News

Update for Oregon/SW Washington Trust Participants

Important information will be landing in the mailboxes of Oregon/Southwest Washington Trust participants starting Tuesday, June 15th.

  • The Trustors and Board of Trustees of the Oregon-Southwest Washington Carpenters Trusts and the Board of Trustees of the Western Washington Carpenters Trusts agreed to merge their trusts and fringe benefit plans, effective July 1, 2021.
  • This merger will positively impact participants from both trusts by:
    • Improving portability of benefits for participants working in multiple jurisdictions.
    • Creating greater administrative efficiency and less confusion: it will be easier for participants, retirees, business agents, trustees, etc. to contact a single office for information and assistance.
    • Lowering administrative expenses due to increased negotiating power with plan vendors and slashing costs associated with necessary consultants (attorneys, actuaries, investment).
  • Critical details are in the mailing, and:
    • Members of Regence/BCBS will experience little to no changes to their medical providers or other plan-related benefits. You will be mailed a new ID card in August and effective September 1st, members will need to share with providers for coverage.
    • Members of Kaiser Permanente will not experience any changes to service or plan information.
    • Retirees receiving a monthly pension benefit will continue to receive those with no change. Existing accruals for those still working will transfer to the new plan without change. Benefits earned on and after 7/1/2021 will accrue under the Carpenters Retirement Plan.
    • If you have a 401(k) it will continue mostly uninterrupted. Accounts will be mapped to the Carpenters Individual Account Pension Plan investments in late July with a short blackout period. Members will benefit from reduced administrative fees under the new plan.

For complete information call the Trust at (206) 441-6514 or visit their website.

Did You Know?

UBC emblem and motto.

The official emblem of the United Brotherhood of Carpenters and Joiners of America was adopted at the Fourth General Convention in Cincinnati, Ohio, August 1884. The motto inscribed therein, “Labor Omnia Vincit,” translated from Latin means “Labor Conquers All Things.” Learn More

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