Average Sheet Metal Worker Pension

The fairfax va based union pension fund.

Average sheet metal worker pension.

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. The information provided after successful login is for the exclusive use of active participants of the sheet metal worker s national pension fund. Sheet metal workers must calculate the proper sizes and angles of fabricated sheet metal to ensure the alignment and fit of ductwork. Benefits are paid as a monthly annuity or monthly payment.

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. Sheet metal workers use saws lasers shears and presses. 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. 15 or more years of pension credit including at least one year of future service credit and have attained age 55.

The pension fund pays approximately 2 8 million in benefits each month to retirees and surviving spouses of sheet metal workers local 73. An experienced sheet metal worker with 10 19 years of experience earns an average total compensation of 28 18 based on 245 salaries. A message from the smw national pension fund board of trustees. Sheet metal workers need good hand eye coordination and motor control to make precise cuts and bends in metal pieces.

There are no individual accounts. The sheet metal workers national pension fund is a defined benefit pension fund. 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. 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.

2020 pension check posting dates retiree self payments effective march 1 2020. In general your normal retirement age is age 65 or the fifth anniversary of your participation in the plan. All fund assets are held in one trust for the benefit of participants. As of june 30 2019 the pension fund provided approximately 3 000 retirees and beneficiaries with a monthly pension benefit.