Established in May 1996, Sheet Metal Workers National Pension Fund is a defined benefit pension fund. Located in Alexandria, Va., all its fund assets are held in one trust for the benefit of all participants. It is funded entirely by employer contributions and earnings on investments. Federal law governs Sheet Metal Workers National Pension Fund. The Fund is regulated by the Department of Labor, the Treasury Department (and IRS) and the Pension Benefit Guaranty Corporation (PBGC).