The Central Pension Fund (CPF) is a multi-employer pension fund established in 1960 to provide retirement, disability and death benefits to members of, and individuals represented by, the International Union of Operating Engineers. Plan benefits are based upon annual employer contributions for participants which are reported to CPF from employer locations.
CPF is governed by a Board of Trustees comprised of employee and participating employer representatives. CPF's responsibilities include servicing participants and employers, supporting the employers and unions by maintaining a pension plan that will attract and retain employees, fulfilling the fund's fiduciary role and ultimately paying pension benefits.
- The Central Pension Fund has $18 billion in assets.
- CPF has over 6,200 contributing employers.
- CPF has over 120,000 active participants and pays benefits to over 72,000 recipients and beneficiaries each month.
- CPF is the 2nd largest multi-employer defined benefit pension fund in the United States.