401(k) Plan Documents

This page includes the documents that govern the IAM National 401(k) Plan. Click the document titles in the table below to review or download copies. 

DocumentDescription

IAM National 401(k) Plan Summary Plan Description (SPD) (PDF)

This document describes the benefits provided through the IAM National 401(k) Plan. It also outlines the plan's eligibility rules and participants' rights under the plan.

IAM National 401(k) Plan Investment Options Summary (PDF)

This Summary shows the investment options available under the Plan.  Additional information about each investment can be found in the Investment Fact sheets (PDF).

IAM National 401(k) Plan Summary of Material Modifications (SMM) (PDF)

This document describes amendments or changes to the Summary Plan Description.

IAM National 401(k) Plan Summary Annual Report (SAR) (PDF)

This document provides an annual summary of the plan's expenses, liabilities and assets.

IAM National 401(k) Fund Trust Agreement (PDF)

This is the official, legal trust document for the IAM National 401(k) Fund.

You can also view QDRO-related documents here. »

  • IAMNPF Image

Phil Littlefield—NECCO
Cambridge, MA; Revere, MA
Director of Facilities

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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