For Participants > Fund Information > Annuity

The Carpenters Annuity Trust Fund for Northern California, established in August 1981, is a defined contribution pension plan. As a defined contribution plan, an Individual Account is established for each Participant. The benefits are based on the Employer amounts contributed and are also affected by income, expenses, gains and losses. These benefits are intended to supplement retirement benefits accrued under the Carpenters Pension Trust Fund for Northern California, which is a defined benefit plan.

The information provided by this website is presented in summary fashion. The Rules and Regulations of the Plan govern the administration of all benefits.

Only the full Board of Trustees:

  • is authorized to interpret the Plan Rules and Regulations;
  • has the authority to modify or change the rules of the Plan;
  • may give binding answers, and then only if you have furnished full and accurate information concerning your situation in writing;
  • shall be the sole judge of the standard of proof required in any case and the application and interpretation of this Plan;
  • shall render decisions final and binding on all parties, subject only to such judicial review as may be in harmony with federal labor policy.

No Employer or Union nor any representative of any Employer or Union is authorized to interpret the Plan on behalf of the Board -- nor can these persons act as an agent of the Board of Trustees. Benefits are paid in accordance with the Plan Rules and Regulations. All other documents, including the Summary Plan Description, are interpretations of the Plan Rules, and in the event of a discrepancy, the Plan Rules prevail.

This defined contribution pension plan does not provide for loans or in-service distributions (including hardship withdrawals). However, retired Participants eligible to withdraw their Individual Accounts have a variety of payment options available.

Play a Role in the Investment of Your Annuity Individual Account: The Carpenters Annuity Trust Fund for Northern California Self-Direct Program

The Board of Trustees directs the investment of most Individual Account balances. However, a Participant has the option to self-direct his or her Individual Account within a limited number of mutual funds after participating in an online educational seminar.

The Annuity Fund's online educational seminar gives you basic investment tools in order to make more informed decisions, should you elect to self-direct any portion of your Annuity contributions into any of the mutual fund options provided under the Self-Direct program.

Once you have completed the online Self-Direct seminar and a Self-Direct Transfer Form you will be eligible to self-direct your Annuity through the John Hancock Retirement Plan Services program, MyLifeNow™.

The Self-Direct option was created for participants who want a little more freedom with the investment of their Annuity contributions. To learn more about the option to self-direct you can take the online Self-Direct seminar. You are not obligated to transfer your monies if you take the seminar, but it will make you eligible to, should you desire to do so now or in the future.

Investment Review

Performance as of 6/30/2018

Forms, Documents & Other Resources



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