BAC Local 3 NY Individual Account Retirement Fund

BAC Local 3 NY Individual Account Retirement Fund

BAC Local 3 NY Individual Account Retirement Fund was established in 1982 as a multiemployer defined-benefit plan serving eligible members of the Bricklayers and Allied Craftworkers Local 3 in New York. The fund operates under a Taft-Hartley structure, jointly governed by a Board of Trustees that includes union president Richard Toland and three employer representatives — Bradley Walters, Jay Niedzialkowski, and Frank Martino Jr. Its sponsoring union is an affiliate of the International Union of Bricklayers and Allied Craftworkers, situating the fund within a broader national labor ecosystem. The fund's investment strategy reflects the conservative, liability-driven posture typical of smaller multiemployer plans. Asset exposure is accessed predominantly through pooled vehicles rather than separate accounts, with disclosed relationships including MassMutual Select Funds and Vanguard Index Funds. The geographic concentration is domestic, anchored in the Northeast where its member base works. At roughly $95 million (Altss estimate), the fund is small by institutional standards but plays an essential role in the retirement architecture of a skilled-trade workforce. The fund leverages the scale of the International Union's broader network for education and advocacy but operates with local autonomy. Structurally, the fund differs from a single-family office or a larger public pension in its lack of direct deal capacity. There is no captive venture arm, no co-investment program, and no dedicated internal investment team. Its influence is exerted through fund-manager selection and periodic rebalancing rather than active portfolio construction. This makes it a predictable, slow-moving allocator — less sensitive to short-term market cycles but potentially exposed to long-term underfunding risks common among building-trades plans.