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The industry pension plan the ILWU-PMA Pension Plan is world-class, and has seen major upgrades since the seminal technology agreement of 2002. Currently, the 2021 maximum yearly retirement benefit is $95,460. At the end of calendar year 2021, the Plan paid $36.6 million per month to 9,194 benefit recipients.
Illinois retirement systems data shows the median career pensioner drew an annual payment of $82,478 from the state in 2021.
Since 1950 the Hampton Roads Shipping Association-International Longshoremens Association (HRSA-ILA) has maintained a pension plan to help its employees provide for that security.
ILWU-PMA Benefit Plans administers healthcare and pension benefits to the active and retired longshore workers of the West Coast, as well as their dependents and survivors.
The amount you are entitled to is modified by other factors, most crucially the age at which you claim benefits. For reference, the average Social Security retirement benefit in 2023 is an estimated $1,827 a month.
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For example, currently when you retire from Local 505 with 30 years of service, based on 1750 hrs per year (most workers work more hours), you will receive a monthly pension payment of $2,575.39 or $30,904.68 per year which equals $594.32 per week average for the rest of your life, this is in addition to Social

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