TEIBAS’ The Wire

Who we are

Welcome to TEIBAS’s The Wire. This blog is a one-stop shop for you, our members, whether you want more information on your pension and/or benefit plans, you’re looking to explore retirement planning tools, or want to keep up with TEIBAS — this blog is for you! As members of IBEW Local 353 you are enrolled in the IBEW Local 353 Pension and Benefits Plans. Here at TEIBAS, we administer those plans. We are a small organization with a dedicated and caring team that strives for excellence in delivering the best member experience possible.

Here are a few things you should know about us:

  1. We’re here to help. We are a dedicated, reliable, and trusted source of professionals when it comes to your pension and benefits.
  2. We are member-centric. Everything we do is grounded in efficiency and excellence for you, our members.
  3. We are helping you protect your future. We inform and help members prepare for their retirement by providing them with the information they need.
  4. We deliver member value through transparency, integrity, and respect. These three strategic elements are the cornerstones of every interaction with our members and their employers.

Whether you are a new member, long-standing member, or a retiree, we’re always here to help. This blog is just one of the many resources available to you as a member of the IBEW Local 353. Questions about your pension and benefits? Email us at memberservices@teibas.com or give us a call at 416-637-6789 or toll free at 1-800-267-0602.

Stay informed on the latest news from TEIBAS and other news on your benefit and pension plans by checking back here on our blog regularly.

New Retirement Age & Pre-Retirement Checklist

Are you keeping up with TEIBAS? In our May 2022 Newsletter, we announced that members voted overwhelmingly to introduce a new early unreduced pension eligibility age of 61. Retiring can be an exciting but also a stressful life event that takes time and planning. Here at TEIBAS we are dedicated to making sure you have all the information you need to meet your retirement goals.

Use this checklist to start putting your retirement goals in to action:

  • Sign-up for upcoming information session by emailing members@teibas.com or calling 416-637-6789.
  • Make a retirement plan and review your finances.
  • Access myteibas.com and review your Annual Pension Statement each year.
  • Use the TEIBAS pension estimator to see how the value of your pension may change over your career.
  • Visit servicecanada.gc.ca to access your My Service Canada Account which provides convenient and secure access to view your Canada Pension Plan (CPP), and Old Age Security (OAS) information online.
  • Review your RRSP savings and the contribution room you have available to you.
  • Watch LifeSpeak retirement and financial planning videos.
  • Learn more about retirement planning with Smart Path, part of Canada Life has many resources to help you plan for your retirement.
  • Update any life changes such as a change in address, adding or removing a spouse, adding children or beneficiaries on myteibas.com.

Click here to download and print a checklist of your own!

Ready to Retire?

Remember life doesn’t end at retirement, it’s a whole new beginning. Make sure you have a retirement plan in place to protect your future. Contact TEIBAS, before you retire as part of your retirement planning so you are aware of the changes that happen to your benefits at retirement, and make sure you know how to keep your retiree benefit coverage in force. Request your personalized pension retirement option package.

 

 

 

Disclaimer: This blog was prepared on behalf of the Trustees of the Local 353 IBEW Trust Funds. It provides summary information about the Local 353 Health and Welfare Plan and the IBEW 353 Pension Plan (registration number 0598235) in plain language. This publication is not intended to provide advice. If there is any discrepancy between this document and the legal documents that govern the plans, the legal documents will apply. The Trustees expect to maintain these benefit plans indefinitely. However, they reserve the right to change or cancel any or all benefits under the Health and Welfare Plan, the Pension Plan, and the SUB Plan for active and retired members, and their survivors and dependants.