Frequently Asked Questions (FAQs)
Employers FAQs
- Who manages the National Pension Fund’s day-to-day operations?
- How is the National Pension Fund funded?
- What is a Contributing Employer?
- I am a new Contributing Employer, when are contributions due to the Fund?
- What are the National Benefit Funds?
- My company was assessed “Liquidated Damages” or “Late Fees” - why?
- I am a new Contributing Employer, how can I remit my contributions on-line?
- If I do not report via the IPS, when will I begin receiving a remittance form from the Fund?
- If the pre-printed information on the remittance form is incorrect, may I change it on the form?
- I did not receive my remittance form this month and am unable to use the Internet Payment System described above. What should I do?
- Our company is no longer required to contribute on a specific classification. What should we do?
- Do our employees have an individual account with the NPF?
- Our company has received information that the NPF is in Critical Status – what does that mean?
- When will the NPF be out of critical status?
- How can I obtain a copy of the Rehabilitation Plan?
- The Rehabilitation Plan consists of both an Alternative Schedule and the Default Schedule which one applies to employees working for my company?
- Where can I get more information about the Fund?
Who manages the National Pension Fund’s day-to-day operations?
The Board of Trustees is responsible for overseeing the Fund’s operations and performance. The Fund Administrator oversees the day-to-day operations, which includes the Fund staff responsible for processing benefits and Employer Contributions. Learn more about the Trustees.
How is the National Pension Fund funded?
Funding for the NPF comes entirely from contributions remitted by our Contributing Employers and investment earnings.
What is a Contributing Employer?
A Contributing Employer (“Employer”) is an employer who is obligated to contribute to the Sheet Metal Workers’ National Pension Fund in accordance with the Collective Bargaining Agreement (“CBA”).
I am a new Contributing Employer, when are contributions due to the Fund?
The general due date for the National Benefit Funds is no later than the 20th of the month after the month in which the work is performed; however, you should check your collective bargaining agreement as your due date may be earlier.
What are the National Benefit Funds?
The National Benefit Funds is comprised of Sheet Metal Workers’ National Pension Fund (“NPF” or “Fund”), International Training Institute (“ITI”), Sheet Metal Workers’ Occupational Health Institute Trust (“SMOHIT”), Sheet Metal Workers’ National Supplemental Savings Plan (“NSSP”), SASMI, SASMI II, the National Energy Management Institute Committee and the SMWIA Scholarship Fund. The NPF is the collections agent for all National Benefit Funds.
My company was assessed “Liquidated Damages” or “Late Fees” - why?
If a Contributing Employer fails to send in a remittance report(s) and contribution(s) by the due date it will be assessed interest and late charges.
I am a new Contributing Employer, how can I remit my contributions on-line?
A Contributing Employer can file its monthly report and pay electronically using our Internet Payment System (“IPS”). We encourage all of our Contributing Employers to remit their contributions electronically through the IPS to insure a timely remittance which will avoid liquidated damages and interest, but also to save your company time and money. The IPS allows Contributing Employers to send both their monthly data and to make their monthly payment through our secure website. Learn more about our Internet Payment System (“IPS”) by contacting .(JavaScript must be enabled to view this email address).
If the IPS is not used, a Contributing Employers can mail their monthly remittance on a monthly remittance report. This method for making monthly contributions is described in more detail below.
If I do not report via the IPS, when will I begin receiving a remittance form from the Fund?
Computer generated, pre-printed, multi-copy remittance forms are mailed to Employers by the first of the month following the month hours were worked. For example, the forms for hours worked in January are mailed to the employer by the first of February.
If this office is notified of a new Contributing Employer before the 18th of the month, a remittance form for that month will be mailed by the first of the next month. For example, if we are notified of a new Employer on January 10th, a January remittance form will be mailed by the first of February.
If this office is not notified of a new Employer until after the 18th of the month, a remittance form for the following month will be mailed to the Employer by the first of the second month following notification. For example, if we are notified of a new Employer on January 20th, a February form will be generated and mailed by the first of March.
Computer generated, pre-printed, forms cannot be generated for previous months, though reports for previous months can be added electronically thru our Internet Payment System. If we are notified too late for a form to be printed for a certain month, a blank remittance form is available. Keep in mind, if Covered Employment is performed, the Employer is obligated to report hours and remit contributions by the 20th of the month after the month in which the work is performed or, if earlier, the date specified in your collective bargaining agreement - even if you do not receive a form.
If the pre-printed information on the remittance form is incorrect, may I change it on the form?
Yes, just write the correct information on the remittance form; however, we ask that you do not totally cover up any information pre-printed on the form. If the changes are received in time, your changes will be reflected on the next billing cycle. If you believe that a pre-printed contribution rate is incorrect on your form, please attach documentation to support your claim to .(JavaScript must be enabled to view this email address). Contribution rate obligations will not be changed without proper verification.
I did not receive my remittance form this month and am unable to use the Internet Payment System described above. What should I do?
A Remittance Form can be obtained from our website; otherwise, contact .(JavaScript must be enabled to view this email address) for instructions. Whether or not an Employer receives a remittance form, it must report hours and remit contributions by the due date specified in the collective bargaining agreement to the following address:
Sheet Metal Workers’ National Pension Fund
P.O. Box # 79321
Baltimore, MD 21279-0321
Our company is no longer required to contribute on a specific classification. What should we do?
If your company remits contributions through our Internet Payment System, select the zero hours button located under your employees’ names. This will file a zero hours report for that month for that specific classification; however, you will continue to be billed the following month. If your company does not anticipate reporting on this classification and would like to discontinue this billing you should contact .(JavaScript must be enabled to view this email address).
If your company remits contributions on our remittance form, you should use this same form and select “Final Report” located in the white header area at the top of the form or contact .(JavaScript must be enabled to view this email address) to indicate that the form is no longer required.
Do our employees have an individual account with the NPF?
No, as a defined benefit plan all the assets of the NPF are held in one trust for the benefit of all Participants and Beneficiaries. Benefits are only paid out upon retirement. Benefits are paid out monthly, not in a lump sum except in limited circumstances and in very small amounts.
Our company has received information that the NPF is in Critical Status – what does that mean?
As required under the 2006 Pension Protection Act the NPF’s actuaries declared the Plan was in critical status as of February 2008. Briefly, this determination was made as the Plan was projected to have an accumulated funding deficiency within four years and the Plan’s funded percentage is less than 65%. In light of this, the NPF’s Board of Trustees was required to develop a Rehabilitation Plan to improve funding. The Rehabilitation Plan uses a combination of benefit adjustments and contribution rate increases and/or benefit adjustments to accomplish this goal. Learn more about the Rehabilitation Plan.
When will the NPF be out of critical status?
The objective of the NPF’s Rehabilitation Plan is to emerge from critical status in approximately 13 years commencing January 1, 2011.
How can I obtain a copy of the Rehabilitation Plan?
You may download a copy of the Rehabilitation Plan as well as review more information such as schedules and previous notices. You can also contact us at Fund Office or write us to obtain a copy. Please make sure you include your name and current mailing address in all requests.
The Rehabilitation Plan consists of both an Alternative Schedule and the Default Schedule which one applies to employees working for my company?
Under federal law the bargaining parties were required to adopt either the Default Schedule or the Alternative Schedule which is referenced in your Collective Bargaining Agreement.
Where can I get more information about the Fund?
Find more information on our About the Fund page, or contact the Fund Office directly.