IAM National Pension Fund Executive Director
Who does the Executive Director work for?
The Executive Director works for the benefit of all National Pension Plan participants and beneficiaries. They report directly to the IAM National Pension Fund's joint Board of Trustees.
About the National Pension Plan
Is the IAM National Pension Fund part of the IAMAW Union?
The IAM National Pension Fund is a separate entity from the IAMAW Union. While the National Pension Plan (the "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 National Pension 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 National Pension Plan.
How is the National Pension Plan funded?
The National Pension 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 (the "Plan"), and you go to work for another employer who also contributes to the Plan, you continue to accrue benefits under the Plan.
How many participants are in the National Pension Plan?
The National Pension Plan currently covers more than 100,000 active participants.
What do I need to do to get the National Pension 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.