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The Metro-ILA Individual Account Retirement Fund (I.A.R. Plan) was established on January 1, 1997 to provide Metro-ILA workers with a source of retirement income in addition to Social Security and other retirement benefits.

The I.A.R. Plan is considered a Defined Contribution Plan. This means that an employer contributes a specific dollar amount (currently $3.00 for each hour worked) on behalf of eligible Metro-ILA workers. In turn, the contributions are allocated into an individual account set up for each plan participant.

The Plan is also self-directed. This means participants make their own investment decisions with the monies that are deposited in their individual accounts. Participants can choose from a menu of mutual funds and fixed income options that represent the full range of investment risk from conservative to more aggressive styles.

The individual accounts are maintained by MassMutual which is retained by the Plan’s Trustees to provide recordkeeping and administrative services. The Fund’s staff, on behalf of the Trustees, is responsible for the day to day operation of the Plan. This includes ensuring that contributions are collected and transferred in a timely manner to MassMutual for crediting into the individual accounts.

Developing an Investment Strategy

Making personal decisions about investing can be difficult. Metro-ILA I.A.R. Plan participants can build confidence in this area by learning as much as they can about their own personal retirement goals and about the investment options available to them. A small commitment of your time may not make you a financial expert, but it will help to build a stronger financial future. Here are a few suggestions to help Plan participants get started:


  • Visit MassMutual’s website or call them at: 1-800-743-5274.
  • Take the Investor Profile Quiz to help determine your strategy.
  • Attend the periodic educational meetings sponsored by the Plan Trustees where you can hear from a MassMutual representative directly.
  • Call the Fund Office with questions. We can’t give you investment advice, but we might be able to point you in the right direction.
  • Consult your own financial expert. If you don’t have one, visit your bank or credit union for help.
Important Notices