The Joint Industry Engineers Union Local 30 Pension Trust Fund is in its 49th year of operation and remains financially stable and healthy as a defined benefit plan.  During 2002, more than 720 pensioners and beneficiaries will receive more than $4.2 million.  Current pensioners are retiring with more than $1500.00 a month guaranteed for life or to surviving spouse under various, "Husband and Wife options".

With a defined benefit plan, you can never outlive your retirement income.  The check will be there month after month.  This compares to a large number of retirees who have seen their retirement plans reduced dramatically due to financial losses in the stock market.  A number or retirees have had to return to work or postpone their date of retirement because their retirement benefits have not provided the necessary assets for retirement.

The Trustees of Local 30 Pension over the years have taken a more conservative approach than others in investments, keeping the asset mix at 50% in stocks and 50% in bonds.  This has helped the Fund meet its actuarial obligations year after year and also pay meaningful retirement benefits over the years.

Today and tomorrow you can rest assured that as a member of Local 30 you have the protection of a Union-sponsored retirement plan providing a financial base for your later years.  With your Local 30 Annuity Plan, Social Security and personal saving the dreams you have for retirement should be met for you and your family in the years ahead.

Frank L. Kelly, Jr.
Benefit Funds Executive Director