Eastern Atlantic States Annuity Fund Profit Sharing Account

Annuity Plan Year runs January 1st -December 31st

Your Annuity Benefit is expressed as an accumulation account that grows each year due to contribution credits and interest credits. It is a multiemployer, individual account Defined Contribution Plan, and a Profit-Sharing account which means interest is based on the Plan’s investment earnings. Investments are Trustee-directed.

You shall become a Plan Participant when your employer is required to make contributions to the Annuity Fund on your behalf pursuant to a written agreement between the Union and your employer.  All  participants of the Carpenters Savings Plan of Philadelphia & Vicinity as of December 31, 2022, automatically became Eastern Atlantic States Carpenters Annuity Plan Participants as of  January 1, 2023.  You are always 100% vested in your individual account.

The Eastern Atlantic States Annuity Fund is a Profit Sharing Account, which means interest is based on the Annuity Plan's investment earnings.


Most of the accounts are invested in stocks, bonds, real estate and other investment vehicles by professional Investment Managers selected by the Trustees with the advice of a professional Investment Advisor.  These are valued once each year on December 31st (“The Valuation Date”) or more frequently, at the discretion of the Trustees.

Investment Options

The assets in your account are invested by the Trustees as described above.

View Annuity Fund Asset Allocation

Post-merger EASCAF will allow distributions for the following reasons:

  • Retirement or Death
  • Total & Permanent Disability
  • 12 months after Separation of Service
  • In-Service at Age 59 ½
  • Qualified Domestic Relations Order (“QDRO”)
  • Hardship Withdrawal
    • Medical Expenses
    • Purchase or Construction of Principal Residence
    • Home improvements due to Catastrophic Life Events
    • Educational Fees
    • To Prevent Eviction from Principal Residence or Foreclosure of mortgage
    • Funeral Expenses.

Learn more about Hardship Withdrawals

Philadelphia Annuity Plan and New Jersey Money Purchase Accounts

Carpenters Benefit Funds of Philadelphia Legacy Annuity Account Balance

All Annuity Contributions for hours up through December 31, 2022 will be considered a separate Legacy Annuity Account.

Northeast Carpenters Funds Money Purchase Account

There is no change to the NCF Annuity Money Purchase Account. These are the pre-2009 contributions.

The Eastern Atlantic States Carpenters Annuity Fund had a 5.88% rate of return for the Plan Year, January 1, 2023 through December 31, 2023.

Annual Annuity Interest Calculation
  • Beginning Balance
  • - Minus Payouts
  • - Minus the Administration Fee
  • The remaining balance is then multiplied by the Interest Rate

Example Calculations

Annuity Plan FAQs