IAM National Pension Fund

What IAM National Pension Fund does

The IAM National Pension Fund is a multiemployer defined-benefit pension plan established in 1960 to provide retirement benefits to members of the International Association of Machinists and Aerospace Workers (IAM) and their families. It ranks among the Top 5 multiemployer pension funds in the United States, with approximately $14 billion in assets under management, 93,188 active participants, and approximately 1,700 contributing employer locations across aerospace, defense, and transportation industries including Boeing Wichita, Spirit AeroSystems, General Dynamics Bath Iron Works, UPS, and United Airlines. The Fund is governed by a joint labor-management Board of Trustees and is legally independent from the IAM union.

The Fund's revenue model is straightforward and exclusive: employer contributions negotiated through IAM collective bargaining agreements, calculated on an hourly basis (rates range from $0.10 to $28.50 per hour, averaging $1.95), are pooled with investment earnings and used to pay defined monthly lifetime benefits to retired participants and their beneficiaries. Cumulative benefits paid exceed $5 billion, with nearly $800 million paid in 2018 alone. There is no commercial pricing model — the financial mechanics are defined-contribution-in, defined-benefit-out under ERISA, with withdrawal liability providing statutory exit friction for employers.

The Fund's underlying technology consists of a recently launched V3 Benefits Administration System powering Participant Self-Service (PSS) and Employer Self-Service (ESS) web portals, through which participants manage pension applications, beneficiary designations, and payment information, and through which employers submit remittance reports. Distribution occurs exclusively through IAM Business Representatives who negotiate participation into CBAs; the Education and Employer Services Department supports union reps and employers with merger studies, bargaining materials, and participant education. The Fund received a Pensions & Investments Eddy Award Honorable Mention in 2024 for its 'Journey to Retirement' participant education magazine, and in 2026 secured a unanimous 9-0 U.S. Supreme Court ruling reinforcing actuarial discretion in withdrawal liability calculations under ERISA.

Name

IAM National Pension Fund

Legal name

IAM National Pension Fund

Website

https://www.iamnpf.org/

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

101–250 employees

Short description

The IAM National Pension Fund is a multiemployer defined-benefit pension plan serving members of the International Association of Machinists and Aerospace Workers, managing approximately $14 billion in assets across 93,000+ active participants and 1,700 contributing employer locations in aerospace, defense, and transportation.

Ownership category

akta.pro rank

Product category

Multiemployer Defined Benefit Pension Plan

NAICS

Pension Funds (525110)

akta.pro primary industry

Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)

akta.pro secondary industries

Pensions & Retirement Benefits Administration (BPAIAKAA), Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

Keywords

• Defined benefit pension
• Multiemployer pension plan
• Retirement benefits administration
• Pension fund management
• Union retirement plan

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Employer Pension Contributions: The Fund's sole revenue stream is employer contributions made in accordance with IAM Collective Bargaining Agreements. Contributions are calculated per hour worked (e.g., $0.10 to $28.50 per hour range; $1.95 average). All employer contributions and investment earnings on Fund assets are pooled and used to pay pension benefits to retired participants and their beneficiaries.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

The IAM National Pension Fund is a multiemployer defined-benefit pension plan that provides lifetime retirement income to members of the International Association of Machinists and Aerospace Workers (IAM). It is funded solely by employer contributions negotiated through IAM collective bargaining agreements, with rates set per hour worked. The Fund pools contributions and investment earnings across approximately 1,700 contributing employer locations to pay monthly pension benefits, with online administration handled through the V3 Benefits Administration System (ESS and PSS portals).

Product overview

The IAM National Pension Fund operates as a multiemployer defined-benefit pension plan providing retirement benefits to members of the International Association of Machinists and Aerospace Workers. The organization offers a unified platform comprising the core National Pension Plan, supplemented by digital self-service portals (V3 Participant Self-Service and Employer Self-Service), direct deposit services, benefit calculators, and withdrawal liability services. Related IAM entities include the IAM National 401(k) Fund and IAM National Benefit Trust Fund, which together form a comprehensive retirement and benefits ecosystem. The fund ranks among the top 5 multiemployer pension funds in the United States with approximately $14 billion in assets and over 93,000 active participants.

