Detroit Carpenters’ Pension Plan Pension Recovery Program

Updates and Events

  • 2024
    Nov 07

    SFA Funding Received

    Today, the Detroit Carpenters Pension Plan received $635,030,405.50 in Special Financial Assistance funding and interest from the PBGC. These funds will immediately be invested following SFA program requirements and used to pay monthly participant benefits. 

     

  • 2024
    Oct 17

    SFA Approved!

    This morning, Acting Secretary of Labor Julie Su officially announced the approval of our application for Special Financial Assistance in the amount of $635 Million, ending the threat of MPRA benefit cuts, preserving the hard-earned pensions of more than 22,500 participants, and putting the pension fund on a realistic path toward true sustainability. 

  • 2024
    Jul 09

    Revised SFA Application Filed

    Today, the Detroit Pension Plan submitted our revised application for special financial assistance By law, the PBGC will have 120-days to review the revised application, with a deadline of November 6, 2024.

  • 2024
    Jun 09

    SFA Withdrawal and Refiling Tele Town Hall

    Trustees announced and explained why the previously filed application for Special Financial Assistance was withdrawn and will shortly be refiled in order to update the valuation of certain hard to value assets and reconcile additional death audit requirements put in place after our original filing.

  • 2024
    Feb 18

    SFA Application Tele Town Hall

    Trustees announced the filing of our application for Special Financial Assistance and provided a preliminary estimated timeline for the application to be processed (within 120-days from submission), and for payment to be issued upon approval (within 45-days of approval).

  • 2024
    Feb 14

    ARPA SFA Application Portal Open

    On 2/14/2024, the PBGC opened the application portal to the Detroit Carpenters Pension Plan to file our application for Special Financial Assistance (SFA) under ARPA (American Rescue Plan Act). The funds professionals filed our plan. 

  • 2023
    Mar 13

    SFA Lock-in Application and Wait List Confirmed

    The Fund's "Lock-in" application was confirmed and found to be in order by the PBGC. The "Lock-in" application sets the date used for the calculation of assistance and provides that interest will be paid on the amount of assistance between from the Lock-In Date through the disbursement of funds. Separately, the PBGC acknowledged receipt of our wait-list request. (3/17/2023 update: the Fund was placed at #27 of 100 on the wait list.

  • 2023
    Mar 11

    Lock-in Application and Wait List Request Filed

    Following guidelines from the PBGC, the plan today filed a "Lock-in" application that sets a date certain that will be used to calculate our Special Financial Assistance benefit amount. This allows us to complete our application materials without having to continually update financials based on when we are allowed to file. Filing the "Lock-in" application also triggers the accrual of interest from the Lock-in date until assistance is actually paid. Additionally, we filed our wait-list request which will determine the order in which pension plans seeking assistance will be allowed to apply. 

  • 2021
    Sep 12

    ARPA Relief Telephone Town Hall

    The Trustees explained the decision to withdraw our MPRA application and to pursue relief through ARPA instead. We will host additional Telephone Town Halls and share information in many other ways as we learn more about where we stand in the ARPA application process.

  • 2021
    Aug 30

    Trustees Elect to Withdraw MPRA Application

    Trustees vote to withdraw the plan’s MPRA application effective August 30, 2021, in favor of pursuing ARPA funding assistance.

  • 2020
    Oct 28

    Revised Pension Recovery Program Available on Treasury Website

    The revised Pension Recovery Program application that the Trustees submitted to the Treasury Department is now available on the Treasury website's MPRA application page. You can read or download the entire Pension Recovery Program application. You can also comment on the the revised Pension Recovery Program application and read others' comments on the Treasury Department website. You have until December 11, 2020, to submit a comment. The Treasury Department's MPRA application page defaults to show the applications in alphabetical order, with only the first 10 entries on the first page. You can expand the number of entries shown on the page, click on the link at the bottom of the chart to go to the next page, or change how the chart is sorted in order to find the "Carpenters Pension Trust Fund - Detroit & Vicinity (2nd Application)" row.

