1, 2024 your required beginning date is April 1 following the calendar year in which you turn age 73.

What are the Pre-Retirement Death Benefits?

New England

Benefits accrued after January 1, 2021
Married Participants:
50% Participant Spouse Option or 75% Participant Spouse depending on the total pension credits earned.

Single Participants:
60 Payment Guarantee or 120 Payment Guarantee depending upon the total pension credits earned.

For Pre-Retirement Death Benefits for accruals prior to 1/1/2021, please contact the Fund Office.

New York

Benefits accrued after January 1, 2016
Married Participants:
Your Surviving Spouse will receive a lifetime benefit equal to the amount you would have received as a 50% Joint and Survivor Annuity

Single Participants – Actives Only:
Pre-Retirement 60-month Death Benefit will be paid in a single lump sum payment in an amount equal to 60 times the monthly amount of your accrued benefit.

Can you continue to work after you retire?

New England

Before Age 62
You cannot work in any capacity in the Building and Construction Industry except for positions such as:

  • Clerk of the Works
  • Building Inspector, Construction Inspector, or Home Inspector
  • Part-time Instructor for the Apprenticeship Training Fund (39 hours per month)
  • Vocational Education Instructors
  • Persons Involvement in the training or pre-training of carpenters for non-profit entities such as Youth Build and Habitat for Humanity

If you are contemplating a job, submit the job description to the Fund Office for review.
You will be notified if the type of work you are interested in is acceptable.

New York

Before Age 62
Benefits are suspended for any month you work more than 40 hours of service in Disqualifying Employment

From Age 62 until Age 65
You may earn up to the annual Social Security earnings limit without having your benefits suspended. After you reach that limit in a Plan Year, benefits are suspended for any month you work more than 40 hours of service in Disqualifying Employment.

After Age 65
No suspensions for work on and after Age 65

What if I worked under another Pension Plan?

If your years of employment have been divided between this Pension Plan and other Carpenters’ Pension Plans that have signed the National Carpenters Pro-Rata Agreement, you may be eligible for a partial pension. Please contact the Fund Office to speak to a member services representative.
800-344-1515 (New England) – Ext. 2 for Spanish
800-922-6026 (Connecticut) – Dial *2 for Spanish
877-372-3236 (New York) – Ext. 1 for Spanish

How early can I apply for my pension?

You can file your pension application 180 days in advance of your pension effective date.