Northwest Carpenters Health and Security Plan

Eligible Participants and Dollar Bank Eligibility 

To be eligible for benefits, you must have enough money in your dollar bank account to purchase eligibility as described below. Associate employees are also subject to the same eligibility rules. Eligibility rules for Retiree Coverage are provided in Retiree Eligibility and Enrollment.

Dollar Bank Account

Under dollar bank eligibility, each participant has his or her own dollar bank account. Employer contributions made on your behalf will be added to your dollar bank account. Your current and future eligibility will be calculated based on the balance of this account.

Employer Contributions

Employers contribute to the plan on your behalf at the rate set by the collective bargaining agreement or written contribution agreement. The amount credited to your dollar bank account equals the hourly contributions received less any amount credited to reserve funding as determined by the Board of Trustees.

Initial Eligibility

If you are new to the plan or you have not had dollar bank eligibility for 12 consecutive months or more, you earn initial eligibility as follows:

• The hourly contributions from your employer(s) are added to your dollar bank account.
• The current amount required for one month of eligibility is $1,050. That amount is known as your “dollar bank deduction.” For initial eligibility, your employer must contribute $3,150 or more into your dollar bank account within a six-month period ($1,050 per month x 3 months = $3,150). At least $1.00 of contributions must be earned in the first four months of the six-month period.
• After your dollar bank account reaches $3,150, there is a “lag month.” This is the time required for your employer to send updated contribution records to the plan and the time required for the plan to process those records.
• You are then eligible for benefits on the first of the month following the lag month, for a three-month period.

For example, if you work 160 hours per month in January, February and March and the contribution rate to your dollar bank is $9.00 per hour, your dollar bank will accumulate $4,320. Because your dollar bank has at least $3,150, you will be eligible for at least a three-month period beginning on the first day of May. April is the lag month. After your three months of eligibility (May, June, July), you must have at least $1,050 in your dollar bank to be eligible for the fourth month (August), and so on for future months.

Continuing Eligibility

The cost for one month of eligibility is currently $1,050. In general, the monthly deduction from your dollar bank account is made no later than the month before the month of eligibility.

Maximum Dollar Bank Amount

The maximum dollar amount you can have in your dollar bank account is currently $8,400. This amount currently provides eight months of future eligibility.

The monthly dollar bank deduction and the maximum dollar bank balance are subject to change by the Board of Trustees.

When Eligibility Ends

Your eligibility ends on the first day of any month your dollar bank has less than the amount required to buy one month of eligibility. For example, if you have less than $1,050 in your dollar bank in July, you will not have eligibility in August.

If you lose eligibility under the dollar bank system, you may qualify for continuation coverage provided certain conditions are met. For the plan’s continuation coverage options click here.

Reinstatement of Eligibility

If your dollar bank eligibility ends because you have less than the amount required to buy one month of eligibility, then your dollar bank balance will be preserved for 12 months. If you return to work no later than the eleventh month and the contributions for your work in the eleventh month are enough to provide one month of dollar bank eligibility, your dollar bank eligibility will be reinstated on the first day of the thirteenth month.

Forfeiture of Balances of Less Than the Monthly Dollar Bank Deduction Rate

If you do not regain dollar bank eligibility within the timeframe described above, your dollar bank will be permanently forfeited and you will need to satisfy the plan's initial eligibility conditions.

Last Updated: 11/13/2023