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Construction Workers Pension Trust Fund - Lake County & Vicinity
The Construction Workers Pension Trust Fund serves as the defined-benefit retirement vehicle for members of Laborers' International Union of North America...
Construction Workers Pension Trust Fund - Lake County & Vicinity
The Construction Workers Pension Trust Fund serves as the defined-benefit retirement vehicle for members of Laborers' International Union of North America (LIUNA) Locals 41 and 81 in northwest Indiana. Jointly trusteed by union and contributing-employer representatives — including the Northwest Indiana Contractors Association — the fund collects negotiated hourly contributions from signatory construction firms and converts them into a pooled retirement promise. This Taft-Hartley architecture spreads longevity and investment risk across a multiemployer base, insulating individual contractors from single-employer pension volatility. David Deprizio serves as Plan Administrator, with William Roach acting as Plan Sponsor, overseeing the fund's compliance and operational administration (per the U.S. Department of Labor Form 5500 filings). The fund deploys assets predominantly through real estate and infrastructure vehicles that mandate or incentivize union construction labor, aligning capital allocation with the employment interests of its participants. Confirmed holdings include the Dublin Corporate Center — a three-building office complex at 4120, 4140, and 4160 Dublin Boulevard in Dublin, California — and a position in the AFL-CIO Building Investment Trust (BIT), a union-sponsored real estate fund that finances commercial construction projects across the United States. The fund's geographic footprint concentrates on Lake County and the broader Chicago metropolitan corridor, though the Dublin asset signals selective national real estate exposure. No publicly available filings confirm allocations to private equity, hedge funds, or venture capital, suggesting a conservative, income-oriented posture typical of union pension plans in the Midwest. The fund operates in close coordination with the Construction Workers of Lake County HRA Trust Fund, a related health reimbursement account vehicle that provides complementary retiree medical benefits. A Form 5500 estimate places the fund's assets in the $100 million to $500 million range, a scale consistent with a regional multiemployer plan serving roughly two thousand active and retired participants. No dedicated investment team headcount is publicly disclosed; investment oversight is typically exercised through a board of trustees composed equally of union and employer representatives, with day-to-day management outsourced to various investment consultants and fund managers. The fund's structural character is defined by its ERISA-governed Taft-Hartley trust status, which requires equal union and management representation on the board of trustees — a governance design that makes investment decisions inherently consensual and politically negotiated rather than centralized under a single CIO. This dual-trustee model, coupled with the union-labor mandate embedded in its real estate strategy, differentiates the fund from public pension plans and corporate defined-benefit schemes, linking portfolio construction directly to the collective-bargaining agreements that fund it.
General information
Firm type
Pension Fund
Year founded
—
AUM
$100M–$500M (Altss estimate)
Location
Region
North America
Country
United States
City
Merrillville
Corporate office
Merrillville, IN, United States
Principals
David Deprizio
Plan Administrator
William Roach
Plan Sponsor
Sector focus
Frequently asked questions
Who runs investment decisions at the Construction Workers Pension Trust Fund?
Investment policy is set by a joint board of trustees composed equally of union representatives from LIUNA Locals 41 and 81 and management representatives from signatory contractors, including the Northwest Indiana Contractors Association. Day-to-day investment management is typically delegated to external investment consultants and fund managers, though no specific consultant mandates are publicly disclosed. David Deprizio, as Plan Administrator, oversees operational execution rather than investment discretion.
Is this fund structured as a single-employer or multiemployer pension plan?
It is a Taft-Hartley multiemployer plan, meaning multiple unrelated construction employers contribute to a single pooled trust under collective-bargaining agreements. Each employer contributes a negotiated hourly rate per worker, and the trust's joint board — not any single employer — controls benefit levels and investment policy. This structure spreads risk across the participating contractor base and is governed by ERISA and the Labor-Management Relations Act.
How does the fund source its real estate investments?
The fund invests through union-sponsored real estate vehicles, notably the AFL-CIO Building Investment Trust (BIT), which channels pension capital into commercial construction projects that require union labor. It also holds individual commercial properties such as the Dublin Corporate Center in California. These investments are selected to generate income while supporting the employment base that funds the plan — a dual-purpose approach common among building-trades pension funds.
Which union locals participate in this fund?
LIUNA Local 41 and LIUNA Local 81 are the participating locals, both based in northwest Indiana and representing laborers in commercial, industrial, and public-works construction. The locals bargain contribution rates into the pension fund through master agreements with signatory contractors, and the fund's benefit accrual formulas apply uniformly across all participating employers.
Does the fund maintain a relationship with a health and welfare trust?
Yes, the Construction Workers of Lake County HRA Trust Fund operates alongside the pension fund to provide health reimbursement account benefits for retirees. The two trusts share union and employer sponsorship but are legally separate entities with distinct funding and benefit obligations, a structural separation required by ERISA to insulate pension assets from non-pension liabilities.
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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