IAM National 401(k) Plan

→Important Information about your 401(k) Plan:

New York Life Retirement Plan Services, Recordkeeper for the IAM National 401(k) Plan, now part of John Hancock Retirement Plan Services

There will be no changes to your account as a result of this transaction.  The participant website and call center will remain the same. Read the announcement here (PDF) or at the new 401(k) Plan website at www.iam401k.org/iam-national-401(k)-plan.

If you are going to log on for the first time please view this flyer to get started (PDF). Then set up your account access at mylife.jhrps.com.

                                                                                                                    

New 401(k) Plan website, www.iam401k.org, launched in April 2015! 

The information on this page has moved to a new home:

 www.iam401k.org/iam-national-401(k)-plan.

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Gwen Lewis—Garnett Auto Supply
LL 708—Wichita, Kansas
Plan Participant

Frequently Asked Question (FAQ)

If the National Pension Plan is better, why are 401(k) plans so popular?

401(k) plans are popular with employers because they shift the expense and investment risk to employees. They are popular with employees because 1) payroll deductions are made on a before-tax basis (which allows employees to defer paying taxes on the portion they contribute to the plan); 2) they often offer a choice of investment options and 3) account balances are generally accessible either through loans, hardship withdrawals or in-service withdrawals, or at the time an employee leaves the employer.

Can I be in both the National Pension Plan and a 401(k) plan?

Yes. The IAM National Pension Fund also offers the IAM National 401(k) Plan to participants who have negotiated the National Pension Plan into their collective bargaining agreement. Also, if your employer offers a defined benefit plan to collectively bargained employees, you can participate in the IAM National 401(k) Plan.

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.

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.

How is the plan funded?

The plan is funded through employer contributions and earnings on investments.

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.

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.

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