U.A. Plumbers 63 & Steamfitters 353 Joint Pension

U.A. Plumbers 63 & Steamfitters 353 Joint Pension

The U.A. Plumbers 63 & Steamfitters 353 Joint Pension Fund was established in 1979 to provide retirement security to members of two United Association local unions serving the Peoria, Illinois, region. Plumbers Local 63 and Steamfitters Local 353 jointly sponsor the plan, pooling employer contributions negotiated through their collective bargaining agreements. The fund's governance rests with a board of trustees drawn equally from union and employer representatives, a hallmark of the Taft-Hartley multiemployer plan structure that distributes fiduciary responsibility across both sides of the negotiating table. The pension deploys capital across a diversified institutional portfolio typical of mid-sized building-trades plans. The fund constructs its return stream through allocations to domestic and international equities, fixed income, and a growing commitment to private markets. Real estate and infrastructure investments appear as natural fits given the members' own expertise in the built environment. Private credit allocations serve as a yield enhancer within the fixed-income sleeve, while secondary and special situations strategies offer the smoothing characteristics valued by liability-aware trustees. The geographic focus follows a national US footprint, though the plan's board has historically demonstrated comfort evaluating fund commitments from managers based in major institutional hubs including Chicago, New York, and beyond. Total plan assets remain undisclosed. Public filings and industry databases tracking the building trades put the fund's asset base below $1 billion, positioning it within the large-but-not-jumbo tier of Midwestern Taft-Hartley plans. The fund maintains administrative offices in East Peoria, Illinois, where the sponsoring locals are headquartered, and holds investment assets through a custodial structure based in Indianapolis, Indiana. Related union entities include the Plumbers 63 Educational Trust Fund and Steamfitters 353 Educational Trust Fund, vehicles that operate separately from the pension plan to fund apprenticeship and journeyman training. What distinguishes the plan structurally is its dual-union sponsorship — a configuration that consolidates the retirement obligations of two distinct bargaining units under a single trust. The arrangement places a premium on trustee coordination, as investment decisions must balance the workforce demographics, contribution schedules, and funding ratios of both participating locals. For external allocators seeking a Midwestern Taft-Hartley mandate, the fund's board is the sole point of entry to the union construction workforce retirement capital across the Illinois River Valley.