32BJ School Workers Pension Fund

32BJ School Workers Pension Fund

The 32BJ School Workers Pension Fund was established to provide retirement benefits for members employed in New York City schools. Employers contribute according to agreements negotiated with the 32BJ SEIU union. Trustees are appointed equally by the union and employer groups such as NYC School Support Services. The fund targets allocations of 52 percent equities, 30 percent fixed income, 8 percent hedge funds, 7.5 percent real estate and 2.5 percent private equity. Confirmed limited partner commitments include Oaktree Real Estate Debt Fund II, PIMCO Distressed Senior Credit Opportunities Fund III, Blackstone Capital Partners V and VI, and Athyrium Opportunities Fund III. Investments span the United States and select global opportunities. Assets stood at $539 million as of the most recent valuation. The fund maintains relationships with service providers including The Segal Company as actuary, Schultheis and Panettieri as auditor, and Gallagher Fiduciary Advisors as investment advisor. It belongs to the International Foundation of Employee Benefit Plans and is insured by the Pension Benefit Guaranty Corporation. Governance follows a multi-employer structure in which SEIU Local 32BJ and employer associations each appoint half the board of trustees, creating a formal balance between labor and management interests.