# CWA/ITU Negotiated Pension Plan

CWA/ITU Negotiated Pension Plan is a Pension Fund based in Mount Laurel, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Mount Laurel, United States
- **Region:** North America
- **Address:** 27 Roland Avenue, Mount Laurel, NJ 08054, United States
- **Founded:** 1967
- **Assets under management:** Undisclosed
- **Website:** cwaitunpp.org

## Regulatory record

- **Reports private funds:** No

## About

The CWA/ITU Negotiated Pension Plan (NPP) launched in 1967 as a multi-employer defined-benefit plan co-founded by the Communications Workers of America and the International Typographical Union, which later merged into CWA. Contributions flow from employers under collective bargaining agreements, with an equal number of trustees representing labor and management. The Plan moved administration to Frank M. Vaccaro & Associates in 2021, shifting operations from Colorado Springs to Mount Laurel while preserving the same actuarial firm and benefit systems. The Plan deploys capital across a range of private-market sleeves. Real estate commitments include the ASB Allegiance Real Estate Fund, concentrated in California and Massachusetts, and a dedicated U.S. Real Estate Investment Fund LLC. The private-credit allocation features Crescent Mezzanine Partners VI, while the infrastructure bucket and venture exposure round out the alternatives program. The venture strategy spans early-stage seed and startup investments through late-stage expansion, with fund-of-funds and direct co-investment structures available. The Plan received $545.6 million in Special Financial Assistance from the Pension Benefit Guaranty Corporation in 2024, a cash infusion that changed the liquidity profile for near-term benefit obligations. The Plan has paid over $1 billion in benefits since inception. Trustee and authorized signers include Arthur Deianni and Theodore Rilea Jr., while Emily Tolomeo serves as Administrator. Files available on the Plan’s website confirm 2023 audited financials and a 2024 actuarial valuation. Unlike corporate or public pensions, the NPP’s multi-employer structure means no single company bears the liability alone — employers contribute under negotiated rates, and contribution levels can adjust contract by contract. That architecture, combined with the 2024 PBGC assistance and an active alternatives program, creates an unusual blend: a collectively bargained safety net that allocates like an institutional investor across private credit, real estate, and venture.

## Sectors

- Real Estate
- Private Credit
- Infrastructure
- Venture Capital
- Buyout

## People

- Emily Tolomeo — Administrator

## Questions

### How is the CWA/ITU Negotiated Pension Plan funded?

Employer contributions fund the Plan under terms negotiated in collective bargaining agreements. Contributions can be set on a cents-per-hour, dollars-per-day, or percentage-of-earnings basis, and must be uniform across all covered individuals.

### What role does the Pension Benefit Guaranty Corporation play in the Plan’s finances?

The PBGC provided $545.6 million in Special Financial Assistance to the Plan in 2024. This cash infusion helps the Plan meet its near-term benefit obligations and is disclosed in the Annual Funding Notice available on the Plan's website.

### Which unions are involved in the governance of the Plan?

The Communications Workers of America is the primary union representing plan participants. The International Typographical Union, which merged into CWA, was the original co-founder. The Board of Trustees includes an equal number of labor and employer representatives.

### What types of alternative investments does the Plan hold?

The Plan allocates across infrastructure, private debt via Crescent Mezzanine Partners VI, U.S. real estate through ASB Allegiance Real Estate Fund and a proprietary LLC, and venture capital, with exposure from early-stage seed to late-stage expansion using fund-of-funds and direct structures.

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Last updated: 2026-08-11T02:43:31.692Z

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