Retirement - Mid-America Carpenters Regional Council Benefit Funds
Carpenter Retirement Benefit Options
When you retire, you may be eligible for one of the following types of benefits:
Regular Pension if:
See how a Regular Pension is calculated
- You are at least age 65; and
- You are vested.
Early Retirement Pension if:
See how an Early Retirement Pension is calculated
- You are age 60 but younger than age 65; and
- You are vested.
Disability Pension if:
See how an Disability Pension is calculated
- You have at least 10 Years of Pension Credit, or
- You earned at least ¼ credit in the calendar year when you became disabled or during any or the immediately preceding
two consecutive calendar years; and
- You submit
that you are
Totally and Permanently Disabled.
- There are some
to disability pension benefits.
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 earned at least one pension credit after 1975; and
- You are eligible for a Partial Pension form at least one other carpenters’ pension fund under a reciprocal agreement,
- 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 Pension Fund (Construction
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 Construction Pension Fund
are treated as pension credit under this Plan, and
- You are eligible for a Limited Pension from the
Construction Pension Fund.
The Plan also allows for the
Partial Lump Sum Benefit Option
whereby you can receive additional money initially upon retirement.
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?