Retirement - Mid-America Carpenters Regional Council Benefit Funds

Carpenter Retirement Benefit Options

Retirement / Construction Pension Fund / Benefit Options

When you retire, you may be eligible for one of the following types of benefits:

Regular Pension if:
  • You are at least age 65; and
  • You are vested.
See how a Regular Pension is calculated
Unreduced Early Retirement Pension if:
  • You are age 60 but younger than age 65; and
  • You are vested.
See how an Unreduced Early Retirement Pension is calculated
Early Retirement Pension if:
  • You are at least age 55 but not yet age 60; and
  • You are vested.
See how an Early Retirement Pension is calculated
Disability Pension if:
  • You have at least 15 Years of Pension Credit, or
  • You have at least 10 but less than 15 years of pension credit if you earned at least ¼ credit in the calendar year when you became disabled or during any or the immediately preceding five consecutive calendar years; and
  • You submit evidence that you are Totally and Permanently Disabled.
  • There are some exclusions to disability pension benefits.
See how a Disability Pension is calculated
Partial Pension if:
  • You do not qualify for a pension because your employment is divided between this Pension Plan and other carpenters’ pension funds subject to a reciprocal agreement, and
  • You would be entitled to a benefit if your combined years of service under this Plan and other plans are treated as pension credit under this Plan, and
  • You are eligible for a Partial Pension form at least one other carpenters’ pension fund under a reciprocal agreement, and
  • You must begin received benefits under the other plan.
Limited Pension if:
  • Your employment is divided between this Plan and the Mid-America Carpenters Regional Council Millmen Pension Fund; and
  • You are at least age 60, and
  • You would be entitled to a benefit if your combined years of service under this Plan and the Millmen Pension Fund are treated as pension credit under this Plan, and
  • You are eligible for a Limited Pension from the Millmen Pension Fund.

The Plan also allows for optional forms of payment where you can receive additional money initially upon retirement or in the months prior to when you begin receiving Social Security benefits. These options are the Partial Lump Sum Benefit Option and the Level Income Option.

In addition, your monthly benefit amount may be reduced if you decide to provide for a lifetime benefit for your spouse. These options are called Joint & Survivor Benefits.

How do I apply for Retirement Benefits?

Questions?

Contact the Retirement Benefits Department

(312) 787-9455, menu option 4
Monday – Friday, 8:00 a.m. – 4:30 p.m.
retirement@carpenterbenefits.org