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Pension Calculator. The amounts shown above are subject to research and verification upon the filing and approval of a Pension Application.
- Pension Benefits
The Teamsters Pension Trust Fund was formed to provide...
- Pension Calculator Explanation
Pension Calculator Explanation - Teamsters. Listed below is...
- Pension Benefits
The Teamsters Pension Trust Fund was formed to provide participating employees and employers with an affordable, comprehensive and efficient retirement program. This program is meant to be an important supplement to your Social Security and other sources of retirement income.
Pension Calculator Explanation - Teamsters. Listed below is a brief explanation of the Benefit options available to you: Single Life Pension with a Sixty Month Guarantee. You receive monthly payments for your lifetime, with a guarantee of 60 monthly payments.
This section explains how your retirement benefit is calculated if you decide to retire at age 65—the Plan’s normal retirement age—or later. If you retire later than age 65, your benefit is higher.
As Table 8 shows, the PEER programs let you retire early with unreduced benefits at any age after you are eligible. If you have recent coverage, you can retire early with unreduced benefits at age 62 or later. All four types of early retirement benefits are explained below.
Your five-year average benefit is determined in four steps: Step 1— Determine your total past and future service credits (up to 33 1/3 total credits). Step 2— Calculate your five-year average rate. Step 3— Use your five-year average rate to determine your benefit factor.
NORMAL RETIREMENT PENSION Upon retirement from the industry at or after age 65, on or after January 1, 2018, an active participant becomes eligible for a normal retirement pension, calculated by multiplying the amount of the Participant’s Contributions during his or her years of participation in the Fund by 1.75%.
