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Sheet Metal Worker's Local 33
The Toledo Area Sheet Metal Workers Pension Plan and Trust was established in 1963 as a multiemployer defined-benefit plan. The plan covers union sheet metal...
Sheet Metal Worker's Local 33
The Toledo Area Sheet Metal Workers Pension Plan and Trust was established in 1963 as a multiemployer defined-benefit plan. The plan covers union sheet metal workers across a swath of Ohio and West Virginia and is administered by the third-party firm BeneSys. Unlike a single-family office, the plan pools contributions from multiple signatory contractors organized through the Sheet Metal and Air Conditioning Contractors' National Association (SMACNA). The pension fund deploys capital across a blend of private-market strategies, including buyout, hybrid vehicles, secondaries, and special situations. Its real-asset footprint is concentrated in training infrastructure rather than third-party funds: the plan's sponsoring union, Sheet Metal Workers' Local 33, owns and operates Joint Apprenticeship Training Centers (JATCs) in Rossford, Youngstown, Massillon, and Martins Ferry, along with district offices in Parma and Charleston. These properties serve the union's skills pipeline, which partners with the Ohio Board of Regents on associate-degree programs. Plan assets are managed from Troy, Michigan, though the sponsoring union hall and training centers radiate from northern Ohio into West Virginia. The plan maintains ties to building-trades coalitions including ACT Ohio (Affiliated Construction Trades of Ohio). Community partnership activity includes a corporate relationship with United Way of Greater Toledo. With an estimated $43 million in assets, the plan operates at a scale typical of local multiemployer pension funds — large enough for a diversified alternatives allocation but well below the threshold where in-house investment staff is economical. Structurally, the plan illustrates the multiemployer model: employer contributions are negotiated collectively via SMACNA, benefits are administered by a professional third party, and asset management is outsourced to external managers. This separates fiduciary oversight from union operations and contractor bargaining — a governance architecture that distinguishes multiemployer plans from single-employer corporate pensions. The plan is subject to ERISA regulation and the provisions of the Multiemployer Pension Reform Act.
General information
Firm type
Pension Fund
Year founded
1963
Location
Region
North America
Country
United States
City
Troy
Corporate office
Troy, MI, United States
Additional offices
Parma, OH · Rossford, OH · Youngstown, OH · Massillon, OH · Martins Ferry, OH · Charleston, WV
Sector focus
Frequently asked questions
Who administers the Sheet Metal Workers Local 33 Pension Plan?
The plan is administered by BeneSys, a third-party firm that provides administrative and actuarial services to multiemployer plans. Investment management is outsourced to external managers rather than handled by an in-house team. Oversight falls to a board of trustees with equal representation from the union and contributing employers per the Taft-Hartley framework.
What is a multiemployer pension plan, and how is it different from a single-employer plan?
A multiemployer plan pools contributions from multiple unrelated employers under a collective bargaining agreement — in this case, sheet metal contractors who sign agreements with SMACNA and the Sheet Metal Workers' union. Workers accrue benefits that follow them across participating employers. The model differs from single-employer plans by spreading funding risk across a broader contribution base, though it also introduces withdrawal liability for employers who exit the plan.
What investment strategies does the plan pursue?
The plan allocates to a mix of private-market strategies including buyout funds, hybrid vehicles, secondaries, and special-situations mandates. This suggests a portfolio designed for return-seeking diversification within an illiquidity budget appropriate for an ongoing defined-benefit pool. Specific manager relationships are not publicly disclosed.
Does the pension fund own the union's training centers?
No. The Joint Apprenticeship Training Centers in Rossford, Youngstown, Massillon, and Martins Ferry are owned and operated by Sheet Metal Workers' Local 33 — the union — not the pension plan. These are separate legal entities. The pension plan may invest in real estate or infrastructure funds, but the union's training real estate sits outside the plan's asset base.
How is the plan funded?
Contributions come from signatory sheet metal contractors at negotiated hourly rates set through collective bargaining between Local 33 and SMACNA. The plan's funded status — whether it is in the 'green,' 'yellow,' or 'red' zone under the Multiemployer Pension Reform Act — is not publicly available without a Form 5500 filing review.
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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