What is the average Teamster pension?
$5,500 (approximately) for 30 and out at any age. $3,100 for 25-and-out at any age. $3,600 for 25-at-55, or 30-and-out at any age. $3,700 for 25-at-55.
Can I cash out my Teamsters pension?
If you have a defined contribution pension, when you turn 55 you can take as much as you like from your pension. You can cash the whole lot in, or take regular income or ad hoc lump sums. The first 25% of your pension can be taken tax free.
Is the Central States Pension Fund in trouble?
It is spending over $2 billion a year more than it is taking in on benefits. Like other troubled funds, the Central States fund has been plagued with a variety of problems that date back years. More recently, it has been hurt by a drop in the number of active workers participating in the fund.