By profession · Truck driver
Retirement planning for truck drivers
A profession-specific look at the retirement levers a truck driver actually has — pension rules, tax-advantaged accounts, and the Social Security wrinkles unique to your job.
Last reviewed May 4, 2026
Editorial review pending — see editorial process
The retirement landscape for a truck driver
Pension
Union drivers (Teamsters) often have a Central States or local pension. Non-union company drivers and owner-operators typically don't.
Tax-advantaged accounts
Company drivers usually have access to a 401(k) with some employer match. Owner-operators should set up a Solo 401(k) — the contribution limits are far higher than an IRA.
Social Security
Company drivers pay normal payroll taxes. Owner-operators pay both halves on net self-employment earnings.
Run the calculator with a typical truck driver starting point
Pre-filled: age 47, savings $75,000. Adjust to your actual numbers from there.
Run my numbers →Frequently asked
How much should an owner-operator save for retirement?
Aim to save 15-20% of net earnings (after fuel, maintenance, insurance, depreciation). The volatility of trucking income means building a 6-month expense buffer before maxing retirement accounts.
I'm in the Central States Pension Fund. What's the situation?
The Central States Pension Fund received federal SFA money in 2023 to remain solvent through 2051. Verify your projected benefit annually at the plan's website. Don't double-count the pension as savings.
Can I retire at 62?
Many drivers do — but the bridge from 62 to Medicare at 65 is the biggest planning challenge. Consider continuing local hauls part-time or opting for ACA marketplace coverage during the gap.
Primary sources
Every profession-specific rule above traces to one of these primary sources. We re-verify each link annually; current as of the last-reviewed date below.
Related reading
Single truck driver at 45 with $250,000 →
Same demographic anchor as the typical truck driver.
Couple in truck driver bracket at 45 with $250,000 →
Same demographic anchor as the typical truck driver.
How the Monte Carlo actually works →
The methodology page covers the historical bootstrap, the data sources, and the limitations we’re honest about.