This tool provides an estimate of retirement income for members of a specific trade organization, based on factors such as years of service, contribution levels, and the specific rules governing the retirement plan. As an example, a carpenter who has consistently contributed to a retirement fund for 25 years can use this resource to project potential monthly income upon retirement.
These resources play a vital role in financial planning, enabling individuals to make informed decisions about their future. They offer transparency and allow for proactive adjustment of contributions to meet desired retirement goals. Historically, access to such predictive tools has been limited, making retirement planning a more challenging process for tradespeople.
