# Building Trades Annuity Benefit Fund

Building Trades Annuity Benefit Fund is a Pension Fund based in Holtsville, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Holtsville, United States
- **Region:** North America
- **Address:** Holtsville, New York, United States
- **Founded:** 1996
- **Assets under management:** Undisclosed
- **Website:** btannuityfund.org
- **LinkedIn:** https://btannuityfund.org/

## Regulatory record

- **Reports private funds:** No

## About

The Building Trades Annuity Benefit Fund was established in 1996 as a multiemployer defined-contribution plan serving eligible employees of the Building Industry Electrical Contractors Association (BIECA) and represented by Local 363 of the United Electrical Workers of America. Founding trustees Frank Rappo, former owner of R&L Systems, and Eric Olynik, former owner of D&E Electrical Contractors, serve as fiduciaries. The fund operates alongside three affiliated multiemployer vehicles: the Building Trades Welfare Benefit Fund, the Building Trades Educational Benefit Fund, and the Electrician's Retirement Fund. The fund's investment strategy spans buyout, distressed debt, mezzanine, and venture capital across stages from seed to expansion. It executes primarily through fund-of-funds commitments and direct co-investments. Confirmed positions include Prudential Retirement Real Estate Fund II and Pramerica Real Estate Capital IV, signaling a durable allocation to commercial real estate credit and equity. The portfolio targets North American opportunities, with a bias toward private-markets structures that can absorb consistent contribution flows from plan participants. Plan governance rests with BIECA, which holds authority to appoint trustees — a model common among Taft-Hartley plans where employer associations share oversight with union representatives. The fund's service providers and specific outside investment consultants are not publicly enumerated. A detailed breakdown of current allocation by strategy, total deployment, or staff headcount is not disclosed. What distinguishes this vehicle from a standard corporate pension is its organizing principle: a labor-management partnership channels hourly wages into institutional commitments. The trustee composition — contractors elevated from the shop floor — embeds operational familiarity with the member base inside the fiduciary tent, a governance pattern that influences pacing, liquidity preferences, and risk tolerance in ways a purely financial sponsor would not replicate.

## Sectors

- Real Estate
- Private Credit
- Venture Capital

## People

- Frank Rappo — Trustee and Fiduciary
- Eric Olynik — Trustee and Fiduciary

## Questions

### Who runs investment decisions at the Building Trades Annuity Benefit Fund?

Frank Rappo and Eric Olynik are the named trustees and fiduciaries. Rappo previously owned R&L Systems and Olynik owned D&E Electrical Contractors. The Building Industry Electrical Contractors Association appoints trustees, though the fund has not publicly identified separate investment committee members or an outside CIO.

### How is the fund related to other Building Trades benefit vehicles?

The Annuity Benefit Fund operates alongside three sister multiemployer plans: the Building Trades Welfare Benefit Fund, the Building Trades Educational Benefit Fund, and the Electrician's Retirement Fund. All serve the same participating local and employer group, though each has a distinct benefit mandate.

### What is the fund's posture on co-investments alongside external managers?

Available records do not specify a co-investment policy. The disclosed fund-of-funds and venture tags leave open the possibility, but the fund has not published guidelines, allocation targets, or past co-investment examples. An allocator evaluating manager capacity should ask directly about sidecar or co-invest rights in committed vehicles.

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Last updated: 2026-06-03T20:00:00.000Z

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