Plumbers Local #98

Plumbers Local #98

Plumbers Local #98 operates the defined benefit pension plan for its members. Carlo Castiglione serves as business manager and trustee. The plan was established to provide retirement benefits to plumbers and pipefitters in the Detroit area. The fund allocates across fixed income instruments at 27.8 percent, high-yield debt at 2 percent, real estate investment funds at 8.1 percent ownership, and a 4 percent stake in a private equity portfolio. It also holds natural resources exposure globally. Investments occur through the Plumbers Local 98 Defined Benefit Pension Fund as limited partner positions. Geographic focus remains the United States with secondary exposure outside North America. The organization maintains 58 million dollars in related benefit assets including the Insurance Fund and Sub Trust Fund. It operates the Union Hall in Madison Heights and the Plumbing Industry Training Center in Troy. Carlo Castiglione has directed recent sponsorship of the MiCareerQuest Southeast event in May 2024. Adjacent vehicles include the Plumbers Local 98 Scholarship Fund, which awarded five $2,000 grants in 2025. Governance ties the investment mandate directly to the union's collective bargaining agreements and joint administration with the Mechanical Contractors Association of Detroit.