In the fall of 1960, the Central Pension Fund of the International Union of Operating Engineers and Participating Employers (“Central Pension Fund”) was established by the IUOE and a small group of contributing employers. The Central Pension Fund has experienced exponential growth since that time and is now one of the largest and most well-funded multiemployer defined benefit pension funds in the United States.
We are honored to serve hundreds of thousands of participants, beneficiaries, and their families, providing a safe, secure, and reliable lifetime pension. With the strong support of IUOE Local Unions and over 6,000 contributing employers throughout the United States, the Fund remains well placed to provide secure, lifetime annuity benefits not just today, but well into the future.
We have gone through many changes over the last 65 years, and we continue to evolve in an effort to provide the best service possible to our participants, beneficiaries, contributing employers, and participating IUOE Local unions. In that regard, we recently initiated a dedicated customer service team to answer calls from participants, recipients, and beneficiaries quickly and efficiently, and have been reworking many of our forms, documents and instructions to make them easier to understand. Finally, within the next few years, we expect to implement a new pension administration system, which will further modernize our operations and provide participants, beneficiaries, contributing employers, and participating local unions with easy access to a wide range of customer service tools.
So please join us in celebrating 65 years of the Central Pension Fund. It has been an honor to serve you and provide you with a secure and dependable retirement. And rest assured that we are working hard to be here when you need us, now and for decades to come.
