The Western Conference of Teamsters Pension Plan, established in 1955 through collective bargaining between labor and management, is the largest area-wide multiemployer pension plan in the United States. Covering 223,000 active participants through pension agreements negotiated by local unions with over 1,400 employers nationwide, the plan offers major benefit improvements, including an extended bonus accrual rate and an expanded child survivor benefit.
With a strong investment track record, the plan's trustees have approved an extension of the 1.6 bonus accrual rate through 2025, benefiting all participants regardless of their years of service. Additionally, the child survivor benefit has been expanded to include dependent children up to age 22, with increased monthly benefits for eligible participants' families. The plan remains in the green zone for 2023, ensuring its financial stability and continued growth.
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