The Board of Trustees for the Western Conference of Teamsters Pension Trust (WCTPT), including Local 162 Secretary-Treasurer Mark Davison, met on Monday, September 28th, for a special call Board of Trustees meeting. During the meeting, Trustees voted to extend the 33% bonus accrual for another year. All covered work performed in 2027 will earn an accrual rate of 1.6% of contributions rather than the standard accrual of 1.2%. This will mark the eighth consecutive year that a bonus has been credited, evidencing the underlying financial soundness of the WCTPT and its recent excellent investment performance. An Active Participant who has worked in covered employment from 2020 through 2027 will have earned total bonuses equating to over two years of additional pension earnings at the standard accrual rate.

Read more about the actions taken by the Trustees in the attached letter.