This month, the International Pension Fund (IPF) – a defined benefit plan covering 92% of BAC members throughout the U.S. that ensures the retirement security of more than 26,000 U.S. pensioners and beneficiaries – reached an important milestone in paying a cumulative $3 billion in pension benefits. Established in 1972, IPF has grown to become a powerful force in the masonry industry through it’s investment in Union-only construction projects and driving innovation in participant services and benefit delivery. Despite the cyclical nature of the construction industry, the Trustees of the Fund remain steadfast in their determination to improve the lives of IPF participants and their families. More than just a number, this $3 billion milestone is best appreciated in the financial security that IPF provides Union retirees with each monthly benefit payment it makes.
|