900 Parish Street, Suite 101
Pittsburgh, PA 15220
Benefit Improvements - 9/30/1999
NOTICE TO ALL PARTICIPANTS IN THE
Please be advised that the Trustees of the Western Pennsylvania Teamsters and Employers Pension Fund ("Plan"), on September 10, 1999, approved certain benefit improvements for Participants in the Plan. Below is a summary of the benefit improvements.
Effective for Participants who retire on or after April 1, 1999, there will be no actuarial reduction for the Joint and 50% Survivor Benefit and the Ten Year Certain Benefit. The only actuarial reduction will be for the Joint and 100% Survivor Benefit.
Payment Of A One-Time Supplemental
The Plan will issue a one-time supplemental benefit payment for 1999 to all eligible retirees. The retirees eligible for this supplemental benefit payment are all retirees and beneficiaries (survivors) who were entitled to receive a pension benefit from the Plan as of January 1, 1999, and who were also living as of January 1, 1999.
The amount of the supplemental benefit payment will depend upon the amount of the monthly benefit received by the retiree. The supplemental benefit payment will be as follows:
The supplemental benefit payment will be paid by check issued on December 8, 1999. If the retiree's monthly pension benefit is being paid by direct deposit to a Bank, the supplemental benefit payment will also be paid by direct deposit on that date. This supplemental benefit payment is a one-time payment by the Plan to eligible retirees.
If you have any questions concerning the benefit improvements, please contact the Plan Office at the above address and telephone number.
TRUSTEES OF THE WESTERN PENNSYLVANIA