About the Steelworkers Pension Trust

The Steelworkers Pension Trust was established in 1953 to provide reliable retirement income for its members. For three decades, we built a pension system rooted in the belief that every worker deserves dignity in retirement.

The Steelworkers Pension Trust serves more than 120,000 participants—active workers, retirees, and those with vested benefits—supported by contributions from over 400 participating employers. With approximately $7 billion in plan assets, the SPT is among the most established multiemployer pension plans in the United States.

How the Plan Works

The SPT is a defined-benefit pension plan, meaning your retirement benefit is determined by a formula based on employer contributions—not by the ups and downs of the stock market. Here are the key features:

Our Board of Trustees

The Board of Trustees is responsible for overseeing all Trust operations and performance.

The Board of Trustees consists of ten (10) Trustees, five (5) representing employees (Employee Trustees) and five (5) representing employers (Employer Trustees).

All decisions made by the Trustees must be approved by a majority of the Employee Trustees and a majority of the Employer Trustees. 

Our Employees

Governance

The Steelworkers Pension Trust is governed by a Board of Trustees composed of both union-appointed and employer-appointed representatives. This balanced governance structure—known as a Taft-Hartley arrangement—ensures that decisions are made in the best interest of all participants.

The Board oversees plan administration, investment policy, benefit calculations, and compliance with federal pension law (ERISA). Day-to-day claims processing and participant communications are handled by Zenith American Solutions, the plan’s third-party administrator.

Steelworkers Pension Trust Headquarters