Updated:
Asbestos Workers Local 6 Pension Fund
Administered through a joint board of union and employer trustees, the fund provides retirement security exclusively to members of the Heat & Frost Insulators...
Asbestos Workers Local 6 Pension Fund
Administered through a joint board of union and employer trustees, the fund provides retirement security exclusively to members of the Heat & Frost Insulators and Allied Workers Local 6, a Boston-based building-trades local. The plan is collectively bargained with the Insulation Contractors Association of New England, which supplies the employer trustees. This is a classic multiemployer Taft-Hartley framework: contributions flow from signatory contractors, and benefits are portable across union employment within the jurisdiction. Despite its modest size and the absence of publicly filed Form 5500 summaries in this record, the fund's asset base includes a distinctive direct real estate holding — a commercial property at 750 Dorchester Avenue in Boston that houses Local 6's offices and a mixed-use strategic real estate allocation. Small pension plans in the building trades frequently prioritize income-producing property and fixed-income instruments over private equity or venture capital, reflecting a liability stream that must deliver monthly checks to retired insulators with low tolerance for illiquidity. The Board of Trustees is composed equally of labor and management representatives: union trustees Jeffrey Saliba, Francis Boudrow, and James Lister sit opposite employer trustees Patrick Gallagher, Stephen Johnson, Jr., and Thomas Romano. No staff investment professionals are publicly listed, which is typical for smaller funds where trustees directly oversee allocated portfolios, often leaning on third-party investment consultants and union-facing financial-services providers for asset-management execution. The fund is structurally distinct in how it embeds its union identity into its balance sheet: the ownership of a local union hall as an office-facility asset creates a direct alignment between the plan's real estate exposure and the operational footprint of its participants. This is a governance feature found almost exclusively in building-trades Taft-Hartley plans — a physical, unsecuritized asset that both anchors the local's operations and generates cost savings for the fund.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Quincy
Corporate office
Quincy, MA, United States
Additional offices
750 Dorchester Avenue, Boston, MA 02125
Principals
Jeffrey W. Saliba
Union Trustee
Francis C. Boudrow
Union Trustee
James R. Lister
Union Trustee
Patrick Gallagher
Employer Trustee
Stephen B. Johnson, Jr.
Employer Trustee
Thomas Romano
Employer Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at Asbestos Workers Local 6 Pension Fund?
The fund is governed by a Board of Trustees split evenly between union and employer representatives. There are no publicly listed in-house investment staff; small Taft-Hartley plans typically delegate asset management to external consultants and allocate under trustee oversight. Current union-side trustees include Jeffrey Saliba, Francis Boudrow, and James Lister, while Patrick Gallagher, Stephen Johnson Jr., and Thomas Romano represent the contributing contractors.
How is this pension fund different from a typical corporate or public pension fund?
It is a Taft-Hartley multiemployer plan, jointly sponsored by the Insulators Local 6 union and the Insulation Contractors Association of New England. Unlike a corporate single-sponsor plan, multiple employers contribute on behalf of workers, and benefits follow the participant across union jobs. Unlike a public pension fund, it has no access to taxpayer funding and must rely solely on negotiated employer contributions and investment returns.
What assets does the fund hold?
The fund owns a direct commercial property at 750 Dorchester Avenue in Boston, the union's office facility, and holds a strategic real estate allocation of mixed-use assets. Most small Taft-Hartley funds supplement direct real estate with allocations to fixed income and public equities to match monthly retiree payouts, though the precise portfolio composition is not publicly disclosed.
Does Asbestos Workers Local 6 Pension Fund invest in private equity or venture capital?
There is no public evidence of a meaningful private equity allocation. Building-trades Taft-Hartley plans of this size generally avoid the liquidity and funding constraints that private equity commitments impose, preferring income-generating real estate and conservative fixed-income portfolios that align with near-term retiree liabilities.
What is the participant base and which employers contribute?
The plan covers members of the Heat & Frost Insulators and Allied Workers Local 6, which represents mechanical insulation workers in the Boston area. Contributing employers are signatory to a collective bargaining agreement with the Insulation Contractors Association of New England, the multiemployer association that negotiates contribution rates and provides the employer trustees to the fund.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on pension funds?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: