The IAM National Pension fund is called a "Defined Benefit Pension Plan". Defined benefit pension plans are insured by the Federal Government and any excess in fund assests MUST go to improve members benefits.
Most employers hold and control what is called a Defined Contribution plan. They control the assets and they determine what to do with the excess in assets. Most invest this money in their company.
I.A.M. members know that strength lies in numbers. The same holds true for the National Pension Plan. Our strength lies in these numbers:
Our numbers are strong and they keep growing stronger . . . growing to give you a more secure financial future, both tomorrow and well into the 21st Century.