Teamsters Central States, Southeast & Southwest

Teamsters Central States, Southeast & Southwest

The Teamsters Central States, Southeast & Southwest pension fund was established in 1955 by the International Brotherhood of Teamsters (IBT). It provides retirement benefits to union members across the central US, with Thomas C. Nyhan serving as Executive Director and General Counsel. The fund's trustees include both union representatives like Charles A. Whobrey and employer representatives such as Gary F. Caldwell. The fund's investment strategy focuses on preservation of capital to meet multi-decade benefit obligations. Its portfolio is concentrated in fixed-income securities and infrastructure assets, with a Special Financial Assistance (SFA) grant from the PBGC of roughly $36 billion redirecting its posture toward lower-risk allocations. The fund does not engage in direct equity ownership or venture capital; its mandate prohibits high-risk asset classes. Total plan assets are not publicly disclosed, but the 2023 SFA grant alone made it one of the largest multiemployer recipients under the American Rescue Plan. The fund maintains an office in Rosemont, IL, and participates in the National Coordinating Committee for Multiemployer Plans (NCCMP) for advocacy. March 2023: PBGC approved $36 billion in Special Financial Assistance to prevent the fund from becoming insolvent. The fund's structure as a collectively bargained multiemployer plan distinguishes it from single-family offices or corporate pensions. It operates under a joint labor-management board and is backed by the PBGC's federal safety net, though financial viability long term depends on continued employer contributions and investment discipline.