B.A.C. Local No. 3 Defined Contribution Pension Plan

B.A.C. Local No. 3 Defined Contribution Pension Plan

The B.A.C. Local No. 3 Defined Contribution Pension Plan provides retirement benefits for unionized bricklayers, terrazzo workers, marble masons, and finishers across California. Governed by a board of trustees that includes union and management representatives, the plan is overseen by President Troy Garland alongside union trustees Dave Jackson and Gary Peifer, and management trustees Jeff Barber of John Jackson Masonry and Ronald Bennett of E&S Masonry. The plan absorbed the San Francisco Bricklayers Local No. 7 Defined Contribution Plan in a merger effective December 31, 2019. This is a defined contribution plan, meaning participants accumulate individual account balances rather than earning a guaranteed monthly payout in retirement. Employer contributions are the sole funding source. At distribution, members choose between a lump-sum payment, a rollover to an IRA, or monthly installment payments. The plan's investment structure includes a pooled investment trust based in Pleasanton, California, though specific asset-class allocations, fund manager rosters, and total plan assets are not publicly disclosed. The plan is administered alongside the affiliated B.A.C. Local No. 3 Health & Welfare Trust Fund, sharing administrative resources and overlapping trustee oversight. It also maintains a relationship with the Bricklayers and Trowel Trades International Pension Fund. The plan is a member of the International Foundation of Employee Benefit Plans, a professional network for multi-employer and public-sector benefit plan administrators. Structurally, the Local No. 3 DC Plan is a classic Taft-Hartley multi-employer plan — jointly trusteed by labor and management, funded solely by contributing employers, and designed for a highly mobile construction workforce that moves between signatory contractors. Its governance architecture separates it from single-employer plans and public pension systems, with fiduciary duties distributed across a board of trustees who are active in the bricklaying trade and its contracting community.