Bricklayers Local 1 Washington and Alaska

Bricklayers Local 1 Washington and Alaska

The Bricklayers Local 1 Washington and Alaska Pension Trust was established in 1968 to provide retirement, disability, and death benefits to members of the International Union of Bricklayers and Allied Craftworkers (BAC) Local 1. The plan covers eligible bricklayers, pointers, cleaners, and caulkers across Washington and Alaska. President Matthew Bilyeu oversees the fund alongside field representatives and training coordinators who maintain direct lines to the local's active membership base. Investment strategy centers on pooled real estate and credit vehicles rather than direct company investments. The trust participates in the AFL-CIO Housing Investment Trust and Building Investment Trust, union-sponsored funds that deploy capital into multifamily residential and commercial construction projects nationwide. It also allocates to Ullico Investment Advisors' pooled funds, which focus on infrastructure, real estate, and private credit — asset classes that align with the union's building-trades identity. Geographic exposure spans the Pacific Northwest and broader US markets through these intermediary vehicles. A direct holding in the Washington Capital Management Real Estate Equity Fund adds Seattle-specific multifamily and mixed-use exposure. The trust owns its union hall in Tukwila, Washington, a commercial property at 15208 52nd Avenue South that serves as both an operational asset and a physical anchor for the local. The plan previously operated under the Pacific Northwest Administrative District Council before the International Union consolidated governance into the current 'Mega Local' structure. Thomas F. McIntyre served as receiver for that predecessor council, overseeing the transition that shaped the plan's current administrative architecture. The fund's modest scale — roughly $149 million — reflects a member base concentrated in skilled trades rather than high-volume industrial employment, which constrains contribution inflows relative to larger multi-employer plans. What distinguishes this trust is its dual identity as both a pension fiduciary and a direct stakeholder in unionized construction activity. Unlike corporate or public pension funds, a Taft-Hartley plan like this one is jointly trusteed by labor and management — meaning investment decisions must balance return objectives with the employment interests of contributing contractors. The hall on 52nd Avenue South doubles as a training center, where apprentice coordinator Lowell Gladowski runs programs that feed the same workforce whose retirement assets the trust manages. That closed-loop relationship between training pipeline, job site, and retirement security creates a governance dynamic absent from most institutional portfolios.