Sheet
Metal Workers' International Association
Local Union No.73
Pension Welfare and Annuity Funds
The Sheet Metal Workers' Local 73 Pension Fund is a Defined Benefit
Plan that is designed to provide its participants with the income security
that is needed to enjoy their retirement years. The Pension Fund is
jointly administered by a six member Board of Trustees: 3 Labor Trustees
and 3 Employer Trustees. Each Trustee is afforded one vote and serves
without fees or other compensation as a Trustee. Funding for the Pension
Plan comes from two sources: Collectively Bargained Employer Contributions
and Investment Income.
Each month, the Pension Fund provides retirees and surviving spouses
of Sheet Metal Workers' Local 73 with the income security that is needed
to fulfill their retirement goals. As of June 30, 2007 the Pension Fund
provided approximately 2,900 retirees and beneficiaries with a monthly
pension benefit. The Pension Fund pays approximately $2.7 million in
benefits each month to retirees and surviving spouses of Sheet Metal
Workers' Local 73.