WCTPT Summary Plan Booklet 2023 Now Available
The Updated Western Conference of Teamsters Pension Trust Summary Plan Booklet 2023 is Now Available in PDF Form. Click Here to View or Download the PDF
Western Conference of Teamsters Pension Trust Benefit Improvements
Building on the strong investment results of 2023, the Trustees of the Western Conference of Teamsters Pension Trust approved major benefit improvements at their January 2024 board meetings which took place the week of January 8 and 9, 2024.
Contribution Accrual Rate
- Effective Jan. 1, 2024, the WCTPT trustees approved an extension of the 1.6% bonus accrual rate through Dec. 31, 2025.
- This accrual rate applies to all participants regardless of the years of service the participant has earned.
- The accrual rate will return to 1.2% as of Jan. 1, 2026.
- The accrual rate for earning non-contributory service remains at 1.2%.
Child Survivor Benefit
The trustees also expanded the child survivor benefit in three important ways:
- Effective July 1, 2024, the WCTPT trustees will extend the survivor benefit to include dependent children up to age 22. Currently, the survivor benefit is payable to dependents up to age 18.
- Also, the child survivor benefit is being expanded to cover units at a basic contribution rate of $0.10 or higher so that the Teamster family of an eligible participant with an average contribution rate from $0.10 through $0.99 can qualify for a benefit of $1,000 per month.
- For units at an average contribution rate of $1.00 or higher, an eligible participant’s family can qualify for a child survivor benefit of $2,000, double the current maximum monthly amount per family.
These changes all apply to families of participants who die on or after July 1, 2024.
