DEFINED CONTRIBUTIONS

Changes To Your Annuity

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

Highlights of benefit changes:

Early Retirement
Early retirement age for the annuity is lowered to from 55 to 50 (or rule of 80).
Forms of Payment
For the quarterly payment option, the max limit changes from 10 years to a lifetime.
Hardship Distributions
Where there were previously no benefits, members now have IRS safe harbor options for certain extraordinary circumstances.

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:

Early Retirement

Forms of Payment

Hardship Distributions

About CMRCC

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