Originally established as the Individual Account Plan (IAP) in 1982 under the IAM National Pension Fund, the IAP changed to a 401(k) plan in 2001. In May of 2014, the IAM National 401(k) Fund was established under a separate Trust Agreement from the IAM National Pension Fund.

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The Plan is administered by the Board of Trustees of the IAM National 401(k) Fund. The recordkeeper for the Plan is John Hancock Retirement Plan Services.