Exciting news! Avenu has been awarded a 10-year agreement with the Toronto Electrical Industry Benefit Administrative Services (TEIBAS). This is a massive accomplishment for our company, and it would not have been possible without the dedication and hard work of the Pension Team.
Under this agreement, Avenu will provide TEIBAS with our innovative Clearview Pension Administration System (CPAS software, which offers a comprehensive solution for managing and delivering everything administrators, employers, members, and retirees need. The software provides a single system for the administration of all plan types and functions, enabling administrators to have a holistic view of members’ records. Members, on the other hand, can access self-service portals with benefit calculation and retirement planning tools to prepare for their futures. Our customers love the software because it is easy to adapt to changes in plan designs, legislation, and advancements in administration practices, making it simple and easy to maintain.
TEIBAS has trust funds totaling more than $1.5 billion and exclusively serves over 11,000 active and retired members of the International Brotherhood of Electrical Workers (IBEW) Local 353. Additionally, the organization collects contributions from, and provides service to over 450 electrical contractors in the Greater Toronto Area. This contract award represents a significant win for Avenu’s Pension Team, and we’re excited to embark on this new journey.
We want to extend our warmest congratulations to everyone who played a part in this win. Special thanks to those who participated in the RFP process, including Lorri Davies, David Walsh, Jason Chin, Vanessa Rogers and the entire CPAS Development Team! Without your contributions, we wouldn’t be celebrating this victory today.