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The IAM National Pension Plan

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.

National Pension Plan Benefits
The National Pension Plan provides you with:

Over 1,700 contributing employers

Over 65,000 retirees and beneficiaries

Over 70,000 participating members

Over $6 billion in net assets

A guaranteed benefit after 5 years of vesting service
An unreduced retirement benefit available at any age after 30 years of service
An unreduced pension benefit at age 62, with 20 years of service
A monthly pension based on your employers' contribution rates and your time there.
Spouse protection in the event of your death