Your Annuity Plan Benefit
The Annuity Plan, a defined contribution Plan, was established as a result of the Collective Bargaining Agreements between the Unions of the United Brotherhood of Carpenters and Joiners of America and Employers. Copies of the Collective Bargaining Agreements may be obtained from the Fund Director upon request. Contributions to the Northeast Carpenters Annuity Fund are "profit sharing" contributions under the Internal Revenue Code.
The Northeast Carpenters Annuity Fund is administered by a joint Board of Trustees consisting of an equal number of union-designated trustees and employer-designated trustees. An Executive Finance Committee consisting of union and employer designated trustees functions between meetings of the Board of Trustees. In addition, an Administrative Manager functions between meetings of the Executive Finance Committee and the Board of Trustees. The Trustees are responsible for the administration of the Annuity Plan and their decisions are final. The Plan's fiscal year ends December 31st.
NCF Annuity Funds Assets & Allocation as of December 31, 2020
|Assets||Current Balance||Current Allocation|
|Interest Bearing Cash||$34,400,246||1.96%|
|U.S. Government Securities||$10,161,458||0.58%|
|Corporate Debt Instruments - Preferred||$142,638,838||8.11%|
|Partnerships/Joint Venture Interests||$264,117,076||15.03%|
|Common/Collective Trust Funds||$120,924,292||6.88%|
|Pooled Separate Accounts||$28,454,318||1.62%|
|Registered Investment Companies||$34,883,132||1.98%|
Annuity Balance Interest Rate is 16.11%
The Board of Trustees of the Northeast Carpenters Fund approved this rate of return for the 2021 Plan Year.