IAM National Pension Fund Executive Director
Who does the Executive Director work for?
The Executive Director works for the benefit of all plan participants and beneficiaries and reports directly to the Fund's joint Board of Trustees.
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.
About the National Pension Plan
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.
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.