September 12, 2013: The latest financial report (first quarter 2013) for the Central States Pension Fund is now available, and reflects assets of $18.3 billion as of March 31, 2013.
This represents a $517 million gain in the first quarter, due to the big run-up in the stock market during that period. Since that time, the stock market leveled off, and bonds have done poorly, so the current balance is certainly lower. The fund relies overwhelmingly on investment returns to pay benefits, since Hoffa allowed UPS to leave the fund in 2007.
Central States Health & Welfare Financial Report
You can read the First Quarter 2013 Financial Report on the Central States Health & Welfare Fund for a detailed look at the financial health and operation of the fund.
This financial information was attached to a report on the separate Central States Pension Fund; that report was compiled by Independent Special Counsel David Coar, Esq, and was submitted to federal judge Milton I. Shadur.
The H&W Fund, which now uses the name TeamCare, reported 81,600 active participants, but plans to add some 144,000 UPS Teamsters when the UPS contract is finally acceptable to members and the regional supplements are ratified.
Unlike the pension fund, it is operating in the black and has strong financial reserves.
This financial report is only available from Teamsters for a Democratic Union (TDU).