The I.A.M. National Pension Fund began in 1960. The Fund had one employer contributing 10 cents an hour per employee. In 2005, It now has over 1,700 contributing employers. Combined with growing employer contributions and solid investment performance the fund's assets have risen to $320 million in 1978 and over $7 billion today.
For the IAM National Pension Plan, we included the following factors:
A |
% Change - Is your plan growing or shrinking? |
B |
% Active - How many members in your pension plan are active contributors? |
C |
Assets divided by Liability - Perhaps the single best indicator of your plan's health. |
D |
Has your plan been given a funding waiver? Could be a Warning Sign. |
E |
How much of the value of your plan is coming in via contributions? |
F |
Expenses to Income ratio helps show how efficiently your plan is being managed. |
G |
The presence of related party transactions has been a warning sign in the past. |
H |
Potential red flag - minimum funding waiver used in the past |
I |
Potential red flag - Was the minimum fund contribution made? |
J |
Potential red flag - Has there been a change in the actuarial cost method? |
Data comes from the most recent IAM National Pension Plan Form 5500 (Year: 2005) found at www.freeERISA.com. If you have questions or concerns, the best person to ask is your Plan Administrator or your financial advisor.
# of Participants |
A |
B |
Beg.of Yr. |
End of Yr. |
% Change |
% Actives |
211,563 |
218,700 |
3.4% |
36.6% |
Actuarial Value of Assets |
Current Liability |
C |
D |
Assets/ Liability |
Funding Waiver? |
Yes |
No |
|
$ 6.7 B |
97% |
|
X |
Total Contribution |
E |
Total Income |
Total Expenses |
F |
Contribution to Value % |
Expense to Income Ratio |
$186 M |
2.8% |
$ 897 M |
$374 M |
41.7% |
G |
H |
Related Party Trx? |
Min. Funding Waiver? |
Yes |
No |
Yes |
No |
| |
X |
|
|
I |
J |
> Min.Contribution? |
Change in Cost Method? |
Yes |
No |
Yes |
No |
X |
|
|
XX |
Year 2004: IAM National Pension Plan Form 5500 (Year: 2004)
Please let us know if you have any questions, if you find this guide useful, or if you have any suggestions to help improve it.
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