National Pension Plan
Click on any question below that interests you to reveal the answer:
Is the IAM National Pension Fund a part of the IAMAW Union?
The IAM National Pension Fund is a separate entity from the IAMAW Union. While the National Pension Plan is funded by contributing employers, it was created for the sole benefit of IAM members who have negotiated the plan into their collective bargaining agreements.
Is participation in the plan limited to IAM members?
No. Companies with participating IAM members can include other collectively bargained and certain non-union or special-class employees in the plan.
Does any portion of union dues go toward this plan?
No. Negotiated employer contributions fund the plan.
How is the plan funded?
The plan is funded through employer contributions and earnings on investments.
Why is there a joint Board of Trustees?
The National Pension Plan is a joint labor-management multiemployer pension plan. It is legally required to have representation by both IAM leaders and contributing employers.
What do you mean when you say that benefits are "portable"?
If you are a participant of the National Pension Plan, and you go to work for another employer who also contributes to the National Pension Plan, you continue to accrue benefits under the plan.
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.
How can I get more information about the National Pension Plan?
You can contact the IAM National Pension Fund Office directly to get more information about the plan.
What do I need to do to get the plan included in my collective bargaining agreement?
Contact your IAM representative or the IAM National Pension Fund for help in getting the National Pension Plan by negotiating it into your collective bargaining agreement.