Free planning assistance

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Preparing for retirement and understanding your pension and other benefits can feel daunting. But you don’t have to do it alone.

Local 49 partners with Megent Financial and the Midwest Coalition of Labor to make retiring simpler.

Megent is your “one-stop shop” for planning — at no cost to you. And when the time comes for you to retire, they’ll work directly with the Central Pension Fund, Local 49 Health Fund and more on your behalf. They can also help you understand other major financial decisions, such as home and vehicle purchases or college planning.

For over 40 years, they’ve been working as financial advisors to the men and women in organized labor. Their firm relies on relationships with our fund offices, the Central Pension Fund, and experience with Social Security benefits to present a full picture of what your individual financial situation will look like post-retirement. And they serve as fiduciaries, which means they’re legally obligated to act in your best interest.

This service is one of the many benefits provided to you through Local 49 and the MCL. Megent’s consultation and services are free to all members in good standing of Local 49. You won’t pay anything unless you choose to have them manage investments for you, which is optional.

Contact Megent at 708-444-1090 or to begin your individual consultation.


Central Pension Fund

The Central Pension Fund is the second largest labor-management pension fund in the nation, and it is a fully funded pension fund.



Defined Contribution Plan

Think of the Local 49 Defined Contribution Plan as an additional retirement fund. If you work under an agreement with the plan, contributions made on your behalf by your employer go into a trust fund for investment purposes and are recorded in a separate account called your “Individual Account.” Participation in the plan begins the first day of the month following completion of 400 hours of service within a 24-month period. Your defined contribution is separate from any other pension benefits you may earn.