I am a new teamster. Still lots of questions. If central states pension goes belly up like it is predicted to do, will this affect our health and welfare. Is the pension tied in with our heathcare. This is a very informative site and I know someone could answer this. Thank you
Welcome, Brother! You are part of the 10% of the private sector that gets to retain their First Amendment rights even after you've punched the timeclock...........
Bro. Muler is correct for Central States .......Other Joint Council areas don't offer TeamCare beyond retirement,...so there is a clearer "firewall" between pension and H & W benefits.
In practice, for active employees in all Funds,........the Health and Welfare benefits are separate from each other........Do not forget that the Affordable Care Act requires employers to maintain Health Care benefits,......so it is in the employer's best interests to support those H & W funds......
If you are concerned about the stability of your Health care plan,........you have every right under ERISA law to request a "Form 5500" from your Health care plan provider. Usually, employees ask pension plans for "Form 5500",...but it is a little-known fact that you can make the same request to a health care provider.
A "Form 5500" is the long form of a Summary Annual Report that every pension plan ,AND health care plan,....must provide their employees. Essentially, it is the Plan's Income Tax filing,...which, as a Participant,....you have every right to request. They must list every expense, including salaries of office staff,...investments,....and real estate holdings. You may have to pay an actuary to....decipher...some of the legalese,........but, basically,.....you can get a very clear view of the Health Care Plan's long-term projected survival.
The Local Union can give you a contact number for the Attorneys all Local Unions have on retainer,.....and that Attorney can explain exactly how to file a "Form 5500".....It's actually easy,......I did it for years with the Joint Council #40 Pension Fund,.......The rank-and-file there had an ad hoc Pension Improvement Committee for years.
Once you get it,....make sure you share the information with your Brothers in your Local at a monthly meeting,.......for good or ill.....Information Is Power, Brother!
Many MEPFs are in poor financial standing,.......but in the same Supplemental/Joint Council area,.........the H & W is doing extremely well.