Bricklayers & Allied Craftworkers Local #4

Bricklayers & Allied Craftworkers Local #4

Bricklayers & Allied Craftworkers Local #4 operates as a multi-employer Taft-Hartley pension plan covering active and retired bricklayer, pointer-cleaner-caulker, stone mason, and tile finisher members. Its jurisdiction spans two distinct geographies: Indiana/Kentucky and Southern California. The fund's sponsor is the International Union of Bricklayers and Allied Craftworkers, which charters Local #4 to provide defined-benefit retirement security funded through collectively bargained employer contributions from signatory contractors. Local #4's deployed capital flows predominantly into secondary market positions rather than direct property or direct lending originations. This secondary strategy suggests a portfolio built through acquired limited-partnership interests in real estate and infrastructure funds, purchased from other limited partners seeking early liquidity. The fund's real asset footprint is physically anchored by union-owned facilities that double as training centers, including a main hall in La Verne, California, on Sierra Way and an Indianapolis office on Moller Road, while maintaining apprenticeship operations in Irwindale and a chapter office in South Bend. Contractor partners like Balfour Beatty Construction contribute to the plan through project labor agreements on public works, cementing the employer-contribution pipeline. The pension plan's assets cover Southern California, where the dense concentration of signatory contractors in the Los Angeles and Orange County building trades generates the bulk of contributions. Its affiliation with the Los Angeles/Orange Counties Building and Construction Trades Council embeds the fund within the largest regional labor-coordination body on the West Coast. The Indiana/Kentucky partnership with entities like the Associated Construction Contractors of New Jersey suggests a pattern of multi-regional employer associations that widen the contribution base beyond a single local market. Unlike single-employer corporate pensions, Taft-Hartley plans like Local #4's are jointly trusteed by union officers and contributing employer representatives—a governance model that legally precludes unilateral control by either labor or management. This dual-fiduciary structure shapes investment committee behavior: risk tolerance is calibrated to the actuarial soundness required by the Employee Retirement Income Security Act (ERISA) and the contribution volatility inherent in construction-industry employment cycles.