DEFINED CONTRIBUTIONS

Changes To Your Annuity

The Indiana/Kentucky/Ohio Defined Contribution Pension Plan and the Ohio Carpenters Annuity Plan are merging to become the Central Midwest Regional Council of Carpenters Defined Contribution Fund (CMRCC Fund). The CMRCC Fund has retained John Hancock as its recordkeeper with BeneSys continuing to serve as administrator. Plan trustees have taken the best benefits of both plans to go into effect September 2024.

Highlights of benefit changes:

Retirement Age
Normal retirement age for the annuity is lowered from 65 to 62.
Termination Benefit
Previously, one could not have received contributions within 18 consecutive months. That has been reduced to just 12 months now.
Forms of Payment
Payments can now be distributed as a lump sum or quarterly payments for the lifetime of the participant.

Review for more details:

If you have additional questions regarding the defined contribution, please contact John Hancock directly.

DEFINED CONTRIBUTIONS

Changes To Your Annuity

Highlights of benefit changes:

Retirement Age

Termination Benefit

Forms of Payment

About CMRCC

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