Central States Funds

Central States Funds

Labor union health benefits fund

Overview

Central States Funds (operating as TeamCare) administers health and welfare benefits for labor union members. It is a non-profit fund that covers about 500,000 members across 1,100 employers, making it the largest labor healthcare fund in the United States. The fund pools contributions from unions and employers to provide covered medical services and related benefits to participants and their families, managed through a benefits administration system and member services. Unlike many private plans, it emphasizes service, reliability, and a family-oriented approach, with a history dating back to 1950. The organization aims to provide quality, affordable healthcare and high-touch service to its participants, unions, and employers, while positively impacting members' quality of life through dedication and integrity.

About Central States Funds

Simplify's Rating
Why Central States Funds is rated
C+
Rated B on Competitive Edge
Rated C on Growth Potential
Rated C on Differentiation

Industries

Healthcare

Company Size

501-1,000

Company Stage

N/A

Total Funding

N/A

Headquarters

Chicago, Illinois

Founded

N/A

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Simplify's Take

What believers are saying

  • The plan moved from 14.5% funded to roughly 98% by 2026.
  • PBGC assistance now supports full earned benefits through 2051.
  • Online retirement-benefits applications launched on mycentralstatespension.org by August 6, 2026.

What critics are saying

  • Justice settled a $126.5 million excess-SFA repayment on April 8, 2024.
  • Event Media v. Central States in 2025 exposed unlawful withdrawal-liability calculations.
  • Persistent critical status through 2051 keeps employer surcharges and litigation pressure alive.

What makes Central States Funds unique

  • Central States Pension Fund received $35.8 billion SFA on January 12, 2023.
  • The 2026 funding level hit 98.1% on July 6, 2026.
  • It still serves 357,056 Teamsters participants across trucking, construction, and food processing.

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Benefits

Health Insurance

Dental Insurance

Vision Insurance

Health Savings Account/Flexible Spending Account

401(k) Company Match

Paid Vacation

Flexible Work Hours

Hybrid Work Options

Meal Benefits

Tuition Reimbursement

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