Message from the Board of Trustees
The Central States Pension Fund is one of the nation’s largest multiemployer Taft-Hartley defined benefit pension plans. With nearly 400,000 participants, Central States Pension Fund is jointly administered by an eight-member Board of Trustees consisting of separate trustees representing interest of four Labor Employees Trustees and four Employer Trustees.
Established in 1955 to provide pension benefits to Teamsters in the trucking industry the plan has paid approximately $80 billion in benefits to date. Today, the Central States Pension Fund has more than approximately 1,000 contributing employers representing over 45,000 active participants in a variety of industries, including trucking, car haul, warehouse, construction, food processing, dairy and grocery trucking.
Like many of our nation’s multiemployer pension funds, the Central States Pension Fund has become severely underfunded and is in critical and declining status. Each day, the Central States Pension Fund pays out $5.7 million more in pension benefits than employer contributions received. The Fund pays out over $2.8 billion in pension benefits annually.
Without a legislative solution, the Central States Pension Fund will become insolvent and benefits will be severely reduced in 2025. The Central States Pension Fund, along with our active participants, retirees, employers, and local union partners continue a decade long effort to find a legislative solution. For more information and to see how you can help, visit voicesforpensionsecurity.com.
The Board of Trustees
|Employee/Union Trustees||Employer Trustees|
|Charles A. Whobrey
George J. Westley
Gary F. Caldwell
|Thomas C. Nyhan|