Bricklayers & Allied Craftworkers Local #3 NY

A joint board of trustees with equal labor and management representation governs the pension plans. President Richard Williamson serves as Plan Administrator, and Secretary Treasurer Jason ReQua handles day-to-day benefit fund operations. Investment consultants and external managers execute strategy under the trustees' direction, consistent with multiemployer plan governance standards.

Multiemployer plans like BAC Local 3 NY's balance monthly benefit obligations against contribution inflow from active construction projects. Liquidity must cover the 'zone status' tests under the Pension Protection Act of 2006. This creates a bias toward shorter-duration fixed income, liquid equities, and income-generating real assets, reducing flexibility for long-draw private equity or venture strategies.

BAC Local 3 NY is a chartered local of the International Union of Bricklayers and Allied Craftworkers (BAC), which represents trowel trades across North America. The local negotiates collective bargaining agreements, manages apprenticeship training through its JATC, and administers its own benefit funds independently. The international union sets training standards and national policy but does not direct local fund investment decisions.

The funds hold directly owned real estate including union hall and training center properties in Rochester, Buffalo, and Ithaca. Additional real estate exposure likely flows through commingled vehicles and REIT allocations managed by the fund's investment consultants, though no public manager roster is available.

Multiemployer plans of this scale typically access infrastructure and private credit through SEC-registered interval funds, BDCs, or pooled SMAs rather than direct commitments. No publicly reported infrastructure co-investments or private credit mandates are documented for the BAC Local 3 NY plans, suggesting conservative, consultant-led exposures.

The BAC Local 3 NY Joint Apprenticeship and Training Committee (JATC) operates as a separate legal entity funded by training contributions negotiated in collective bargaining agreements. JATC assets are not co-mingled with pension plan assets. The JATC operates training centers at the Rochester and Buffalo offices, governed by equal labor-management trustees distinct from the pension board.

The fund's leadership participates in the NCCMP 'Solutions Not Bailouts' initiative, which advocates for structural reforms to the multiemployer system including composite plan design and partition authority. The plans' green-zone or yellow-zone status is not publicly published, but engagement with NCCMP suggests attentiveness to the funding challenges facing many construction-industry multiemployer plans nationally.