Differentiator

Problem solved

Functional benefit

Named customers5 records

Segments3 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Proskauer Rose LLPcoreOthersProskauer served as legal counsel representing the Trustees of the IAM National Pension Fund in a unanimous 9-0 U.S. Supreme Court victory (June 2026). Proskauer secured a ruling allowing actuaries to use up-to-date assumptions when calculating pension withdrawal liability under ERISA.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Plumbers and Pipe Fitters National Pension Fund: Plumbers and Pipe Fitters National Pension Fund is a Taft-Hartley multiemployer DB pension plan covering UA (United Association) members across U.S. construction and industrial sectors. It mirrors IAM National Pension Fund's legal structure, multiemployer pooling, and joint labor-management trustee governance.
• National Electrical Benefit Fund (NEBF): NEBF is a Taft-Hartley multiemployer defined-benefit pension plan for IBEW (International Brotherhood of Electrical Workers) members, jointly trusteed by labor and NECA contractors. It is highly comparable to IAM National Pension Fund in structure, ERISA framework, joint governance, and contract-negotiated employer participation.
• Central States Pension Fund: Central States Pension Fund is the largest U.S. multiemployer defined-benefit pension plan (Teamsters) with similarly broad participation across transportation and logistics employers. It is the most direct functional peer to IAM National Pension Fund — same Taft-Hartley structure, same ERISA framework, same multiemployer DB model, same transportation/logistics employer overlap with UPS.
• Western Conference of Teamsters Pension Plan: Western Conference of Teamsters Pension Plan is a large Taft-Hartley multiemployer DB plan covering Teamsters members in the western U.S. It shares the same legal structure, multiemployer pooling model, joint labor-management governance, and ERISA regulatory regime as the IAM National Pension Fund.
• Boilermakers-Blacksmith National Pension Trust: Boilermakers-Blacksmith National Pension Trust is a national multiemployer DB pension plan for International Brotherhood of Boilermakers members, with employers in industrial fabrication and manufacturing. It shares the Taft-Hartley structure, ERISA compliance regime, and joint labor-management governance with IAM National Pension Fund.
• Sheet Metal Workers National Pension Fund: Sheet Metal Workers National Pension Fund is a national multiemployer DB pension plan covering sheet metal workers across U.S. construction and manufacturing. It operates under the same Taft-Hartley framework, ERISA funding rules, and collective bargaining distribution model as IAM National Pension Fund.
• UMWA 1974 Pension Plan: The United Mine Workers of America 1974 Pension Plan is a multiemployer DB pension plan established through collective bargaining for UMWA members in the coal industry. It operates under the same Taft-Hartley legal structure and ERISA framework as IAM National Pension Fund, providing a directly comparable multiemployer DB reference.

Emerging players

• IAM National 401(k) Fund: The IAM National 401(k) Fund is the companion defined-contribution plan offered by the IAM to the same membership and employers served by IAM National Pension Fund. While a DC rather than DB plan, it is operated by the same labor-management structure for the same participant base and represents the primary alternative retirement vehicle that competes for employer adoption within IAM bargaining units.

Broad incumbents

• Pension Benefit Guaranty Corporation (PBGC): PBGC is the federal agency that insures multiemployer and single-employer defined-benefit pension plans. While not a competitor (it is a backstop), PBGC is the most directly comparable federal institutional entity because it administers the regulatory framework and insolvency protections under which IAM National Pension Fund operates.
• CalPERS: CalPERS is the largest U.S. public pension fund with over $400B in AUM, providing DB retirement benefits to California public employees. While public-sector rather than multiemployer Taft-Hartley, it is comparable as a large-scale U.S. DB pension administrator with professional investment management and similar retirement income delivery mission.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCXD5T8KGrL9I
• LinkedInlinkedin.com/company/iam-npf

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IAM National Pension Fund