Teamsters Local Union No. 155 Pension Plan
The Teamsters Local Union No. 155 Pension Plan has been established effective January 1, 2004 to provide retirement pensions to eligible members working in the bargaining unit of Teamsters Local Union No. 155. It is funded under the terms of collective agreements negotiated between Teamsters Local Union No. 155 as part of the BC Council of Film Unions, and motion picture and television production companies, represented by the Alliance of Motion Picture & TV Producers.
BOARD OF TRUSTEES
The Teamsters Local Union No. 155 Pension Plan is governed by seven Trustees
appointed by the Union in accordance with its bylaws. The Trustees decide
what the benefits
of the plan will be and under what terms the benefits will be paid, consistent
with applicable legislation and the terms of the collective agreement which
apply to the plan. They appoint an investment manager to invest the fund
and an actuary to value the liabilities and assets of the Plan at least
every three years.
The Secretary-Treasurer of Local Union No. 155 is a Trustee by virtue of his office, and serves as a link between the Trust and the Union. The other six Trustees are appointed by the Union after membership elections. The Trustees are:
- Lorrie Ward, Chairman (as principal officer)
- Red Murphy
- Shawn Henter
- Dave Holm
- Trent Thomas
The plan includes Current Service pension accrual based on
- a percentage of the contributions your employer(s) make to the plan for hours worked under the collective agreement, plus
- a percentage of the contributions you self-pay to top up your pension for a year in which you earn at least 350 hours but less than the "Year's Maximum Hours". Member Contributions must be made no later than January 31 of the following year. For instance, to top up your pension plan for 2004, your contribution must be received in the Plan office by January 31, 2004.
In order that you might ultimately receive benefits under the plan you must file an application for enrolment with the Trustees. In the absence of the application, the Trustees will be unable to pay any benefits to you or on your behalf with respect to contributions received by the plan on your behalf. Ask the Plan Office or your Union for information about how to enroll.
The Trustees have hired Pacific Blue Cross* to administer the Plan on their behalf. Every month, participating employers contribute to a trust fund on behalf of their eligible employees. The Trustees hold and invest the fund, which is used to pay for benefit coverage and for operating expenses.
The information on this web site is an outline of the benefits provided by the Teamsters Local Union No. 155 Pension Plan and is not a contract. This Plan only covers those benefits listed above and is subject to the terms of the Plan Text and the Plan Booklet. For further information about the Plan, contact the Plan Office or Local Union No. 155.