Bulletin 8

March 1999

TO: Participating Employers

FROM: Office of the Administrative Manager

RE: Year 2000 Compliance

This is the latest in a series of Bulletins issued to assist Employers with their monthly reporting to the Trust and in understanding other aspects of Trust administration.

As the turn of the century draws near, dealing with Year 2000 computer problems has become a national priority. This is true as well for the Western Conference of Teamsters Pension Trust Fund. To assure accurate and uninterrupted operation next year and beyond, in 1993 the Trust embarked on a detailed project wherein all computer systems associated with its operation were analyzed to determine where adjustments would need to be made to satisfy Y2K requirements. That review was completed in 1996 and the resulting software modifications tested and released for use in August 1998. As a result, we are pleased to advise you that all computer systems governing operation of the Western Conference of Teamsters Pension Trust are now Y2K compliant.

On a related subject, the Administrative Offices have received numerous inquiries from contributing employers that report via a computer printout or magnetic media. To ensure that no problems arise in January 2000, we request that employers review the specifications of their reporting systems to ensure that all fields are still compatible with Trust requirements. Employers reporting via magnetic media are encouraged to contact the Administrative Office as soon as possible for a review of the data format that will be used next year. We welcome the opportunity to assist you in this effort.

With so much uncertainty remaining about the impact Y2K will have on the thousands of computer systems that govern business activities nationwide, we feel it important to advise our contributing employers that the Western Conference of Teamsters Pension Trust assumes that all employers will have undertaken necessary steps to bring critical systems into Year 2000 compliance. Therefore, while we are sympathetic with the size of the committed effort that must be made in this regard, Y2K computer problems will not be considered justification for late reporting of contributions to the Trust.

Your consideration of this information is appreciated, as are your inquiries regarding reporting to the Trust in Year 2000. We welcome your questions, which should be directed to the accounting supervisor in your Administrative Office.