Western Conference: The Return of Pension Cuts

November 14, 2008: The Western Conference of Teamsters Pension Fund has cut the pension accrual rate, effective Jan. 1, 2009, to 1.2 percent of employer contributions.

For 2008 the accrual rate was two percent for Teamsters with less than 20 years in the fund, and 2.65 percent for 20-plus years. So this is approximately a 50 percent cut in what each Teamster will add to their pension next year.

The Western Fund is well funded and is in the “Green Zone” under the Pension Protection Act (PPA) standards. This big cut was imposed because of the recent nose dive in the stock market.

TDU will obtain and make available documents that the fund must disclose because of requirements in the PPA, as soon as they are available.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

1,500 Kroger Teamsters Exit the Central States Fund

Teamster employed at three Kroger warehouses and two dairies have been removed from the Central States Fund, in an arrangement similar the removal of 44,000 UPS Teamsters in 2007.  

The Push is On for Butch Lewis Act

Today, at a press conference held in Washington D.C., Mike Walden, president of the National United Committee to Protect Pensions (NUCPP), reminded the assembled press and Congressional staffers, Senators and House Representatives, delegations of Teamsters and Mineworker retirees, of Butch Lewis’s remark, “A promise is a promise is a promise.” It’s that promise that this movement has grown to defend. And it’s happening loud and strong as we reach for the new law that will protect that promised retirement security.

View More News Posts