Teamsters Local 492
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Western Conference of Teamsters Pension Trust Benefit Improvements
Feb 14, 2024

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:

  1. 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.
  2. 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.
  3. 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.


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Teamsters Scholarship Fund 2025

The Teamsters Scholarship Fund applications for the 2025 scholarship will be available starting Friday, November 1, 2024, at Teamster.org/scholarships.

Yellow Bankruptcy Update 11/26/2024

YELLOW CORPORATION BANKRUPTCY UPDATE 10/29/2024 - Yellow Corporation and its operating companies (“Yellow”) filed for bankruptcy in the District of Delaware Bankruptcy Court on August 6, 2023.

General Membership Union Meeting Saturday, December 7th at 9:30am

Next General Membership Union Meeting Saturday, December 7th at 9:30a There is a General Membership Meeting scheduled for tomorrow, Saturday, December 7th at 9:30am, which will be held in the Teamsters Union Hall (downstairs) at 4269 Balloon Park Rd. NE, Albuquerque, NM 87109.

Teamsters Organize 50,000 New Members in Less Than Three Years

Record Number of Workers Join North America’s Strongest, Most Militant Labor Union   The International Brotherhood of Teamsters announced today the union has grown by an astounding 50,000 new members in the last two-and-a-half years, a direct result of key investments in strategic organizing under Teamsters General President Sean M.

Teamsters: No Endorsement For U.S. President

Teamsters: No Endorsement For U.S. President International Union Cites Strong Political Divides, Few Commitments from Candidates The General Executive Board of the International Brotherhood of Teamsters on Wednesday elected not to endorse any candidate for U.S. President.

New Mexico Teamsters Win at NMTDC 2024

New Mexico Teamsters Win at NMTDC 2024 On May 18, 2024, New Mexico Teamsters converged from all over the state to compete in the New Mexico Truck Driving Championship. Held at the Isleta Casino, the decades-old event encourages dedicated drivers, spread among 9 divisions, to test their skills among 98 fellow competitors for the title of State Champion in their division.

Teamsters Local 492 Wins Historic Grievance Against Sysco for Members

4/16/2024- It is with great pleasure that I can report to all our members, that Teamsters Local 492 has won a hard-fought grievance for our Sysco brothers and sisters! On April 03, 2020, a grievance was filed to enforce the forty-hour language in our contract.  This grievance was filed during the Walter Maestas administration, in the early stages of Covid-19.

Teamsters 492 Organizing Victory in NM at Southern Glazer’s Wine & Spirits

On behalf of Teamsters Local 492, I would personally like to congratulate all of the workers at Southern Glazer’s Wine & Spirits in this Local's jurisdiction, which includes warehouse workers, loaders, drivers as well as hostlers/yard jockeys.


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Teamsters Local 492
4269 Balloon Park Road NE
Albuquerque, New Mexico 87109
  505-344-1925

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