IAM National Benefit Funds Office

About IAM National Benefit Funds Office

The IAM National Benefit Funds Office brings together decades of experience in administering retirement, health, and welfare benefits for members of the International Association of Machinists and Aerospace Workers (IAM). Together, these Funds provide comprehensive financial security and support for members and their families—both during their working years and into retirement. The IAM National Pension Fund, established in 1960, has been building retirement security for over 50 years. Beginning with contributions of just 10 cents per hour from a single employer, the Fund has grown through expanding employer participation and strong investment performance. By 2018, it included approximately 1,700 contributing employer locations, with assets reaching nearly $13 billion. This growth has enabled the Fund to pay increasing levels of benefits—totaling more than $5 billion to date—to retired participants and their beneficiaries. Complementing this mission, the IAM National Benefit Trust Fund was established in 1966 to provide health and welfare benefits to participants and their families. Renamed in 1979, the Fund offers nationwide plans, including medical (with prescription drug coverage), dental, vision, short-term disability, and life and accidental death and dismemberment insurance. These benefits support members’ health and financial protection throughout their careers. In addition, the IAM National 401(k) Fund provides a defined contribution retirement savings option to help members build additional financial security. Originally established in 1982 as the Individual Account Plan and transitioned to a 401(k) plan in 2001, the Fund became a separate trust in 2014. The Plan offers a range of investment options, including target date funds and professional guidance through John Hancock Retirement Plan Services, helping participants achieve a more secure retirement. All Funds are administered from Washington, DC, under the IAM National Benefit Funds Office.