Member Benefits - Annuity Fund Plan

Signatory employers make contributions to each member's personal Guaranteed Annuity Fund account as outlined in the various collective bargaining agreements. Using a predetermined formula, the Fund provides a guaranteed return (interest rate) on each member's account balance. Some years members also receive a bonus in addition to the guaranteed return.

A member may begin collecting benefits under the following conditions:

• Retiring from the industry
• Not participating in the Plan for 24 consecutive months
• Becoming permanently and totally disabled as a carpenter

After 12 months, members are eligible for loans of up to 50% of their individual account balances ($50,000 max) for the following reasons:

• Medical expenses not covered by insurance
• Funeral expenses
• Tuition expenses
• Delinquent mortgage, rent, or real estate taxes
• Purchase of COBRA benefits
• Purchase and/or remodeling of a primary residence
• Temporary disability (if not receiving Worker's Compensation)

For more information about Annuity benefits, please contact your Local Fund office:

Connecticut Annuity Benefits
Massachusetts Annuity Benefits
Northern New England Annuity Benefits
Rhode Island Annuity Benefits