A Brief History of the ACAW Trust Funds

ACAW Pension Plan

The ACAW Pension Plan, a multi-employer Pension Plan, was established in 2004 as the result of a merger. A Northern Plan (Carpenters Local Union 1325 Pension Plan) and a Southern Plan (Carpentry Workers Pension Plan of Alberta) had been established separately in 1975 to provide members with pensions at retirement.

The following Unions have also recently joined the ACAW Pension Plan:

  • Effective January 1, 2016, members of Union Locals 1598, 527, 1370, and 1907

  • Effective August 1, 2016, members of Union Local 2499

  • Effective January 1, 2019, members of Union Local 1541

The ACAW Pension Plan is designed to provide retirement income to members.  It is funded through employer contributions outlined in Collective Agreements with participating employers.  These contributions are held in Trust and used to provide the benefits specified in the Plan.  The Plan is administered by a jointly Trusteed Board with equal representation from the Union and the participating employers.  Three Trustees are appointed by the Union, and three are appointed by the employers.  The Trustees have fiduciary responsibility for the general oversight of the Plan’s financial management and operations.  To support their duties, the Board engages professionals such as an Actuary, Legal Consultant, Auditor, Investment Managers, and an Executive Director.  These advisors assist in evaluating potential changes to the Plan, establishing investment and administrative procedures, and monitoring the Plan’s financial health.

There are approximately 9,300 active members, 10,500 deferred members and 5,000 retired members who currently receive a monthly pension from the Plan. There are approximately 70 employers who participate in the Plan.

ACAW Health & Wellness Plan

The ACAW Health & Wellness Plan provides life insurance and health care benefits to members and their eligible dependents.  Like the Pension Plan, it is funded through employer contributions outlined in Collective Agreements with participating employers.  These contributions are held in Trust and used to provide the benefits outlined in the Plan.  The Plan is governed by a jointly Trusteed Board with equal representation from the Union and the participating employers.  Three Trustees are appointed by the Union, and three are appointed by the employers.  The Board has fiduciary responsibility for managing and overseeing the operations of the Plan.  To fulfill their responsibilities, the Trustees engage consultants as needed, including a Dental Consultant.  These professionals assist with evaluating benefit eligibility and considering potential changes to the Plan.

There are over 3,500 eligible members and at least 63% of these eligible members have dependents that are also eligible for benefits. There are approximately 47 employers who participate in the Health & Wellness Plan.