     

  • 2020
    Oct 25

    Local 1102 Telephone Town Hall Meeting

    In order to communicate with participants safely, we are holding several Tele-Town Hall meetings in October to explain our plan and answer your questions. You may join any meeting that fits your schedule. You can join another Local Union meeting if that is more convenient. To join the Tele-Town Hall, answer the phone when it rings or call 800-460-1205. The schedule for the meetings is below.

    • All Participants: Sunday, October 4 at 7 pm
    • All Apprentices: Tuesday, October 6 at 7 pm
    • Local 1045: Sunday, October 11 at 7 pm
    • All Retirees: Wednesday, October 14 at 11 am
    • Local 687: Sunday, October 18 at 7 pm
    • Local 1234: Thursday, October 22 at 7 pm
    • Local 1102: Sunday, October 25 at 7 pm

  • 2020
    Oct 22

    Local 1234 Telephone Town Hall Meeting

    In order to communicate with participants safely, we are holding several Tele-Town Hall meetings in October to explain our plan and answer your questions. You may join any meeting that fits your schedule. You can join another Local Union meeting if that is more convenient. To join the Tele-Town Hall, answer the phone when it rings or call 800-460-1205. The schedule for the meetings is below.

    • All Participants: Sunday, October 4 at 7 pm
    • All Apprentices: Tuesday, October 6 at 7 pm
    • Local 1045: Sunday, October 11 at 7 pm
    • All Retirees: Wednesday, October 14 at 11 am
    • Local 687: Sunday, October 18 at 7 pm
    • Local 1234: Thursday, October 22 at 7 pm
    • Local 1102: Sunday, October 25 at 7 pm

  • 2020
    Oct 18

    Local 687 Telephone Town Hall Meeting

    In order to communicate with participants safely, we are holding several Tele-Town Hall meetings in October to explain our plan and answer your questions. You may join any meeting that fits your schedule. You can join another Local Union meeting if that is more convenient. To join the Tele-Town Hall, answer the phone when it rings or call 800-460-1205. The schedule for the meetings is below.

    • All Participants: Sunday, October 4 at 7 pm
    • All Apprentices: Tuesday, October 6 at 7 pm
    • Local 1045: Sunday, October 11 at 7 pm
    • All Retirees: Wednesday, October 14 at 11 am
    • Local 687: Sunday, October 18 at 7 pm
    • Local 1234: Thursday, October 22 at 7 pm
    • Local 1102: Sunday, October 25 at 7 pm

  • 2020
    Oct 14

    All Retirees Telephone Town Hall Meeting

    In order to communicate with participants safely, we are holding several Tele-Town Hall meetings in October to explain our plan and answer your questions. You may join any meeting that fits your schedule. You can join another Local Union meeting if that is more convenient. To join the Tele-Town Hall, answer the phone when it rings or call 800-460-1205. The schedule for the meetings is below.

    • All Participants: Sunday, October 4 at 7 pm
    • All Apprentices: Tuesday, October 6 at 7 pm
    • Local 1045: Sunday, October 11 at 7 pm
    • All Retirees: Wednesday, October 14 at 11 am
    • Local 687: Sunday, October 18 at 7 pm
    • Local 1234: Thursday, October 22 at 7 pm
    • Local 1102: Sunday, October 25 at 7 pm

  • 2020
    Oct 11

    Local 1045 Telephone Town Hall Meeting

    In order to communicate with participants safely, we are holding several Tele-Town Hall meetings in October to explain our plan and answer your questions. You may join any meeting that fits your schedule. You can join another Local Union meeting if that is more convenient. To join the Tele-Town Hall, answer the phone when it rings or call 800-460-1205. The schedule for the meetings is below.

    • All Participants: Sunday, October 4 at 7 pm
    • All Apprentices: Tuesday, October 6 at 7 pm
    • Local 1045: Sunday, October 11 at 7 pm
    • All Retirees: Wednesday, October 14 at 11 am
    • Local 687: Sunday, October 18 at 7 pm
    • Local 1234: Thursday, October 22 at 7 pm
    • Local 1102: Sunday, October 25 at 7 pm

  • 2020
    Oct 06

    All Apprentices Telephone Town Hall Meeting

    In order to communicate with participants safely, we are holding several Tele-Town Hall meetings in October to explain our plan and answer your questions. You may join any meeting that fits your schedule. You can join another Local Union meeting if that is more convenient. To join the Tele-Town Hall, answer the phone when it rings or call 800-460-1205. The schedule for the meetings is below.

