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I.B.E.W. Local 353 Pension Plan
The I.B.E.W. Local 353 Pension Plan was established to deliver retirement benefits to members of the International Brotherhood of Electrical Workers Local 353.
I.B.E.W. Local 353 Pension Plan
The I.B.E.W. Local 353 Pension Plan was established to deliver retirement benefits to members of the International Brotherhood of Electrical Workers Local 353. It operates as a target benefit plan under the oversight of a board that includes four trustees appointed by the union and four appointed by employer representatives. The plan holds a diversified portfolio that includes a real estate allocation valued at approximately $250 million, a private debt portfolio of approximately $218 million, infrastructure investments of approximately $105 million and a mortgage book of approximately $93 million. Geographic exposure centers on Ontario with additional holdings in other Canadian provinces. Two public equity positions appear in securities litigation records as lead plaintiff actions against Eargo and FibroGen. Administration is handled by TEIBAS, with investment custody provided by CIBC Mellon and actuarial services from Eckler Ltd. The plan also maintains the separate I.B.E.W. Local 353 Supplemental Unemployment Benefit Plan to support members during periods of unemployment. Trustee appointments are divided equally between the union and the contractor association, creating a formal governance split that requires consensus on major decisions.
General information
Firm type
Pension Fund
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
1377 Lawrence Ave. East, Toronto, Ontario, Canada
Principals
Lee Caprio
Chair of the Board of Trustees
Sector focus
Frequently asked questions
Who appoints trustees to the I.B.E.W. Local 353 Pension Plan board?
Four trustees are appointed by I.B.E.W. Local 353 and four by the Greater Toronto Electrical Contractors Association.
How is the plan administered?
Day-to-day administration is performed by TEIBAS under a contract that has been in place since 1990.
What asset classes appear in the plan's holdings?
Holdings include real estate, private debt, infrastructure and mortgages, with smaller public equity positions noted in litigation filings.
Does the plan maintain any related benefit vehicles?
Yes. It sponsors the I.B.E.W. Local 353 Supplemental Unemployment Benefit Plan that provides weekly payments to eligible out-of-work members.
Where does the plan custody its assets?
CIBC Mellon has served as custodian since 2009.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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