In Memoriam

They have seen changes to their benefits, and they have made the needed pension fund contribution increases. The Green Zone certification is a proud moment for our members, local unions, and employers, but we must continue to be vigilant in our management of the Fund to protect the retirement security of our members.”

The Washington Examiner listed the NPF as one of the worst-funded union pension plans in the country. Now, 12 years later, the hard work and sacrifice of participants, local unions, and employers have led to an extraordinary turnaround that will benefit members for years to come. After a long period of hard work, this is a moment worth celebrating. It is also a moment for vigilance and foresight: there is more work to be done to ensure the NPF continues to grow. As Sellers points out, the volatile markets in 2022 demonstrate that we must continue to be attentive in our management of the NPF in order to protect the retirement security of SMART members. Nonetheless, growth in funding percentage from 52.3% in 2008 to 81.5% in 2022 is a notable signifier of the strength and commitment of our union — now and in the future.

Washington-area members should note that their pension fund is separate from the National Pension Fund.