Local 701 Pension News

We have all read about individuals losing most of their retirement savings because of accounting irregularities, auditing oversights, executive fraud and the stock market decline. Those members who are participants in the Local 701 Pension Plan may be secure in the knowledge that their pension benefits are safe and that the unreduced benefit remains at the current $80.00 per year of service. 

The Trustees of the Pension Fund, headed by Fund Chairman and Local 701 DBR Dennis Jawor, have done an outstanding job ensuring that your pension will be there when you retire. Unlike those who rely on 401k's that generally allow for limited investment options, the Trustees of the Local 701 Pension Fund utilize the services of over one dozen of the top professional investment management firms. These managers each specialize in various investment disciplines that allow for proper diversification of the funds available for investment. Diversification is certainly the key in financial times such as these. It is diversification that has enabled the Pension Fund to ride out the stock market downturn and thereby maintain full funding for all of the benefits you have been promised. 

These are certainly difficult times for investors but the size of your Pension Fund and the style of investing the Board of Trustees elected to follow have kept your pension safe for today and for tomorrow.