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The Steelworkers Pension
Trust was created in1953 by the Upholsterers' International
Union (UIU). In 1985 when the UIU merged with the United Steelworkers
, the USW became the sponsoring union.
Headquartered in Trevose,
Pennsylvania, the Trust is staffed by (32) full time employees.
The clerical employees are represented by the Office
Professional Employees International Union (OPEIU).
Solely funded by employer
contributions negotiated by the union with a minimum of $.20
C/P/H or 2% of gross earnings, the Trust has approximately
60,729 participants, 570 Participating employers, and $1.6
billion in assets.
The Trust is generally a
future service plan with the amount of benefits a retiree
receives dependent directly upon the age of the retiree at the
time of retirement and the total contributions paid into the
Trust by the employer(s) on the service of that retiree while
an employee.
The Trust provides on-site
assistance at no cost to the union.
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