Improvement to Pension Fund

06.07.2022 jwatson

Brothers and Sisters,

There has been an improvement to the NYCDCC Pension Fund that will benefit our union members. On or about July 1, 2022, the current applicable benefit rate (“ABR”) for each benefit credit earned prior to January 1, 1999 will increase by 25% for active Participants and Participants in pay status. For example, the flat $80 benefit rate will increase to $100; a $70 benefit rate will increase to $87.50.  For this benefit improvement, an “active” Participant is defined as any member who meets the requirements for participation in the Plan on or after July 1, 2022. A “Participant in pay status” is defined as any pensioner or beneficiary in pay status as of July 1, 2022. The value of Surviving Spouse benefits for your Qualified Spouse after your passing will also increase in accordance with the option chosen at the time of your retirement, if applicable.

Click Here to Read More on the Benefit Funds website: Board of Trustees Approves Benefit Improvement for NYCDCC Pension Fund Participants : The New York City District Council of Carpenters Benefit Funds (]