The Health and Welfare Fund was established in 1951 and the Pension Fund in 1957. The two Funds have approximately 35 employees, who administer benefits for tens of thousands of Teamster members, dependents and retirees in several states, primarily, Pennsylvania, New Jersey and Delaware.
The Health and Welfare Fund provides benefits for approximately 19,000 employees and dependents. In 2012, the Health and Welfare Fund paid more than $98 million in benefits. As of December 31, 2012, the Fund’s net assets available for benefits exceeded $76.3 million.
The Pension Fund ranks as one of the top 600 Pension Funds in the United States, with more than 8,200 active participants and benefit payments to more than 31,500 retirees and surviving spouses each month. Benefit payments in 2012 exceeded $168 million. The Fund’s assets as of December 31, 2012 totaled approximately $1.367 billion.