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Cement Masons Pension Trust Fund for Northern California
The Cement Masons Pension Trust Fund for Northern California operates as a multi-employer Taft-Hartley pension plan, established to provide retirement security...
Cement Masons Pension Trust Fund for Northern California
The Cement Masons Pension Trust Fund for Northern California operates as a multi-employer Taft-Hartley pension plan, established to provide retirement security for members of the District Council of Plasterers and Cement Masons of Northern California. The fund is governed by a board of trustees split equally between union and employer representatives — Brian Gardner of Kiewit Infrastructure West Co. serves as Chairman, with Greg Levy of Local 300 as Co-Chairman. The administrative office is located at 4160 Dublin Boulevard in Dublin, California. The fund maintains a diversified institutional portfolio spanning public equities, investment-grade and high-yield debt, private equity, and real estate. While individual position sizes are not publicly disclosed, the allocation structure reflects a classic Taft-Hartley approach: liquid public markets for daily liquidity needs alongside illiquid alternatives for long-duration return enhancement. The real estate allocation is a distinct sleeve — consistent with many building-trades pension funds that maintain direct or indirect exposure to commercial and industrial properties tied to the jurisdictions where their members work. The fund's governance is shaped by its Taft-Hartley structure, which requires joint trusteeship between the District Council of Plasterers and Cement Masons of Northern California and contributing employers. This architecture creates a distinct fiduciary dynamic: investment decisions must satisfy both labor and management trustees, typically producing conservative portfolio construction with heavy weighting toward core fixed income and stabilized real estate. No adjacent foundation or affiliated investment vehicle is publicly documented. Among building-trades pension funds, the Cement Masons plan for Northern California represents a mid-sized, regionally concentrated pool of patient capital. The structural differentiator is the joint board itself — investment policy is negotiated between parties with inherently different time horizons and risk tolerances, which tends to produce portfolios with lower volatility and fewer idiosyncratic bets than single-sponsor corporate plans or endowment-style pools.
General information
Firm type
Pension Fund
Year founded
1959
Location
Region
North America
Country
United States
City
Dublin
Corporate office
Dublin, CA, United States
Principals
Brian Gardner
Chairman of the Board of Trustees
Greg Levy
Co-Chairman of the Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at the Cement Masons Pension Trust Fund for Northern California?
Investment decisions are overseen by a Board of Trustees co-chaired by Brian Gardner, representing Kiewit Infrastructure West Co., and Greg Levy, representing Local 300. The board operates under Taft-Hartley rules requiring equal representation from union and employer trustees. Day-to-day investment management is typically delegated to outside consultants and fund managers, common for plans of this structure.
How is this fund different from a corporate pension plan?
As a Taft-Hartley multi-employer plan, it pools contributions from multiple unionized employers across the Northern California cement and plastering trades rather than drawing from a single corporate sponsor. Governance is joint — union and management trustees share fiduciary authority equally. This structure tends to produce more conservative asset allocations and a strong preference for clearly defined, liquid benchmarks.
What asset classes does the fund invest in?
The fund allocates across public equities, investment-grade fixed income, high-yield debt, private equity, and real estate. This is a standard diversified portfolio for a Taft-Hartley plan — liquid assets support near-term benefit payments while the alternatives sleeve aims to improve long-term funding status. Specific fund commitments and direct property holdings are not publicly itemized.
Which union's members does this trust fund cover?
The trust fund serves members of the District Council of Plasterers and Cement Masons of Northern California. The union and its signatory contractors contribute to the plan under collective bargaining agreements, with benefits administered from the fund's Dublin, California office.
Does the fund allocate to real estate directly or through funds?
The fund holds a dedicated real estate allocation, a common feature among building-trades pension plans. Whether exposure is achieved through direct property ownership, separately managed accounts, or commingled real estate funds is not publicly specified — many Taft-Hartley plans use a mix. The geographic focus is likely aligned with the members' work jurisdictions across Northern California.
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