The Western Conference of Teamsters Pension Trust

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Five-Year Average Benefit Up to December 31, 1986
...Plus Contribution Account Benefit From January 1, 1987 and Into the Future

Your Normal Retirement Benefit is the total of your Five-Year Average Benefit
PLUS
Contribution Account Benefit

Five-Year Average Benefit up to December 31, 1986

Based on Service Credits Earned Through 1986 and Five-Year Average Rate Through 1991

Total Service Credits
(earned through 1986) X Benefit Factor = Five-Year Average Benefit

SERVICE CREDITS
Your Plan bases your five-year average benefit on the total past and future service credits you earned through 1986, up to a maximum of 33 1/3 service credits.

You earn one future service credit for each 1,875 covered hours you completed through the end of 1986.

BENEFIT FACTOR
Your Plan bases your benefit factor on your five-year average rate. In most cases, your five-year average rate is the average of the contribution rates paid by covered employers on your behalf in the five most recent calendar years up through 1991.

Your Plan determines your five-year average benefit by multiplying your total service credits by your benefit factor. Click here to see a brief listing of representative five-year average rates and related benefit factors.

... Contribution Account Benefit from January 1, 1987 and into the Future

Based on Percentage of Contributions Paid on Your Behalf for Work After 1986

PERCENTAGE OF CONTRIBUTIONS
Your contribution account benefit grows each month that your employer contributes to the Plan. The benefit is a percentage of the total basic contributions paid for your work after 1986. For your covered employment from 1987 up through June 2003 and in calendar year 2008, the benefit percentage depends on whether the contributions are for work during your first 20 years of service or for work that comes after your first 20 years of service. For your covered employment beginning July 2003 through 2007, the benefit percentages are the same regardless of your years of service.

Under this formula, your contributory service benefit consists of:

2.00% of all the basic contributions made for your covered work (from 1987 through June 2003) during your first 20 years of service. The benefit percentage was higher in some of those years.

PLUS

2.65% of all the basic contributions made for your covered work (from 1987 through June 2003) that comes after the end of your 20th calendar year of service. The benefit percentage was higher in some of those years.

PLUS

1.20% of all the basic contributions made for your covered work between July 1, 2003 and December 31, 2006 (regardless of your years of service).

PLUS

1.65% of all the basic contributions made for your covered work during calendar year (regardless of your years of service).

PLUS

2.00% of all the basic contributions made for your covered work in calendar year 2008 during your first 20 years of service.

PLUS

2.65% of all the basic contributions made for your covered work in calendar year 2008 that comes after the end of your 20th calendar year of service

Your Plan uses your years of service to determine the percentage of contributions credited to your contribution account benefit for your covered work through June 2003. You earn a year of service for:

Each calendar year that ends during your period of past employment, up to a maximum of 10 years.
Each calendar year of vesting service after your first covered hour.

CONTRIBUTION ACCOUNT BENEFIT PERCENTAGES
For covered work from January 1992 through December 2007 and in calendar year 2008, your Plan uses different percentages that affect the monthly benefit you earn. Click here for more information.