Teamsters Local 525
Teamsters Local 525
 

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  • Serving Calhoun, Greene, Jersey, Macoupin, Madison & Montgomery Counties

    We are One Illinois is conduting an informational webinar on Tuesday, July 16th at 6:00pm. Below, you find webinar registration and details.

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    We all know that fixing Tier 2 pensions won’t happen overnight. This is a problem that has been growing for years. But we also know that it is critically important for all of us to understand the causes and consequences of the broken Tier 2 system as we fight for changes.

    That’s why we are holding an informational webinar for union members to better understand the recent history of Illinois public employee pensions, the key differences between Tier 1 and Tier 2, and the path to fixing the broken Tier 2 system. This webinar is open to active or retired union members on Tier 1 or Tier 2 pension plans.

    Please join us on July 16 at 6 p.m. for our We Are One Illinois Tier 2 webinar. Click here to register now.

    We plan to hold additional webinars in the future, and to have additional details to share soon about our advocacy efforts this fall.

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    New Annual Member Pension Statements

    May 2024

    Dear Local Union partners:

    As mentioned in our last Focus on Your Funds newsletter, the Pension Fund is in the process of sending out a new annual Pension Statement to all active members who had credit in 2023.  Since many members may not be knowledgeable of the value of their Central States benefit, all active members will be sent a statement showing their current benefit and how much their pension will grow over time.

    Each statement is individualized and based on contributions through 12/31/2023.  The statement includes the member’s years of Contributory Credit, estimated benefit at retirement age, amount of employer’s contributions, and projection of how their benefit can grow over time.

    Please find attached a PDF copy that includes the three different Pension Statement templates:

    • Vested Member Template
    • Non-Vested Member Template
    • Vested Estimated Benefit Template

    We encourage members to visit the Benefit Estimator at MyCentralStatesPension.org to estimate their benefit at various retirement ages.

    In closing, we appreciate and value your feedback. If you have comments or suggestions on how to improve the Pension Statements for the future, please let us know.

    Thank you,

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    Thomas C. Nyhan

    Executive Director


    Thank you for viewing our website .....it is a way to help inform & serve the hard working men & women of Southwestern Illinois.

                                  Sincerely, 

                                TEAMSTERS 525

     

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