    • All Participants: Sunday, October 4 at 7 pm
    • All Apprentices: Tuesday, October 6 at 7 pm
    • Local 1045: Sunday, October 11 at 7 pm
    • All Retirees: Wednesday, October 14 at 11 am
    • Local 687: Sunday, October 18 at 7 pm
    • Local 1234: Thursday, October 22 at 7 pm
    • Local 1102: Sunday, October 25 at 7 pm

  • 2020
    Oct 04

    All Participants Telephone Town Hall Meeting

    In order to communicate with participants safely, we are holding several Tele-Town Hall meetings in October to explain our plan and answer your questions. You may join any meeting that fits your schedule. You can join another Local Union meeting if that is more convenient. To join the Tele-Town Hall, answer the phone when it rings or call 800-460-1205. The schedule for the meetings is below.

    • All Participants: Sunday, October 4 at 7 pm
    • All Apprentices: Tuesday, October 6 at 7 pm
    • Local 1045: Sunday, October 11 at 7 pm
    • All Retirees: Wednesday, October 14 at 11 am
    • Local 687: Sunday, October 18 at 7 pm
    • Local 1234: Thursday, October 22 at 7 pm
    • Local 1102: Sunday, October 25 at 7 pm

  • 2020
    Oct 01

    Revised Pension Recovery Program Application Accepted by the U.S. Treasury Department

    On September 29, 2020, the Trustees submitted our Pension Recovery Program application to the U.S. Treasury Department. The Treasury Department notified the Board that it had formally accepted our application on October 1, 2020. Now the Treasury Department has 225 days to review and then approve or deny our proposal. That means that it must act by May of 2021. The full application will be posted on the Treasury Department's website within 30 days. You will be able to review the entire application, check on its status, read comments that have been submitted regarding the application, and submit your own comments on the application. It may take the Treasury Department some time to post the application and to turn on the comment link. If it is not there when you visit the site, please check back in a few days.

  • 2020
    Sep 29

    Revised Pension Recovery Program Application Submitted to the U.S. Treasury Department

    On September 29, 2020, the Trustees submitted our Pension Recovery Program application to the U.S. Treasury Department. Once the Treasury Department notifies the Board that it has formally accepted our application, it will have 225 days to review and then approve or deny our proposal. That means that it must act by about May of 2021. The full application will be posted on the Treasury Department's website within 30 days. You will be able to review the entire application, check on its status, read comments that have been submitted regarding the application, and submit your own comments on the application. It may take the Treasury Department some time to post the application and to turn on the comment link. If it is not there when you visit the site, please check back in a few days.

  • 2020
    Apr 23

    MPRA Application Withdrawn

    Based on the recommendation of the Treasury Department, the MPRA application was withdrawn.

  • 2019
    Nov 04

    Treasury Website Now Accepting Comments on the Pension Recovery Program Application

    You can now comment on the the Plan's Pension Recovery Program application and read others' comments on the Treasury Department website. On the site, you can also read or download the complete Pension Recovery Program application and see the status of the application. The Treasury Department's MPRA application page defaults to show the applications in alphabetical order, with only the first 10 entries on the first page. You can expand the number of entries shown on the page, click on the link at the bottom of the chart to go to the next page, or change how the chart is sorted in order to find the "Carpenters Pension Trust Fund - Detroit & Vicinity" row.

  • 2019
    Oct 23

    Pension Recovery Program Available on Treasury Website

    The complete Pension Recovery Program that the Trustees submitted to the Treasury Department is now available on the Treasury website's MPRA application page. On the site, you can see the status of the application ("In review" is the status as of October 23, 2019) and read or download the entire Pension Recovery Program application. Soon, you will also be able to comment on it and read others' comments too. It can take Treasury a few weeks after the application is posted on the website to turn on the comment feature. We will update our website when that is available to you. The Treasury Department's MPRA application page defaults to show the applications in alphabetical order, with only the first 10 entries on the first page. You can expand the number of entries shown on the page, click on the link at the bottom of the chart to go to the next page, or change how the chart is sorted in order to find the "Carpenters Pension Trust Fund - Detroit & Vicinity" row.

