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IAMNPF Provides Retirement Security

The IAM National Pension Fund has provided valuable retirement benefits for members of the International Association of Machinists and Aerospace Workers and their families for since 1960. The IAM National Pension Fund provides participants with a defined-benefit pension plan for their retirement.

While defined-benefit plans were prominent in the past, unfortunately only 12.2 percent of private-sector workers last year said they had access to a defined-benefit plan like the IAM National Pension Fund. These benefits fortify a crucial part of the three-legged stool of American retirement consisting of Social Security, employee pensions, and personal savings. 


 Fast Facts about the IAMNPF, National Pension Plan

  • The IAM National Pension Fund is the 5th largest multiemployer pension fund in the United States.
  • The Fund has approximately $11.9 billion in assets.
  • The Fund has over 1,650 contributing employer locations.
  • The Fund pays pension benefits to over 100,000 retirees and beneficiaries, providing them with retirement security.
  •  The Fund has almost 100,000 active participants and over 80,000 term benefit participants.
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Frequently Asked Question (FAQ)

How many participants are in the National Pension Plan?

The plan currently covers more than 100,000 active participants.

Can a company of any size join the National Pension Plan?

Yes. The plan covers members from companies of any size, from one member to thousands of members.

What is the average employer contribution rate?

The current average contribution rate is $1.95 per hour.

Why is the National Pension Plan so valuable?

For four good reasons: 1) contributions are made by the employer and not the employee; 2) since the benefits are guaranteed by the PBGC, there is limited risk to you when you participate in the plan; 3) the benefits are solely for retirement and cannot be used for any other purpose; and 4) benefit amounts are known and are paid for your lifetime.

When was the Fund started?

The Fund was established in 1960.

Who manages the Fund's assets?

The Fund's assets are managed by professional investment managers who follow the investment objectives set by the Fund's investment committee.

Who oversees the Fund's operations?

The joint Board of Trustees is responsible for overseeing the Fund's operations and performance. The Executive Director oversees its day-to-day operations.

What does the Fund do with earnings on investments?

The Fund is a not-for-profit organization. All investment earnings are used to provide benefits to pensioners and beneficiaries, and to cover the cost of running the Fund.

Is the Fund financially sound?

Yes. Unlike many single-employer or company pension plans, the National Pension Plan is well funded and financially sound. View copies of the plan's Annual Funding Notice here.

What does the Fund's Executive Director do?

The Executive Director is responsible for the day-to-day operations of the Fund and all the benefits and services provided by the Fund.

Who does the Executive Director work for?

The Executive Director works for the benefit of all plan participants and beneficiaries and reports directly to the Fund's joint Board of Trustees.

How is the Executive Director selected?

The Executive Director is selected by the Board of Trustees based on his or her professional experience and credentials.

What states have the greatest number of contributing employers to the Fund?

They are, in order: 1) Illinois; 2) California; 3) Ohio.

Does the National Pension Plan have contributing employers in every state?

There are only a few states that do not have contributing employers.

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