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The Western Conference of Teamsters Pension Plan was established in 1955 through collective bargaining between labor and management. More than 300,000 Teamsters are covered through pension agreements negotiated by local unions with about 5,200 employers in 13 Western states.
Your Plan provides more than just lifetime retirement benefits. It protects you if you become totally and permanently disabled before retirement. Whether you die before or after retirement, your Plan can provide monthly income security to your surviving spouse and minor children and substantial lump sum death benefits to your designated beneficiary.
Your Plan’s broad representation allows you to continue coverage under the Plan even though you may change from one participating employer or one participating local union to another participating employer or local union. Pension benefits are completely portable for those who work for an employer who contributes to the Plan. Reciprocity agreements with many Teamster pension plans throughout the country add further protection.
Your Plan is a multiemployer defined benefit pension plan. This means that many different employers contribute to the Pension Trust on behalf of their covered workers. It also means that your benefits are based on a set formula so that your future benefit can be determined by this formula. It is a qualified plan under federal tax law.
Both by law and intent, your Plan is for the exclusive benefit of Plan participants, retirees and beneficiaries. Plan decisions must be agreed to by an independent Board of Trustees, made up of 14 Trustees from labor and 14 Trustees from management.
Your Plan is administered by independent, third-party organizations whose only obligations are to you and your fellow participants. All information about your benefits is kept strictly confidential.
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