25% Pension Bonus Granted for Service in 2020! – See News Below.
We are Still a Green Zone Plan!
The Western Conference of Teamsters (WCT) Pension Plan was established in 1955 through collective bargaining between labor and management. Today your Plan is the largest area-wide multiemployer pension plan in the United States. It covers 215,000 active participants through pension agreements negotiated by local unions with more than 1,400 employers nationwide. Read more about the Trust.
NEW 25% Pension Bonus Granted for Service in 2020
The Trustees have granted a special one-year 25% pension bonus under the Plan's contribution account benefit formula for the year 2020, increasing the benefit percentage from 1.2% to 1.5% of contributions for that year. Therefore, Plan participants will earn a higher pension for every hour of covered work for 2020. The Trustees were pleased to grant this bonus in light of the Plan’s recent funding improvements and accelerated path toward its funding targets.
This Actuarial Certification with Explanation and 2019 Funding Certification (required by the Pension Protection Act) states that the WCT Pension Plan remains in the "green zone" for 2019.
Personal Benefit Statements are mailed in late May to the homes of participants who worked 250 or more covered hours in the previous year and have a current address on file. If you do not receive one, contact your Administrative Office and verify your mailing address. Click here to see a sample statement.
See the letter dated May 3, 2019, from the Union Chairman of the Trust to Teamster Joint Councils and Local Unions participating in the WCT Pension Plan. He provides an update on the Plan’s most recent investment performance and funding status while explaining both the challenges and opportunities in the year ahead.
See the latest letter dated June 3, 2019, to Contributing Employers from the Employer Chairman of the Trust reviewing the 2018 investment results, the Plan’s funding status and other issues.
Now retirees and beneficiaries can log in to their WCT Prudential accounts for 24-hour access to benefit payments. At this site, they can update direct deposit and tax elections, view and print tax documents and more.