Southwest Carpenters Annuity

Work Union - Retire Better

Retirement may seem far away but it is closer than you think and it is never too early to plan.

Union Carpenters, Drywallers and Millwrights participant in the Southwest Carpenters Annuity when working under certain Labor Agreements in Nevada, Southern California, Arizona and Colorado.

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Enrolling In the Plan

Enrolling In the Plan

How To Register With Prudential Retirement

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Your Investments

Your Investments

By registering with Prudential Financial at swcarpentersannuity.org you will have up to date access to view your annuity account balances and to view or direct your investments.

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Accessing Your Annuity Fund

Accessing Your Annuity Fund

The balance in your Annuity belongs to you starting with the first contribution but because this is a retirement account, your funds can only be withdrawn if certain events occur.

Forms of Payment

When To Apply For Benefits

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Forms Of Payment

Forms Of Payment

In accordance with Federal Law, the Plan will automatically pay your benefits in one of the two automatic forms of payment described below, depending on your marital status when you receive your benefits. If you prefer, you and your spouse may reject this form of payment and elect one of the optional forms described below.

Married Participants

Unmarried Participants

Irrevocable Form of Payment

Optional Forms of Payment

  1. A lump sum payment (automatic if the value of your account is less than or equal to $5,000.00).
  2. Monthly installments not to exceed five years.
  3. A combination of (i) and (ii).
  4. 75% joint and survivor annuity (only if married). The value of your account will be converted to monthly payments to you for your lifetime, and upon your death, 75% of such monthly payments will continue to your surviving spouse for the rest of their lifetime.
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Taxes

Taxes

Federal Law requires that the Board provide you with a timely "Special Tax Notice Regarding Plan Payments," which describes your rights and obligations regarding rollovers and withholding requirements.

Mandatory 20 Percent Withholding.

10% Percent Additional Penalty Tax.

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Payment Upon Death

Payment Upon Death

If you should die before receiving payment of your Accumulated Share, your Accumulated Share will be paid as follows:

Married Participants

Unmarried Participants

Beneficiary

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Divorce Decree/Domestic Relations Orders

Divorce Decree/Domestic Relations Orders

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For More Information

For More Information

Annuity Summary Plan Description

2021 Annuity SMM

Contact the Fund Office

Monday-Friday 8:00 am to 5:00 pm (PST) at:

(213) 386-8590
or
(800) 293-1370

swannuity@carpenterssw.org

Contact Prudential Financial

Monday-Friday 5:00 am – 6:00 pm (PST) at:

877-PRU-2100 (877-778-2100)

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