Pennsylvania Teamsters Pension Plan Gets Extra Funding Approval

The Pension Benefit Guaranty Corporation has approved the application for supplemental funding submitted by the Western Pennsylvania Teamsters and Employers Pension Plan, according to the agency Tuesday.

The Pittsburgh-based Western Pennsylvania Teamsters Plan, which covers 21,110 participants in the transportation industry, will receive about $279.6 million in supplemented special financial assistance, the PBGC said.

The plan was previously approved for $715 million in July 2022 under the interim final rule, the agency said.

The SFA Program was implemented under the American Rescue Plan Act of 2021 to provide funding to severely underfunded multiemployer pension plans. As of Tuesday, it’s ...