Pension plans are available through most job organizations in the United States. Teamster has pension plans available to any employees that want to make payments into them like every other company. According to the Western Conference of Teamsters, there are several options of retirement plans to consider for teamster employees.
There are multi-employer plans for teamster employees to consider, for those employees who work for more than one company. This can enable more money to be put away for retirement in several plans based on the plan descriptions. There are single employer plans that are designed specifically for the teamster employees working for only one employer. Teamsters has a 401k plan that is available to all employees should they choose it. Under the 401k programs Teamster places 13 percent of the employee's income up to 45 hours weekly into their plan. In addition to this, Teamster matches 100 percent of the pretax money saved by employees. There are also the defined contribution accounts, which follows very similar rules to the 401k plan. All these plans are available to all Teamster employees that are members and that decide to put money into a plan.Learn more about Financial Planning