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1199 SEIU Regional Pension Fund
The 1199 SEIU Regional Pension Fund operates as a Taft-Hartley multiemployer plan, pooling contributions from a network of healthcare employers in the...
1199 SEIU Regional Pension Fund
The 1199 SEIU Regional Pension Fund operates as a Taft-Hartley multiemployer plan, pooling contributions from a network of healthcare employers in the Northeastern United States to provide defined-benefit pensions for members of 1199SEIU United Healthcare Workers East. Administrator Ronda Castren oversees plan operations, while a board of trustees — including union-side fiduciaries such as Todd Hobler and employer-side representatives such as Daniel Farberman — governs investment and administrative decisions on behalf of the broader 1199SEIU Funds ecosystem, which counts 400,000 working and retired members. The plan deploys capital across a distinctly broad mandate for a union pension, targeting venture capital from seed to growth stage, buyout and distressed debt, mezzanine, secondaries, and special situations. It accesses these strategies both through fund commitments and hybrid fund-of-funds structures, with a balanced, diversified posture rather than a single asset-class concentration. Co-investment relationships are maintained with affiliated SEIU plans, including the 1199 SEIU Greater New York Pension Fund. Executive leadership participates in steering committees of the National Coordinating Committee of Multiemployer Plans, creating a shared-governance peer network that influences strategic direction. Membership in the NCCMP places the fund's leadership in direct dialogue with peers navigating similar regulatory and fiduciary terrain for multiemployer plans. The fund's structural architecture is reinforced by a board composed of both union-appointed and employer-appointed trustees, giving employer contributors such as Kaleida Health and The University of Vermont Health Network a formal voice in fiduciary oversight. This parity board model is a defining feature of Taft-Hartley governance. Unlike a corporate or public plan where a single sponsor drives allocation decisions, the fund's trustee board must reconcile union-member benefit expectations with employer-contributor solvency concerns — a structural tension that shapes every investment committee vote and distinguishes its governance from single-sponsor pension pools.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Buffalo
Corporate office
Buffalo, New York, United States
Principals
Ronda Castren
Fund Administrator and Manager
Todd Hobler
Union Trustee
Daniel Farberman
Employer Trustee
John LoStracco
Trustee
George Kennedy
Trustee
Rodney Malarchik
Trustee
Irving Wood
Trustee
James Rounds
Trustee
Lyle D. Fassett
Trustee
Rockne Burns
Trustee
Robert Brown
Trustee
Michael Capelli
Trustee
Sector focus
Frequently asked questions
Who governs investment decisions at the fund?
A board of trustees — split between union-appointed fiduciaries such as Todd Hobler and employer-appointed fiduciaries such as Daniel Farberman — jointly governs the plan. Day-to-day administration is managed by Ronda Castren as Fund Administrator. This parity governance structure is standard for Taft-Hartley multiemployer plans and means investment decisions require consensus between labor and management representatives.
What is the fund's relationship to 1199SEIU United Healthcare Workers East?
The pension fund is a separate legal entity that provides retirement benefits exclusively to eligible members of 1199SEIU United Healthcare Workers East. The union appoints half the fund's trustees, but the plan's assets are held in trust solely for the benefit of participants and beneficiaries — not as union assets. Employer contributions are negotiated through collective bargaining agreements and remitted directly into the trust.
How does the fund access venture capital and private equity?
The plan invests via fund commitments, hybrid fund-of-funds structures, and co-investments, spanning seed, early-stage, expansion, and growth-stage venture alongside buyout, distressed debt, mezzanine, and special situations. Its strategy is balanced rather than concentrated, reflecting the diversified portfolio approach typical of multiemployer plans that must manage long-duration pension liabilities.
Which employers contribute to the plan?
Contributing employers include healthcare institutions such as Kaleida Health and The University of Vermont Health Network. These contributions are made pursuant to collective bargaining agreements with 1199SEIU, with rates and terms periodically renegotiated.
Does the fund co-invest with other SEIU entities?
Yes. The 1199 SEIU Greater New York Pension Fund is identified as a co-investor, indicating that the regional fund participates in shared investment vehicles or parallel commitments alongside affiliated SEIU benefit plans.
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