IAM National 401(k) Fund

What IAM National 401(k) Fund does

The IAM National 401(k) Fund is a multi-employer defined contribution retirement savings plan headquartered in Washington, DC, serving employees covered by International Association of Machinists (IAM) collective bargaining agreements. Originally established in 1982 as the Individual Account Plan (IAP) under the IAM National Pension Fund, it was converted to a 401(k) plan in 2001 and spun off as a separate trust in May 2014 under its own Trust Agreement. The Fund enables participants to accumulate retirement savings through personal contributions, employer-matched contributions negotiated through collective bargaining, and a range of investment options including alternative investments.

The Fund is governed by a joint Board of Trustees with equal union and employer representation, currently co-chaired by Craig Martin (General Vice President, IAM) and Justin Welner (VP Human Resources, Boeing Wichita, Spirit AeroSystems). John Hancock Retirement Plan Services serves as the recordkeeper, providing the participant-facing portal (myplan.johnhancock.com) and mobile application for account management, balances, and retirement planning tools. Operational leadership is led by Executive Director Yolanda D. Montgomery and General Counsel Denise Clark, supported by a staff of 11-50 employees organized across functional directorates including 401(k) operations, communications, education, employer services, IT, pensions, quality assurance, and human resources.

Revenue is generated through administrative fees assessed on plan assets under Board of Trustees oversight. The Fund serves 36,059 participants across 260 participating employers, holding approximately $1 Billion in assets under management. Distribution is exclusively through collective bargaining negotiations between IAM union representatives and employers, with named participating employers spanning aerospace (Boeing Wichita, Spirit AeroSystems), logistics (UPS), and waste management (Waste Management). The 2022 Amended & Restated Plan extended eligibility to include certain non-union employees at participating companies, modestly broadening the addressable participant base beyond traditional union-only membership.

Name

IAM National 401(k) Fund

Legal name

IAM National 401(k) Fund

Website

https://iam401k.org

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

The IAM National 401(k) Fund is a multi-employer defined contribution retirement plan serving 36,059 participants across 260 employers covered by IAM collective bargaining agreements, holding $1 Billion in assets and administered jointly by union and employer trustees with John Hancock as recordkeeper.

Ownership category

akta.pro rank

Product category

Multi-Employer Retirement Plan Administration

NAICS

Pension Funds (525110), Pension Funds (52511), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

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

akta.pro secondary industry

Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)

Keywords

• Multi-employer 401(k) plan
• Retirement savings plan
• Defined contribution plan
• Union retirement benefits
• Pension fund administration

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Others

Revenue model

1. Administrative fees on plan assets: The fund operates as a collectively bargained 401(k) plan. Revenue is generated through administrative fees charged against plan assets under the supervision of the Board of Trustees. The plan is administered by the Board of Trustees with John Hancock serving as the recordkeeper.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

The IAM National 401(k) Fund is a collectively bargained, multi-employer 401(k) retirement savings plan that allows participants to build retirement savings through personal contributions and employer-matched contributions negotiated through IAM collective bargaining agreements. It offers a range of investment options, participant education resources, and account management tools delivered through a partnership with John Hancock Retirement Plan Services, which serves as the recordkeeper.

Product overview

The IAM National 401(k) Fund is a single, unified 401(k) retirement savings plan (not a platform-plus-modules architecture). The Fund enables participants to build retirement savings through personal contributions and a range of investment options including alternative investments. The plan is administered by the Board of Trustees of the IAM National 401(k) Fund, with John Hancock Retirement Plan Services serving as the recordkeeper. Key administrative tools include the John Hancock participant portal (myplan.johnhancock.com) and mobile app for account management, along with educational resources such as the Name a Beneficiary video and participant FAQs covering distributions, loans, and retirement planning.

Differentiator

Problem solved

Functional benefit

Products and services

• IAM National 401(k) Plan A collectively bargained, multi-employer 401(k) retirement savings plan covering IAM union members and employees at participating companies of any size (from one member to thousands), with personal contributions, employer-matched contributions, a range of investment options including alternative investments, and tools and resources for retirement planning.

Named customers4 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• John Hancock Retirement Plan ServicescoreTechnology or IntegrationJohn Hancock serves as the recordkeeper for the IAM National 401(k) Plan, providing participant account management, investment platforms, and retirement planning tools. Participants access their accounts through myplan.johnhancock.com.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Empower Retirement: One of the largest U.S. recordkeepers and retirement plan providers serving thousands of multi-employer and corporate DC plans; comparable as the institutional services layer behind plans like the IAM 401(k).
• Fidelity Investments (Workplace Investing): Largest U.S. 401(k) recordkeeper with extensive multi-employer and corporate plan administration; competes for the same recordkeeping mandate that John Hancock holds for IAM.
• Prudential Retirement Strategies: Major recordkeeper and plan administrator for multi-employer and single-employer defined contribution plans; comparable retirement plan services and investment menu.

Direct peers

• IAM National Pension Fund: Sister IAM benefit plan (defined benefit) serving the same union membership via collectively bargained arrangements; directly comparable Taft-Hartley structure and employer base, but for a DB pension rather than a DC 401(k).
• IAM Benefit Trust Fund: Another IAM-affiliated multi-employer benefit trust providing health and welfare benefits to the same unionized workforce; operates under a similar joint Board of Trustees model.
• International Union of Operating Engineers Local 825 Pension Fund: Taft-Hartley benefit funds for operating engineers and their employers; same multi-employer, jointly-trusteed model covering union heavy-equipment operators.
• Southwest Carpenters 401(k) Fund: Multi-employer 401(k) plan covering Southwest Regional Council of Carpenters members and signatory contractors; analogous structure of collectively bargained DC plan serving union construction workers.
• NECA-IBEW Pension Fund: Multi-employer Taft-Hartley plan jointly sponsored by electrical industry labor and management; one of the largest collectively bargained benefit plans with similar DC 401(k) and pension offerings.

Emerging players

• Schwab Retirement Plan Services: Recordkeeper serving smaller and mid-size employer DC plans including multi-employer arrangements; potential alternative recordkeeper competing with John Hancock.

Regional players

• New York State Teamsters Pension Fund: Large multi-employer Teamsters benefit plan in the Northeast; analogous Taft-Hartley structure serving union members and signatory employers in a specific geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

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 401(k) Fund