The USW Industry 401(k) Plan is a retirement savings plan for employees of employers who have signed an agreement allowing for contributions to the Plan. The USW Industry 401(k) Plan is sponsored by the USW International Union and contributing employers and is available to members of USW Local unions, and other employee groups through negotiation with employers.
This plan provides an exciting opportunity to supplement traditional pension plan benefits with additional retirement income.
The USW Industry 401(k) Plan allows participants to contribute a percentage of their pay on both a pre-tax and after-tax basis and invest in a number of professionally managed investment options. That means participants can put their money, along with negotiated (if applicable) employer contributions, into a retirement savings plan.
Some advantages to being a participant in the USW Industry 401(k) are:
- Employer contributions may be negotiated on behalf of all covered employees
- Elective Deferrals (before tax employee contributions) are made through payroll deduction
- Employer Matching contribution may be negotiated
- 100% vesting
- More than 20 investment options
- Employees decide where they want to invest - not company
- Hardship distributions and loans
- Rollovers accepted from other plans
- Quarterly statements
- Web access to your account - www.massmutual.com/uswindustry401k
If you need forms for your USW Industry 401(k) account, please see 401k/Mass Mutual Forms.
If you need information regarding the USW Industry 401(k) Plan, such as the Plan Document, SPD or Trust Agreement, please see 401k Documents.
If you do not participate in the USW Industry 401(k), talk with your USW International Representative and let him or her know that your Local is interested in participating.
If you already participate in the 401(k), please let us know how we can better serve you!