# Alaska Ironworkers Pension Plan Alaska Ironworkers Pension Plan is a Pension Fund based in Anchorage, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Anchorage, United States - **Region:** North America - **Address:** Anchorage, AK, United States - **Founded:** 1968 - **Assets under management:** $50M–$200M (Altss estimate) - **Website:** www.akironworkerstrust.com ## Regulatory record - **Reports private funds:** No ## About The Alaska Ironworkers Pension Plan was established in 1968 as a multi-employer Taft-Hartley defined-benefit fund serving members of Iron Workers Local Union No. 751. The plan provides pension, death, and disability benefits to structural ironworkers across Alaska. Governance sits with a Board of Trustees jointly appointed by the union and the contributing employers, led by Chairman Paul Carr. The Alaska Steel Contractors and Erectors Association represents the employer signatories to the collective bargaining agreements that fund the plan. The plan maintains a reciprocity agreement with the Northwest Ironworkers Trust Funds for ironworkers who work across multiple jurisdictions. The fund's investment program spans several asset classes typical of midsize Taft-Hartley plans, including private equity fund commitments, real estate funds, infrastructure vehicles, and private credit. The plan is also a participant in IMPACT, the Ironworker Management Progressive Action Cooperative Trust, a joint labor-management organization that co-invests in real estate and infrastructure projects designed to generate union ironworker jobs. In 2023 the plan received a Special Financial Assistance grant under the American Rescue Plan Act, administered by the Pension Benefit Guaranty Corporation, to shore up its funding position (per PBGC, 2023). The plan operates from Anchorage with a modest internal team; investment management is largely outsourced through an investment consultant and fund commitments. The total asset base is undisclosed publicly but estimated by Altss in the $50 million to $200 million range — a typical size for a single-local Taft-Hartley plan in a small-population state. The plan does not operate a separate philanthropic foundation, though the IMPACT trust functions as a de facto economic development vehicle for the ironworking trade. No direct co-investment program or separate managed accounts are evident. What structurally differentiates the Alaska Ironworkers Pension Plan is its position within a specific, geographically constrained labor ecosystem. Unlike large state pension systems, every investment decision filters through a joint labor-management board where capital preservation and benefit security sit alongside a secondary objective: deploying capital in ways that sustain demand for Alaskan ironworkers. The IMPACT trust connection — where union pension capital effectively co-invests alongside contractor contributions into job-generating projects — creates a closed-loop capital model unusual outside the building trades. Succession of board leadership and trustee composition is governed by the union's collective bargaining cycle and the ERISA fiduciary framework, with no single family or individual controlling the plan's direction. ## Sectors - Real Estate - Infrastructure - Private Equity - Private Credit - Natural Resources ## People - Paul Carr — Chairman of the Board of Trustees ## Questions ### How is the Alaska Ironworkers Pension Plan governed? The plan is a Taft-Hartley multi-employer defined-benefit fund jointly governed by a Board of Trustees. Half the trustees are appointed by Iron Workers Local Union No. 751, and half by the Alaska Steel Contractors and Erectors Association, the signatory employer group. Chairman Paul Carr leads the board. This shared governance structure is standard for building-trades pension funds and means no single party controls investment or benefit decisions. ### How does the IMPACT trust relationship affect the investment strategy? IMPACT — the Ironworker Management Progressive Action Cooperative Trust — is a joint labor-management organization that co-invests in real estate and infrastructure projects explicitly designed to generate work hours for union ironworkers. The Alaska Ironworkers Pension Plan is a participant, meaning a portion of its capital flows into IMPACT-affiliated investments where job creation for Local 751 members is a stated co-objective alongside financial return. This creates a labor-aligned investment thesis unusual outside the building trades. ### Has the plan faced funding challenges, and how were they addressed? Like many Taft-Hartley plans covering a shrinking union workforce in a cyclical industry, the Alaska Ironworkers Pension Plan faced underfunding pressure. In 2023 the plan was approved for a Special Financial Assistance grant from the Pension Benefit Guaranty Corporation under the American Rescue Plan Act. This taxpayer-backed infusion is designed to restore the plan to full funding through 2051 and is explicitly not a loan — it does not need to be repaid. The exact grant amount is published in PBGC records. ### Who runs investment decisions for the plan, and is there an investment committee? Investment decisions are made by the Board of Trustees, operating under ERISA fiduciary standards, with support from an external investment consultant — standard practice for a Taft-Hartley plan of this size. The board's investment committee, whose members are drawn from the union and employer trustee pools, reviews manager selection, asset allocation, and performance. Chairman Paul Carr is the named board leader, but the specific consultant and investment committee members are not publicly disclosed on the plan's website. ## Related profiles - [Oakville Community Foundation](https://altss.com/profile/oakville-community-foundation) - [Buffalo Bill Memorial Association](https://altss.com/profile/buffalo-bill-memorial-association) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/alaska-ironworkers-pension-plan Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology