The National Pension Plan is financed entirely by employer contributions negotiated during collective bargaining, plus investment earnings from the Fund's assets. Participants do not contribute to the plan, and separate accounts are not maintained for participants.

The plan has two main contribution rate schedules that show the amount of Future Service Credit earned at different employer contribution rates. Basically, a given employer contribution rate delivers a monthly pension benefit amount for each year of credited service at that rate.

Schedule A (PDF)

The rates outlined under Schedule A generally apply to credit earned with contributing employers who first contributed to the plan on the participant's behalf before April 1, 2003.

Under the plan changes announced in December 2010, Schedule A will be replaced with Schedule B for all active participants on the first day of the month following the ratification of the collective bargaining agreement that replaces the agreement in effect on January 1, 2011. The latest date that Schedule B will take effect in any instance is January 1, 2014.

This change is prospective only. Benefit amounts previously earned under Schedule A will remain the same.

Schedule B (PDF)

The rates outlined under Schedule B generally apply to credit earned with contributing employers who first contributed to the plan on the participant's behalf on or after April 1, 2003. However, for a limited number of groups, benefits are based on a custom schedule derived from Schedule B.

Schedule B will be in place for all active participants on the first day of the month following the ratification of the collective bargaining agreement that replaces the agreement in effect on January 1, 2011. The latest date that Schedule B will take effect in any instance is January 1, 2014.

Note: A limited number of employer groups have special benefit schedules derived from Schedule A. These groups will move to Schedule B, with the current reduction under Schedule A continuing on the same basis under Schedule B, under the timeframes outlined above. Details are provided here (204(h) Exhibit 3 (PDF)).

Questions?

You can contact the IAM National Pension Fund Office directly to get more information about the plan.

  • Phone: 800-424-9608 (participants); 202-785-2658 (others). Our phones are open Monday through Friday, 9:00 a.m. to 7:00 p.m. Eastern Time.
  • Fax: 202-463-8098 or 202-457-8653 (Please use this form  when faxing a request for estimate or pension application.)
  • Mail:  IAM National Pension Fund, 99 M Street, SE, Suite 600, Washington, DC 20003-4595
  • E-mail Form: Click Here