Average Sheet Metal Worker Pension

The sheet metal workers national pension fund is a defined benefit pension fund.

Average sheet metal worker pension.

The pension fund pays approximately 2 8 million in benefits each month to retirees and surviving spouses of sheet metal workers local 73. Benefits are paid as a monthly annuity or monthly payment. You must be considered retired under the plan to receive a pension meaning you cannot be engaged in any disqualifying employment or perform any work in the sheet metal industry as of the date you want benefits to start. An experienced sheet metal worker with 10 19 years of experience earns an average total compensation of 28 18 based on 245 salaries.

As of june 30 2019 the pension fund provided approximately 3 000 retirees and beneficiaries with a monthly pension benefit. The 3 7 billion sheet metal workers national pension fund last month became the latest defined benefit plan to shift some investment risk to employees. The information provided after successful login is for the exclusive use of active participants of the sheet metal worker s national pension fund. The states and districts that pay sheet metal workers the highest mean salary are hawaii 76 900 new york 70 070 illinois 69 780 minnesota 68 870 and washington 65 360.

In general your normal retirement age is age 65 or the fifth anniversary of your participation in the plan. Plan participant sign in. There are no individual accounts. A message from the smw national pension fund board of trustees.

If you do not have an hour of work after january 1 1988 your normal retirement age is age 65 or the tenth anniversary of your participation in the plan. Sheet metal workers local 25 health welfare fund medicare eligible retirees the sheet metal local 25 welfare board of trustees are pleased to announce the pharmacy coverage for all medicare eligible retirees will change to an employer sponsored cigna healthspring rx part d plan pdp for january 1 2020. All fund assets are held in one trust for the benefit of participants. 15 or more years of pension credit including at least one year of future service credit and have attained age 55.

The fairfax va based union pension fund. Sheet metal workers use saws lasers shears and presses. Sheet metal workers need good hand eye coordination and motor control to make precise cuts and bends in metal pieces. If you are not a participant in the plan or if you are currently receiving retirement benefits from the plan please exit this screen immediately.