Employment Verification for New England Teamsters Pension.

The New England Teamsters Pension is a multi-employer pension plan that provides retirement benefits to eligible participants in the New England region of the United States. The plan is jointly administered by a board of trustees composed of an equal number of employer and union representatives, as well as an independent trustee appointed by the U.S. Department of Labor. The plan covers approximately 72,000 participants and beneficiaries and has assets of over $4 billion as of 2021. The plan was established in 1960 as a result of collective bargaining negotiations between Teamster locals and employers in the trucking and warehousing industries. Since then, the plan has expanded to cover other industries such as construction, healthcare, and law enforcement. Participants accrue pension benefits based on their contributions to the plan and their years of service. The New England Teamsters Pension has faced financial challenges in recent years, due in part to declining participation in several of the plan's contributing employers. As a result, the plan has implemented benefit reductions for some participants and has also explored potential strategies for improving its financial sustainability, such as increasing employer contributions or exploring potential investment opportunities. Despite these challenges, the plan remains a vital source of retirement security for thousands of workers in the region.