Benefits of Participating in the UANPF
At the UANPF, we do what is in the best interest of our participants because they deserve it. Benefits from the UANPF are funded by employer contributions and investment earnings. The Fund’s assets are well-diversified and prudently managed by the Trustees to maximize returns for providing lifetime benefits for participants. This allows for:
- Benefit increases when the contribution rate goes up
- Additional benefits of 1.125 percent per month for all contributions over $5 per hour
- Benefit schedule with an accrual level for any contribution rate at $0.13 or above per hour
- Up to five years of Past Service Credit for newly participating Local Unions.
Is your Local Union considering joining the UA National Pension Fund?
We are proud that there are over 175 UA Local Unions and District Councils that participate in the UANPF, which is a testament to our financial stability and the services we provide. If your Local Union is interested in participating, here are some options:
- Supplemental participation in addition to your Local Pension Fund by adding a contribution to the UANPF to the wage and fringe package in your Local’s collective bargaining agreement.
- A merger of your Local Pension Fund into the UANPF – contact us to find out more about this option.
- Participation by existing or new groups or divisions within your Local Union such as: Service and Repair; Maintenance; Residential; Building Operations; Outside Shops and Facility Based Personnel.
Highlights of the UA National Pension Fund for your Members
A member’s eligibility for a pension and the amount of the benefit they will receive at retirement depend on several factors including how much time the person worked for contributing employers, the rates at which contributions were made on their behalf, and their age at retirement.
As a participating Local Union in the UANPF, your members will earn two types of credit while they are working for a contributing employer: a pension credit (which can be either future service credit or past service credit) and vesting service.
Each member will earn future service credit for time they work while the employer is obligated to make contributions to the Fund on their behalf (referred to as covered employment). Your members may also be entitled to past service credit for time they worked before their employer became obligated to make contributions to the Fund on their behalf.
Members earn one year of vesting service for any calendar year they work at least 870 hours while the employer is making contributions to the Fund on their behalf. Your members earn a nonforfeitable right to a pension from the Fund — that is, they become vested — when they have five years of vesting service (if they worked at least one hour in covered employment on July 1, 1998 or later).
Your members can retire on a normal pension at age 65 provided they have five years of pension credit, which includes at least 1,500 hours of work in covered employment after their contribution date (when their first contributing employer in the jurisdiction of the home Local Union was first obligated to make contributions to the Plan).
They are eligible to receive an early retirement pension as early as age 55 with five or more years of pension credit, which includes at least 1,500 hours of work in covered employment after their contribution date. Benefits will be reduced for each month they are under the age of 62.
If a member becomes totally and permanently disabled while working, they may be eligible for a disability pension prior to age 65, with no early retirement reduction.
Reciprocity between participating Local Unions allows your members to maintain their vested pension benefits and continue to earn additional benefits when they work for employers that are signatory to United Association collective bargaining agreements in areas outside the jurisdiction of your home Local Union.
The Plan pays monthly pension benefits for your members’ lifetime. Certain forms of payment under the Plan provide benefits to their spouse or beneficiary upon their death.
If your member passes away before they retire, their spouse or other beneficiary may be entitled to pre-retirement death benefits.
There are additional benefits to joining the United Association National Pension Fund. If you have any questions or you are interested in having your Local Union participate in the Fund, please contact our office. We would be more than happy to discuss any questions you have.
