The Alaska Ironworkers Trust Fund was established to provide pension benefits for eligible members and dependents through the collective bargaining process with the Iron Workers Local Union No. 751 Anchorage AK...
We believe the plan can be saved with this reduction and that it is the fairest approach to solving the problem. The plan is still dependent on investment returns and hours worked, but we now have a better chance of maintaining a strong contribution base, and enough assets to provide meaningful investment earnings - increasing our odds of being able to pay benefits for the long haul - and active participants have a better chance of earning meaningful benefit in the future.