To The New England Teamsters Pension Fund Website
Message from the Board of Trustees:
The Multiemployer Pension Reform Act of 2014 was recently signed into law.
This law will have a significant impact on many multiemployer pension funds. It
is not possible to determine what impact, if any, the law will have on the New
England Teamsters & Trucking Industry Pension Fund until all of the regulations
are reviewed by our staff, attorneys and actuaries.
As you may be aware, on September 25, 2015 the
Central States Pension Fund submitted a proposed “rescue plan” to
the U.S. Department of the Treasury (“Treasury”) under the
Multiemployer Pension Reform Act of 2014 (MPRA), which includes
severe benefit reductions for many of the active and retired Central
States participants. The Central States proposal is the first
step in a long and detailed process including required Treasury
Department approval and ratification by the Central States
participants in a secret ballot vote before any of the proposed cuts
can be implemented.
We, as well as many other multi-employer Funds,
will continue to monitor this issue. In the meantime, please
be assured that the Trustees of the New England Teamsters & Trucking
Industry Pension Fund have not taken any action to suspend your
accrued benefits or the pensions now in effect for our retirees.
As always, we will advise you of any new
developments if they should occur.
Our Goal - To provide a decent and
secure monthly pension to all vested participants for all of their
The New England Teamsters Pension Fund was established in 1958 to
provide retirement income to eligible participants and their
beneficiaries. The Fund is jointly administered by an eight-member
Board of Trustees – four Trustees representing the Local Unions and
four Trustees representing the Contributing Employers. All claims
are processed at the Fund Office, which is located in Burlington,
MA, under the direction of the Executive Director, Edward Groden and
the Fund Manager, Charles Langone. The Fund is qualified under IRC
Section 401(a) and acts as a multi- employer, defined benefit plan
within the meaning of IRC Sections 414(f) and (j).
Over 13,585 participants have successfully logged
on to the Fund’s Member Login section of the website to view their
hours of service and years of pension credit.
If you are an active participant,
not on Pension you may view Hours Posted and other personal
information as well as change your mailing address, by selecting the
Member Login Button.
If you have a vested right to a pension and have
been participating in the Plan since 1991, you may have the ability
to access the online calculation program to see an estimate of your
future benefit amount based on your up-to-date pension credit. If
you have logged in to the Fund’s website and do not see the
calculation button, send the Fund Office an e-mail via the Contact
Us button and request access to the online calculation program.
If you are a Pensioner and have
begun collecting your monthly pension, you may view current and past
pension payments as well as change your tax withholdings and mailing
address by selecting the Retiree Login Button.
Anyone who accesses the Fund’s website may view
specific benefit information such as Early Retirement reduction
factors, Contributory Credit tables and Benefit schedules by
clicking on the word Tables on our homepage. General information
about the Plan may also be obtained by clicking on the words Plan