Fast Facts about the IAMNPF, National Pension Plan
Fund History
Building Retirement Security for over 50 Years
In 2010, the IAM National Pension Fund celebrated its 50th year of operation. The Fund continues to grow and thrive, in spite of the fact that thousands of single-employer company pension plans across the country have been terminated or turned over to the federal government.
View the 50th anniversary issue of the IAMNPF magazine (PDF)
In 1960, the Fund began with one employer contributing 10 cents an hour per employee. In 2013, it has over 1,750 contributing employer locations. The current maximum contribution rate is $28.50 per hour.
Pension Plan benefits are paid to retired participants and their beneficiaries through employer contributions and investment earnings on the Fund's assets. Growing employer contributions and solid investment performance have increased the Fund's assets from $42,600 in 1960, to $1.08 billion in 1985, to approximately $10.7 billion as of December 31, 2013.
This growth has allowed the Fund to pay an increasing level of benefits to retired members: from $18,000 in 1960, to $21 million in 1978, to $170 million in 1998, to more than $500 million in 2013. The Fund has paid over $4 billion dollars in benefits to date.
These are measures of the Fund's growth and of its stability and security for members now and in the future.
Fund Investment Experience
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.
The Fund's prudent diversification and management of assets has resulted in a strong investment track record. The Fund's Trustees adhere to a disciplined, long-term investment policy based on solid fundamentals and meticulous research and analysis. They maintain a broadly diversified portfolio and employ an active rebalancing mechanism.
In recent years, the plan has broadened its holdings by adding managers in a number of areas, increasing diversification. The Fund's investment program is structured to include both actively managed portfolios (where a manager decides which securities to invest in) and index funds (a pre-set basket of securities usually based on a market index such as Standard & Poor's S&P 500 Stock Index).
The investment committee of the Board of Trustees reviews performance and activity reports on the investment managers. In addition, the Board also regularly receives strategic input from independent consultants and academic institutions.
The Fund's long-term investment results are remarkably strong. Since 1984, the Fund's investments returned an average of 11.38% per year.
- The IAM National Pension Fund is the 5th largest multiemployer pension fund in the United States.
- The Fund has approximately $10.9 billion in assets.
- The Fund has over 1,750 contributing employer locations.
- The Fund pays pension benefits to over 90,000 retirees and beneficiaries, providing them with retirement security.
- The Fund has over 100,000 active participants.
Fund History
Building Retirement Security for over 50 Years
In 2010, the IAM National Pension Fund celebrated its 50th year of operation. The Fund continues to grow and thrive, in spite of the fact that thousands of single-employer company pension plans across the country have been terminated or turned over to the federal government.
View the 50th anniversary issue of the IAMNPF magazine (PDF)
In 1960, the Fund began with one employer contributing 10 cents an hour per employee. In 2013, it has over 1,750 contributing employer locations. The current maximum contribution rate is $28.50 per hour.
Pension Plan benefits are paid to retired participants and their beneficiaries through employer contributions and investment earnings on the Fund's assets. Growing employer contributions and solid investment performance have increased the Fund's assets from $42,600 in 1960, to $1.08 billion in 1985, to approximately $10.7 billion as of December 31, 2013.
This growth has allowed the Fund to pay an increasing level of benefits to retired members: from $18,000 in 1960, to $21 million in 1978, to $170 million in 1998, to more than $500 million in 2013. The Fund has paid over $4 billion dollars in benefits to date.
These are measures of the Fund's growth and of its stability and security for members now and in the future.
Fund Investment Experience
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.
The Fund's prudent diversification and management of assets has resulted in a strong investment track record. The Fund's Trustees adhere to a disciplined, long-term investment policy based on solid fundamentals and meticulous research and analysis. They maintain a broadly diversified portfolio and employ an active rebalancing mechanism.
In recent years, the plan has broadened its holdings by adding managers in a number of areas, increasing diversification. The Fund's investment program is structured to include both actively managed portfolios (where a manager decides which securities to invest in) and index funds (a pre-set basket of securities usually based on a market index such as Standard & Poor's S&P 500 Stock Index).
The investment committee of the Board of Trustees reviews performance and activity reports on the investment managers. In addition, the Board also regularly receives strategic input from independent consultants and academic institutions.
The Fund's long-term investment results are remarkably strong. Since 1984, the Fund's investments returned an average of 11.38% per year.