  • 2019
    Oct 16

    MPRA Pension Recovery Program In-Person Meeting: Local 1234

    Save the Date: Wednesday, October 16 at 6 pm 

    During the meeting, we’ll explain and provide updates on our Pension Recovery Program and answer your questions. The meeting will be held prior to your Local Union meeting. 

     

     

     

  • 2019
    Oct 15

    MPRA Pension Recovery Program In-Person Meeting: Local 1102

    Save the Date: Tuesday, October 15 at 6 pm 

    During the meeting, we’ll explain and provide updates on our Pension Recovery Program and answer your questions. The meeting will be held prior to your Local Union meeting. 

     

     

     

  • 2019
    Oct 10

    MPRA Pension Recovery Program In-Person Meeting: Local 1045

    Save the Date: Thursday, October 10 at 6 pm 

    During the meeting, we’ll explain and provide updates on our Pension Recovery Program and answer your questions. The meeting will be held prior to your Local Union meeting. 

     

     

     

  • 2019
    Oct 09

    MPRA Pension Recovery Program In-Person Meeting: Local 687

    Save the Date: Wednesday, October 9 

    • Retirees: 10 am
    • Apprentices: 5 pm 
    • All Members: 6 pm 

    During the meeting, we’ll explain and provide updates on our Pension Recovery Program and answer your questions. The meeting will be held prior to your Local Union meeting. 

     

     

     

  • 2019
    Sep 29

    MPRA Pension Recovery Program Tele-Town Hall Meeting

    We are holding a Tele-Town Hall meeting to explain the pension Recovery Program and answer your questions. The Tele-Town Hall will be held on Sunday, September 29, 2019 at 7 pm. To join the Tele-Town Hall, answer the phone when it rings.

  • 2019
    Sep 26

    Pension Recovery Program Member Support Line Goes Live

    The Board of Trustees is dedicated to providing you with the resources you need to understand the Pension Recovery Program, why it is so important to your pension, what it means and how it will impact you. For that reason, we created this website and a dedicated, toll-free member Support Line, (877) 631-MPRA (877-631-6772), where you can get answers to questions about the Pension Recovery Program and how it would affect you. The Member Support Line is open Monday through Friday, from 9 am to 5 pm.

  • 2019
    Sep 25

    Pension Recovery Program Accepted by Treasury Department

    On September 23, 2019, the Trustees submitted our Pension Recovery Program application to the U.S. Treasury Department. The Treasury Department notified the Board that it had formally accepted our application on September 25, 2019. Now the Treasury Department has 225 days to review and then approve or deny our proposal. That means that it must act by about May 7, 2020. The full application will be posted on the Treasury Department's website within 30 days. You will be able to review the entire application, check on its status, read comments that have been submitted regarding the application, and submit your own comments on the application. It may take the Treasury Department some time to post the application and to turn on the comment link. If it is not there when you visit the site, please check back in a few days.

  • 2019
    Sep 25

    Pension Recovery Program Individualized Notices Mailed to Participants

    On September 25, 2019, the Plan received notification from the Treasury Department that the Pension Recovery Program application was accepted. As a result, the Plan began mailing individualized notices to every Plan participant. The notices, mailed beginning on September 25, provide an overview of the Pension Recovery Program and include an individualized estimate of how your pension will be impacted by the Pension Recovery Program. A sample cover letter and notice is available on this site. The sample notice does not contain individualized calculations. If you do not receive your individualized notice, please contact the Pension Recovery Program Member Support Line: (877) 631-MPRA (877-631-6772).

  • 2019
    Sep 23

    Pension Recovery Program Submission to the Treasury Department

    On September 23, 2019, the Trustees submitted our Pension Recovery Program application to the U.S. Treasury Department. Once the Treasury Department notifies the Board that it has formally accepted our application, it will have 225 days to review and then approve or deny our proposal. That means that it must act by about May 7, 2020. The full application will be posted on the Treasury Department's website within 30 days. You will be able to review the entire application, check on its status, read comments that have been submitted regarding the application, and submit your own comments on the application. It may take the Treasury Department some time to post the application and to turn on the comment link. If it is not there when you visit the site, please check back in a few days.