Membership
How being a member of Teamsters Local 995 is good for you and your family:
07/13/2007 - 04. Pensions
Employers boast of their 401(k) plans. The fact is, if you don't put any money into it, you get nothing out of it. The truth is that most working people don’t put money away for a rainy day voluntarily. Under the Union’s defined pension plan, the employer contributes a minimum of $1.02 up to $3.40 per hour depending on your place of em-ployment for each compensable hour to the Western Conference of Teamsters Pension Plan on your behalf. You will, upon retirement, receive a pension check for the rest of your life even if you live to be 120 years of age. That represents peace of mind and that contribution is guaranteed by your labor agreement. The employer cost per covered em-ployee ranges between $2,121.60 and up to $7,072.00 per year based on forty-hour workweeks. The more money going into the pension plan on your behalf, the more you will receive when you retire.