Skip to main content

December 2024

There were two Summary Material Modifications to the IAM National Pension Plan. They can be viewed below.

**The Summary of Material Modifications Cash-Out Letter does not apply to those currently receiving a monthly National Pension Plan benefit or survivor benefit. Please note that the current monthly benefit you are receiving cannot be cashed out.

The annual mailing for Annuity Withholding can be viewed below.

There was a fifth amendment added to the National Pension Plan. It can be found below.

November 2024

In accordance with ERISA §104(d), the Board of Trustees mailed the following Report of Summary Plan Information to unions that represent Fund participants and contributing employers in early November 2024. 

May 2024

On April 29th, the IAM National Benefit Funds Office mailed the Annual Funding Notice for the IAM National Pension Fund (“Notice”) for the plan year beginning January 1, 2023. The April 29th notice included a misprint, and the revised Notice is available below. 

The notice was sent to all Active and Inactive Vested Participants, Active Non-Vested Participants, Benefit Recipients, Employers and both Non-IAM Union and IAM Union Representatives. 

March 2024

The following is a summary of changes to the IAM National Pension Fund’s 2023 Summary Plan Description (“SPD”). This Summary of Material Modifications (“SMM”) supplements or modifies the information in your SPD regarding the Plan and mailed in early March 2024.

November 2023

In accordance with ERISA §104(d), the Board of Trustees mailed the following Report of Summary Plan Information to unions that represent Fund participants and contributing employers in early November 2023. 

May 2023

On April 28th, the IAM National Benefit Funds Office mailed the Annual Funding Notice for the IAM National Pension Fund (“Notice”) for the plan year beginning January 1, 2022. The notice was sent to all Active and Inactive Vested Participants, Active Non-Vested Participants, Benefit Recipients, Employers and both Non-IAM Union and IAM Union Representatives. The April 28th notice included a misprint, and the revised Notice is available below. 

The revised Notice includes a correction to the amounts listed under Value of Assets and Value of Liabilities for Plan Year 2022 within the Funded Percentage chart on page 1. An updated Funded Percentage chart, with corrected information in bold, is included below for your quick reference. Please note that the Plan’s funded percentage of 87.1% is correct and remains unchanged in the revised Notice.

Funded Percentage

 

2022

2021

2020

Valuation Date

January 1

January 1

January 1

Funded Percentage

87.1%

83.7%

85.1%

Value of Assets

$14,315,653,162

$13,445,708,809

$12,715,052,865

Value of Liabilities

$16,429,314,094

$16,064,688,246

$14,946,755,268

 

April 2022

The 2021 Annual Funding Notice and 2022 Zone Status with a special cover letter was mailed April 29, 2022.

The notice was sent to all Active and Inactive Vested Participants, Active Non-Vested Participants, Benefit Recipients, Employers and both Non-IAM Union and IAM Union Representatives.

April 2021

The 2020 Annual Funding Notice and 2021 Zone Status with a special cover letter was mailed April 30, 2021.

The notice was sent to all Active and Inactive Vested Participants, Benefit Recipients, Employers and both Non-IAM Union and IAM Union Representatives.

December 2020

The 2020 Federal Tax Withholding Notice was mailed December 29, 2020.

The notice was sent to all Benefit Recipients of the IAM National Pension Fund.

April 2020

The 2019 Annual Funding Notice and 2020 Zone Status with a special cover letter was mailed April 29, 2020.

The notice was sent to all Active and Inactive Vested Participants, Benefit Recipients, Employers and both Non-IAM Union and IAM Union Representatives.

July 2019

A Summary of Material Modifications from the Board of Trustees was mailed in July.

October 2018

A communication from the Board of Trustees was mailed at the end of October regarding the change in rule for disqualifying employment prior to Normal Retirement Age.

August 2018

A notice to certain IAM National Fund Participants of a change in benefits. The notice was mailed in August and explained the change in rules for disqualifying employment prior to normal retirement age.