# BAC Local 3 NY Individual Account Retirement Fund

BAC Local 3 NY Individual Account Retirement Fund is a Pension Fund based in Rochester, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Rochester, United States
- **Region:** North America
- **Address:** Rochester, NY, United States
- **Founded:** 1982
- **Assets under management:** $50M–$200M (Altss estimate)
- **Website:** bac3ny.com

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Real Estate
- Private Credit
- Hedge Funds

## People

- Richard Toland — Trustee
- Bradley Walters — Employer Trustee
- Jay Niedzialkowski — Employer Trustee
- Frank Martino Jr. — Employer Trustee

## Questions

### Who runs investment decisions at the BAC Local 3 NY fund?

Investment oversight rests with a joint Board of Trustees, which includes union-side representative Richard Toland and three employer trustees — Bradley Walters, Jay Niedzialkowski, and Frank Martino Jr. Day-to-day management is almost certainly outsourced to a third-party administrator or investment consultant, as the fund has no publicly named internal investment staff.

### How is the fund structured, and who sponsors it?

It is a multiemployer defined-benefit plan governed under the Taft-Hartley Act. The sponsoring entity is BAC Local 3 New York, which represents bricklayers and allied craftworkers in the upstate region and is itself an affiliate of the International Union of Bricklayers and Allied Craftworkers.

### How large is the fund relative to other building-trades pensions?

It is small. The estimated $95M asset pool places it in the bottom quartile of US multiemployer plans by AUM. Larger BAC-affiliated plans — such as the International Union's national pension fund — operate at billion-dollar scale, while Local 3 NY's fund serves a concentrated membership base in the Rochester and upstate New York building markets.

## Related profiles

- [Saint Michael's College](https://altss.com/profile/saint-michael-s-college)
- [Central College Endowment](https://altss.com/profile/central-college-endowment)

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/bac-local-3-ny-individual-account-retirement-fund

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