# Teamsters Local 355 Teamsters Local 355 is a Pension Fund based in Baltimore, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Baltimore, United States - **Region:** North America - **Address:** 1030 S. Dukeland Street, Baltimore, MD 21223, United States - **Assets under management:** Undisclosed - **Website:** teamsters355.com ## Regulatory record - **Reports private funds:** No ## About Teamsters Local 355 operates as a defined-benefit pension fund serving truck drivers, helpers, and warehouse workers in Baltimore and the surrounding Mid-Atlantic region. Its beneficiaries are drawn from bargaining units at UPS, freight carriers, and local logistics employers, making the fund's contribution base highly concentrated in the surface transportation sector. The fund is governed by a board of trustees split between union and employer representatives, a structure standard across Taft-Hartley plans, with President Mark Garey and Secretary-Treasurer Mike Petro serving as senior union-side officers. The fund allocates assets across a conventional institutional mix: public equities, fixed income, real estate, and private market strategies, though specific portfolio holdings are not publicly broken out. Real property owned by the local includes its headquarters at 1030 S. Dukeland Street in Baltimore and a meeting hall in Salisbury, Maryland, which function as operational hubs for membership and may represent directly held real estate on the fund's balance sheet. A related entity, Teamsters Local 355 Federal Credit Union, provides deposit and lending services to members, operating from the same Baltimore address but legally distinct from the pension vehicle. Total assets under management and precise participant counts are not publicly disclosed. Teamster pension funds vary widely in scale; the local's fortunes are structurally linked to the health of UPS, the largest employer in the Teamsters' master freight agreement. The International Brotherhood of Teamsters and regional Joint Council 62 provide governance support and are the local's primary institutional affiliates. The fund also connects to the broader Teamster community through scholarships, including the James R. Hoffa Memorial Scholarship Fund. Its structural differentiator lies in its non-discretionary liability stream: the fund's payout profile is determined by negotiated benefit accrual rates, not market return assumptions alone. This makes asset-liability matching and employer contribution stability the dominant risk factors — more so than for an endowment or family office — tying its long-term solvency to the bargaining cycle and the health of unionized freight in the Baltimore corridor. ## Offices - Salisbury, MD, United States ## People - Mark Garey — President - Mike Petro — Secretary-Treasurer ## Questions ### How is Teamsters Local 355 structured as a pension fund? It is a Taft-Hartley multiemployer defined-benefit plan, jointly sponsored by Local 355 and the employers who contribute on behalf of covered workers. Multiple employers pay into a single trust, which pools assets for investment. This structure concentrates the fund's risk in the financial health of the contributing employers and the terms of the collective bargaining agreement. ### What is the relationship between Teamsters Local 355 and UPS? UPS is the most significant contributing employer to the fund, as it is the dominant employer of truck drivers and package handlers represented by the local. Contribution rates and benefit levels tied to UPS contracts materially influence the fund's cash flows. The fund's health is therefore correlated with UPS's operational performance and labor relations posture in the region. ### Does Teamsters Local 355 invest directly in real estate? The local holds direct interest in commercial property, including its Baltimore headquarters at 1030 S. Dukeland Street and a Salisbury meeting hall. Whether these are held inside the pension trust or by a separate union entity is not publicly distinguished. A related federal credit union operates separately from the pension fund. ## Related profiles - [Teamsters Drivers Milwaukee Local 344](https://altss.com/profile/teamsters-drivers-milwaukee-local-344) - [Temple University Post-Retirement Benefits Trust](https://altss.com/profile/temple-university-post-retirement-benefits-trust) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/teamsters-local-355-truck-drivers-helpers Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology