Updated:
Bricklayers, Tilesetters and Allied Craftworkers Local 3
BAC Local 3 California operates a multiemployer defined-benefit plan established in 1981 to cover bricklayers, tilesetters, and allied craftworkers across...
Bricklayers, Tilesetters and Allied Craftworkers Local 3
BAC Local 3 California operates a multiemployer defined-benefit plan established in 1981 to cover bricklayers, tilesetters, and allied craftworkers across Northern California. Troy Garland, Secretary-Treasurer, and David Jackson, President, serve as the plan's named fiduciaries. The pension's assets originate from employer contributions negotiated through collective-bargaining agreements tied to BAC Local 3, whose members work on commercial and residential masonry projects throughout the Bay Area and Central Valley. Investment policy is secondary-market focused. Unlike multi-billion-dollar peer plans that allocate across primary private equity partnerships, this fund deploys its $52M pool into secondaries targeting real assets — a posture that likely reflects the smaller-scale, lumpy nature of construction-union pension commitments. The plan's administrator, BeneSys, Inc., manages day-to-day operations, but ultimate authority sits with a board of union and contributing-employer trustees. While individual portfolio holdings are not publicly disclosed, the approach aligns with the long-duration liabilities of a building-trades workforce where retirement payouts stretch 30 years. The plan maintains close structural ties to BAC Local 3's real asset holdings — including a San Leandro headquarters, two apprenticeship centers in West Sacramento and San Leandro, and the Masonry Development Center in Tracy. It operates alongside the Northern California Tile Industry Health and Welfare Trust Fund and the Bricklayers and Allied Crafts Local No 3 Apprentice Training Trust. These separate trust entities, while legally distinct, create an interlocking set of fiduciary obligations managed by overlapping officer-slate that includes Garland and Jackson. What separates this fund from larger public plans is its dual identity. It functions as a retirement vehicle while remaining embedded inside a collective-bargaining ecosystem where the same union officers who negotiate wages and apprentice training also oversee pension investment decisions. That governance structure — common among building-trades multiemployer plans — binds investment performance directly to the health of a single skilled-labor market in Northern California.
General information
Firm type
Pension Fund
Year founded
1981
Location
Region
North America
Country
United States
City
Pleasanton
Corporate office
Pleasanton, CA, United States
Additional offices
San Leandro, CA · Tracy, CA · West Sacramento, CA
Principals
Troy Garland
Secretary-Treasurer
David Jackson
President
Sector focus
Frequently asked questions
Who runs investment decisions for the BAC Local 3 pension plan?
The plan operates under a joint board of union and contributing-employer trustees. Troy Garland, Secretary-Treasurer of BAC Local 3, and David Jackson, President, are the named union-side fiduciaries. An employer trustee caucus provides the management-side representation, with contract administrator BeneSys, Inc. handling operational administration.
How large is the BAC Local 3 pension plan's asset pool?
The plan does not publicly disclose AUM. Altss research estimates the plan holds approximately $52 million in assets. The number places it among the smaller multiemployer defined-benefit plans in California's building trades, where larger funds like the Carpenters or Operating Engineers can run into the billions.
What is the plan's investment posture?
The plan concentrates on secondaries, specifically within real assets. This niche focus makes sense for a sub-$100M pool that cannot access prime primary private equity or infrastructure fund commitments at scale. Instead, it likely acquires LP interests in existing real estate or real-asset funds on the secondary market, gaining exposure without lock-up durations that would impair liquidity relative to a mature participant base.
How does this fund relate to the other BAC Local 3 trusts?
BAC Local 3 California operates multiple trust funds under the same union roof: the pension plan, a health and welfare trust, and an apprenticeship training trust. The pension plan shares fiduciary leadership with the training trust, where Troy Garland serves as President. While legally separate ERISA vehicles, the trusts coordinate through the same local union officers, creating an integrated benefit package for BAC Local 3's craftworkers.
What role does the International Union of Bricklayers and Allied Craftworkers play?
BAC Local 3 is a chartered local of the International Union of Bricklayers and Allied Craftworkers (BAC). The international provides organizing support, national collective-bargaining templates, and training standards, but does not directly manage or backstop the local's pension plan. The plan's funding and investment governance remain entirely local, contingent on the collective-bargaining strength of BAC Local 3 vis-a-vis Northern California masonry contractors.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on pension funds?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: