Savings FAQ

What qualifies for an economic hardship withdrawal?

Each of the following qualifies for an economic hardship withdrawal from the annuity and savings fund. Each requires the proper documentation to be included with the withdrawal application.

  • Unreimbursed medical expenses or expenses necessary to obtain medical care.
  • Tuition, fees and room and board for post-secondary education.
  • Purchase of principal residence (maximum of once every 24 months)
  • Eviction from principal residence or foreclosure on principal residence mortgage (maximum of once every 12 months)
  • Burial and/or funeral expenses

How long does it take to receive a check after a withdrawal application has been approved by the trustees?

You will receive a check from PNC Bank within seven to ten business days.

What is the PNC Bank’s Vested Interest website?

PNC Bank’s Vested Interest Website is www.retirementdirections.com.  Email and Chat services are available from their website.

What is the PNC Bank’s Vested Interest Customer Service phone number?

Call 1-800-374-4631 and press “ * ”, then “0” to be transferred directly to a Customer Service Representative. Representatives are available between the hours of 8:00 AM and 10:00PM, Eastern Time Monday through Friday.

When are the annual options statements released?

If you qualify to receive an option, the option form will be included with the 3rd quarter Vested Interest statement.  The 3rd quarter statement is release by PNC on the 10th business day of October.  The options form is due back to the Carpenters Combined Funds by the date stated on the option form.  The option checks are released on the 1st business day of December.

When are the Form 1099-R released?

PNC Vested Interest releases the 1099-R forms typically by the 15th business day of January.  PNC Vested Interest is required to release the Form 1099-R no later than January 31st.

How to change your Vested Interest PIN

Read the following notification of Password and PIN enhancements for the Vested Interest Website: Participant Notice of Password / PIN enhanced requirements