Construction Industry and Laborers Joint Pension Trust for SO Nevada, Plan A

Construction Industry and Laborers Joint Pension Trust for SO Nevada, Plan A

Construction Industry and Laborers Joint Pension Trust for SO Nevada, Plan A was established in 1969 as a multiemployer defined-benefit plan covering eligible members of Laborers International Union of North America, Local No. 872. It provides retirement, disability, and death benefits to a construction workforce concentrated in Las Vegas and greater Clark County. Tommy White, who serves as Business Manager-Secretary Treasurer of Local 872, has led the board of trustees for more than two decades. The sponsoring union and contributing employers—through the Taft-Hartley framework—fund the plan, which owns the 2345 Red Rock Street office property in Las Vegas that houses its administration and the Laborers Health and Wellness Clinic, an associated benefit for plan participants. The trust allocates across an unusually broad mandate for a mid-sized Taft-Hartley plan. Public filings and consultant disclosures show commitments spanning buyout funds, distressed debt, mezzanine lending, early-stage venture capital, secondaries, and co-investment vehicles. It runs a fund-of-funds sleeve alongside direct fund commitments, accessing strategies from turnaround and expansion capital to seed-stage venture. While specific GP relationships are not publicly detailed, the plan's investment policy reflects a multi-manager approach consistent with consultant-advised pension portfolios of its size. Geographically, the trust concentrates its real-asset and infrastructure exposures in the Western US, but venture and private equity commitments reach managers investing across North America and, to a limited extent, Europe. The board of trustees blends union and employer representation. Tommy White serves as a union trustee, while employer trustees like Guy Martin, president of Martin-Harris Construction—a major Las Vegas general contractor—bring the contributing employer perspective to fiduciary oversight. Lou DeSalvio, president of the Southern Nevada Laborers Local 872 Training Trust, is closely involved in adjacent labor-management governance. The trust administers roughly $567 million in assets as of the most recent available data, placing it among mid-tier multiemployer plans nationally but a meaningful institutional investor within Nevada's pension ecosystem. In May 2024, the plan disclosed continued active commitments to private markets strategies, per public meeting minutes. This trust operates under a training-and-benefits ecosystem uncommon among standalone pension funds. The Laborers Health and Wellness Clinic, funded via the same collective bargaining architecture, sits alongside the pension plan and the training trust—a vertically integrated welfare-capital arrangement. That structure means the pension fund's investment performance directly feeds the long-term viability of healthcare delivery and apprenticeship pipelines for Las Vegas construction laborers, creating a functional link between portfolio returns and on-the-ground workforce infrastructure.