When you stop working, your balance in the Supplemental Retirement Plan will be available to be paid to youwhen you reach a “Settlement Date,” which means you either:
- Qualify for and begin receiving benefits from the Mid-America Carpenters Regional Council Pension Plan, the Mid-America Carpenters Regional Council Millmen Pension Plan or another similar industry pension fund; or
- Have not received a Plan contribution for the previous 24 consecutive months; or
- Have not received a Plan contribution for the previous 12 consecutive months and your account balance is less than $5,000; or
- Reach Normal Retirement Age (age 60); or
- With respect to assets transferred from the Carpenters Local 496 Supplemental Retirement Fund, you reach age 55 and terminate employment either with an employer required to make contributions to the Trust Fund on your behalf, or with an employer not required to make contributions to the Fund but is: (1) within what was the Carpenters Local 496 jurisdiction; and (2) in a job classification or trade for which an employer would have been required to make contributions on the employee’s behalf (including self-employment).