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Plan Overview

MIDWESTERN TEAMSTERS PENSION TRUST FUND

Defined Benefit Plan
MIDWESTERN TEAMSTERS PENSION TRUST FUND is a Defined Benefit Plan providing retirees with a predetermined monthly retirement benefit upon reaching a specific age. The retirement benefit paid to a retiree is typically calculated using a formula which often employs years of credited service under the plan and salary information. The retirement benefit is typically payable to the employee upon attainment of their normal retirement age for the remainder of his/her lifetime. Benefits under this type of plan are often referred to as accrued benefits. This type of plan does not maintain individual accounts for employees.

It is important to remember that under this type of plan, the Alternate Payee is typically not awarded a lump sum cash payment from the Plan. It is usually a requirement of the Plan that the amount awarded to the Alternate Payee be expressed in terms of a monthly benefit payable for either the lifetime of the Participant or the Alternate Payee.

Plan & Company Information:
CompanyBOARD OF TRUSTEES MIDWESTERN TEAMSTERS
2160 Foster Ave
Wheeling, IL 60090-6507
800-572-4289
Plan NameMIDWESTERN TEAMSTERS PENSION TRUST FUND
Plan Type Plan Type
Defined Benefit Plan
(Expanded Definition and Explanation)
Plan Administrator BOARD OF TRUSTEES MIDWESTERN TEAMSTERS
2160 Foster Ave
Wheeling, IL 60090-6507
800-572-4289
   
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