Commuted Value
The lump sum value equivalent to your earned pension, calculated in accordance with procedures prescribed by the pension legislation.

Hours of Covered Employment
Hours of employment for which a contribution is reported and paid by a participating employer, or hours credited as a result of a self-payment.

Participating Employer
An employer who contributes to the Plan at the rate or rates specified in a collective agreement with the CMAW Council of Carpenters, or an agreement with a participating local union.

Participating Local Union
A local union affiliated with the CMAW Council of Carpenters that is participating in the Plan.

“CMAW Benefit Plan”.

Plan Year
The 12 month period from July 1st in one year to June 30th in the next year.

A person who, at the date of determination, was married to you and had not lived separate and apart from you for more than 2 years, or if there is no person the above applies to, a person who lived with you in a conjugal relationship for a two-year period immediately before the date on which the benefit entitlement is determined.

Totally and Permanently Disabled
Means because of a medically determined physical or mental impairment, you cannot engage in any substantially gainful occupation or employment for which you are reasonably qualified by education, training or experience, and there is no reasonable expectation that you will recover from the disability.

Unit of Pension
The pension earned for each 350-hour block of employer-paid hours or each 350-hour block purchased by self-payments during a Plan Year.

Year of Pension Credit
– 2 Plan Years completed before July 1st, 1989, in which you have earned some pension, or 5 full units of pension earned before July 1st, 1989, whichever is greater, or
– 5 full units of pension earned after June 30th, 1989 up to June 30 2011.
Units of pension purchased by self-payments do not count towards a year of pension credit.

Yearly Maximum Pensionable Earnings
The limit on earnings recognized for the purposes of the Canada Pension Plan.

Year of Pension Service
Means any year in which you have 350 hours. See your Annual Statement to see how many years of pension service you have.