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Construction Workers Pension Trust Fund - Lake County and Vicinity Pension Plan
The Construction Workers Pension Trust Fund serves members of Laborers' International Union of North America Locals 41 and 81 in Indiana's Lake County region.
Construction Workers Pension Trust Fund - Lake County and Vicinity Pension Plan
The Construction Workers Pension Trust Fund serves members of Laborers' International Union of North America Locals 41 and 81 in Indiana's Lake County region. Governed by a joint board of union and management trustees — chaired by David Deprizio with Kevin Roach as secretary — the fund provides defined-benefit retirement income alongside disability and death benefits. A related Health Reimbursement Account trust, administered from the same Merrillville office, extends post-retirement healthcare coverage for the same member base. Investment strategy spans a deliberately wide private-markets aperture. The fund commits to buyout and venture capital partnerships, writes checks into distressed-debt and special-situations vehicles, and participates across early-stage through late-stage strategies — seed, startup, and expansion rounds all appear in plan documents. Fund-of-funds commitments provide additional diversification, while mezzanine and direct co-investment structures round out the private-capital allocation. One confirmed direct real estate position is a stake in Invesco Core Real Estate U.S.A., a core open-end property fund. Geographic focus remains domestic, though underlying partnership interests may create indirect international exposure. The fund operates from a single administrative office in Merrillville, Indiana. Plan Administrator Scott Fredrick oversees day-to-day administration. While total asset or deployment figures remain undisclosed, the fund's multi-strategy private-markets mandate mirrors the approach of larger Taft-Hartley plans that seek inflation-hedging and return-premium characteristics outside public equities. Governance runs through a traditional joint-trustee Taft-Hartley structure — management trustees appointed by contributing employers, union trustees named by the locals — ensuring investment decisions require bilateral consent. Joint trustee governance defines this fund's structural differentiator. Unlike corporate or public pension boards, Taft-Hartley plans must reconcile labor and management interests on every allocation decision, investment policy statement amendment, and consultant hire. For Lake County's plan, this shared-fiduciary model channels capital from union construction wages into private-market commitments that neither party controls unilaterally — a governance architecture that Northeastern and Midwestern building-trade plans have used for decades to build diversified portfolios with lower correlation to contractor business cycles.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Merrillville
Corporate office
Merrillville, Indiana, United States
Principals
David Deprizio
Chairman of the Board of Trustees (Management Trustee)
Kevin Roach
Secretary of the Board of Trustees (Union Trustee)
Scott Fredrick
Plan Administrator
Sector focus
Frequently asked questions
Who makes investment decisions at this fund?
A joint board of trustees — composed of union representatives from LIUNA Locals 41 and 81 alongside management trustees appointed by contributing employers — governs all investment policy. David Deprizio serves as chairman from the management side, while Kevin Roach serves as secretary from the union side. The Taft-Hartley structure requires that both labor and management consent to any allocation change or commitment.
What asset classes does the fund invest in?
The plan maintains a broad private-markets allocation that spans buyout funds, venture capital partnerships (seed through late-stage), distressed debt vehicles, mezzanine strategies, special situations, and fund-of-funds commitments. It also holds direct commercial real estate exposure, with a confirmed position in Invesco Core Real Estate U.S.A., an open-end core property fund. This diversified private-capital mix is characteristic of building-trade Taft-Hartley plans seeking returns beyond public fixed income.
Which union locals participate in this pension plan?
The plan covers members of Laborers' International Union of North America Locals 41 and 81, both based in Indiana's Lake County region near the Illinois border. These locals represent construction laborers working on commercial, industrial, and infrastructure projects in the Chicago-Northwest Indiana corridor. The plan's website domain name — 41and81pension.com — reflects this dual-local structure.
Does the fund maintain separate healthcare benefits?
Yes. A related entity — the Construction Workers of Lake County HRA Trust Fund — administers Health Reimbursement Account benefits for the same member population. It shares the same Merrillville, Indiana administrative address and sits under common administration with the pension plan. The separation between pension assets and healthcare reimbursements is standard Taft-Hartley trust structuring.
How does Taft-Hartley governance affect investment strategy?
Under the Labor Management Relations Act, Taft-Hartley plans require equal representation from union and employer trustees, creating a shared-fiduciary model where no single constituency controls the portfolio. This often produces investment policies that emphasize diversification, professional third-party management through funds and partnerships, and a long-horizon orientation aligned with defined-benefit payout obligations. Investment consultants typically serve both trustee factions, and major allocation decisions demand bilateral approval.
Is this a single-employer or multi-employer plan?
It operates as a multi-employer Taft-Hartley defined-benefit pension plan. Multiple construction contractors that employ LIUNA Local 41 and 81 members contribute under collective bargaining agreements. The multi-employer structure pools assets across firms, portability benefits for workers moving between signatory contractors, and spreads funding risk across a broader contribution base than a single-employer plan.
Does the fund disclose total assets or deployment figures?
No public AUM or total deployment figure is currently disclosed. The plan files annual Form 5500 reports with the Department of Labor, which typically include asset and liability data, but these filings are not surfaced on the plan's public-facing website. Without a current public filing or statement, Altss treats AUM as undisclosed.
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.
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