Am I automatically 100% vested?

No. A participant’s annuity benefit is 100% vested when one of the following conditions are met:

  1. A participant reaches three (3) years of Vesting Service,
  2. A participant attains Normal Retirement Age, which is the later of age 62 or the 5th anniversary of the anniversary date the individual became a participant, or
  3. The participant is 100% vested in any defined benefit pension that provides retirement benefits for employees represented for the purpose of collective bargaining by one or more Local Unions or Councils affiliated with the United Brotherhood of Carpenters and Joiners of America.

A participant will be considered vested upon death or Disability as defined in the plan.

A participant will be credited with Vesting Service based on the following:

  1. A “Year of Vesting Service” is 1,000 Hours of Service, beginning at one-thousandth (.001) of a Year up to a maximum of 1 year of Vesting Service per Plan Year.
  2. Non-forfeited Vesting Service from any of the following funds earned before the individual became a participant under the Plan may be used to fulfill the Plan’s vesting requirement: Carpenters’ Pension Trust Fund of St. Louis, the Carpenters’ Pension Trust Fund of Kansas City, the Kansas Construction Trades Open End Pension Trust Fund, and/or the Carpenters Pension Fund of Illinois (Geneva)

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