Local 577 M
“It’s a rare fund and my retirement would be poor without it. I can’t think of any other fund that you get every penny you put in. When I retired, I had paid in a total of $88,000 over 39 years. If I live 25 years past my retirement age, the fund will provide a little under a million dollars in pension payments. I got what I paid in a couple of years and the rest is pure profit.
No other workers get a pension like this. I tell new workers that they don’t know what they are missing out on. If possible, it’s best to contribute over the course of your entire career. It’s important for potential participants to know that Fund contributions are tax-deferred, so you’ll save on taxes while you are working. When you stop working, you’ll have the entire amount you’ve contributed and a guaranteed monthly benefit. It would be foolish not to join. I have two pensions, one paid for by the company and the other the ILPF, paid by me. The company plan doesn’t hold a candle to the ILPF. This fund is in better shape and it’s more financially stable.”