Teamsters Local 142 Successfully Bargained Its First Annuity Fund
Teamsters Local 142 Executive Board is pleased to announce its start up of the Local's very first Annuity Fund. The Annuity Fund is governed by ERISA and has a equal number of Labor and Employer Trustees. Secretary-Treasurer Richard Knipp is the chairman and Mitch Sawochka and Ted Bilski are also Labor Trustees on the Fund. The Employer Trustees are Gary Kebert, Ames Martin and Steve Michaels. Unlike Local 142's Pension Fund which is a defined benefit plan the Annuity Fund is a defined contribution plan. Participants of the Annuity Fund can either self direct their investments individually or elect to use the default schedule which is based on each participant's age.
Page Last Updated: Oct 22, 2013 (11:50:44)