Frequently Asked Question (FAQ)
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.
How can I find the current table of contribution rates and benefit values?
What is the current range of employer contribution rates?
Contribution rates range from $0.10 to $28.50 per hour.
What is the average employer contribution rate?
The current average contribution rate is $1.95 per hour.
How do I negotiate a future contribution increase under my collective bargaining agreement?
For help in determining how best to negotiate contribution rate increases, contact your IAM representative.
Can I make contributions to the plan on my own behalf?
The IAM National Pension Fund is a multi-employer non-contributory Trust Fund. Only employer contributions made in accordance with the IAM Collective Bargaining Agreement or Special Class Participation Agreement with the Trustees may be accepted by the Fund. All employer contributions and Fund assets, from whatever source, are pooled and used to pay pension benefits.