# Hagerstown Motor Carriers and Teamsters Pension Plan

Hagerstown Motor Carriers and Teamsters Pension Plan is a Pension Fund based in Hagerstown, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Hagerstown, United States
- **Region:** North America
- **Address:** Hagerstown, MD, United States
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

The Hagerstown Motor Carriers and Teamsters Pension Plan is a multiemployer defined-benefit plan jointly governed by a Board of Trustees drawn from union and contributing employer representatives. It provides retirement benefits to eligible participants and their dependents, covering members of Teamsters Local 992 in the Hagerstown, Maryland region. The plan has operated under critical and endangered status designations under the Pension Protection Act since at least 2010, triggering mandatory rehabilitation plans filed with the U.S. Department of Labor. The plan's asset mix reflects both its distressed status and the constraints imposed by its rehabilitation plan. Known holdings include a commitment to Oaktree Real Estate Opportunities Fund VIII, which targets distressed and opportunistic property investments across the United States and Europe. Additionally, the plan holds deferred pension payment obligations from Yellow Corp (formerly YRC Worldwide), the long-troubled less-than-truckload carrier that filed for Chapter 11 protection in August 2023 and ceased operations. These claims, representing unpaid employer contributions, place the plan in the queue of unsecured creditors in the Yellow Corp bankruptcy proceedings in the District of Delaware. The plan is administered and serviced through an office shared with other regional benefit plans at ourbenefitoffice.com. Public filings show oversight by Trustees including Chairman Tom W. Krause, Secretary Tom Ventura, and employer representative Robert Cowie. The Fund participates in industry advocacy through its affiliation with the International Brotherhood of Teamsters, which represents over one million transportation and logistics workers across North America. In May 2024, Yellow Corp's bankruptcy estate reached a tentative settlement with multiple Teamsters pension funds, including potentially this Hagerstown plan, over withdrawal liability claims, though specific recovery amounts remain subject to court approval (per court filings, 2024). The plan's structural distinctiveness lies entirely in its status as a distressed multiemployer fund operating under a statutory rehabilitation framework. Unlike healthy single-employer plans that can rebalance into diversified growth portfolios, this plan's investment and contribution strategies are constrained by federal law and ongoing negotiations with distressed contributing employers. Its primary credit exposure is not to commercial borrowers or asset-backed securities but to a bankrupt trucking company whose estate resolution will determine a material portion of the plan's near-term recovery.

## People

- Tom W. Krause — Chairman of the Board of Trustees and Plan Administrator
- Tom Ventura — Secretary of the Board of Trustees
- Robert Cowie — Plan Sponsor representative

## Questions

### Who oversees the Hagerstown Motor Carriers and Teamsters Pension Plan?

The plan is governed by a Board of Trustees with equal representation from the Teamsters union and contributing employers. Tom W. Krause serves as Chairman and Plan Administrator, Tom Ventura as Secretary, and Robert Cowie represents employer interests on the board (per public filings).

### Does the plan invest in alternative assets beyond traditional fixed income and equities?

Yes — known commitments include Oaktree Real Estate Opportunities Fund VIII, a distressed and opportunistic real estate vehicle. The rehabilitation plan framework permits such allocations when they serve the objective of restoring long-term funding ratios, though overall asset-class flexibility remains subject to fiduciary and regulatory constraints.

### Who are the contributing employers and union participants?

The plan covers eligible members of Teamsters Local 992, a union affiliate based in Hagerstown, Maryland. Historically, contributing employers included motor freight carriers and related logistics companies, with Yellow Corp (formerly YRC Worldwide) being a significant contributor prior to its cessation of operations and bankruptcy filing.

## Related profiles

- [Hager Investment Management Services](https://altss.com/profile/hager-investment-management-services)
- [Haggerty Investment Group](https://altss.com/profile/haggerty-investment-group)

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Last updated: 2026-08-10T19:36:47.593Z

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