Electrical Workers (IBEW) Local #26

The fund is governed by a joint board of trustees with equal representation from IBEW Local 26 and the National Electrical Contractors Association's Washington, D.C. chapter. All material investment decisions require consensus between labor and management trustees, a governance structure standard for Taft-Hartley plans and required under the Labor Management Relations Act. Day-to-day investment management and manager selection are typically delegated to an investment consultant, though the specific advisor is not publicly named.

The fund's private-markets program emphasizes secondary transactions, which allow it to acquire seasoned LP interests in private equity, infrastructure, and real assets funds. This secondaries focus is consistent with Taft-Hartley plans seeking to manage J-curve effects and vintage-year concentration risk. The fund also holds direct interests in real estate, including its training facilities and administrative headquarters in Lanham, Maryland, which function as both operating assets and balance-sheet investments.

Contributions come from signatory NECA contractors under collective bargaining agreements, typically calculated as an hourly contribution rate per covered employee. The Washington, D.C. metro region's heavy concentration of federal, data-center, and institutional construction projects provides the underlying economic base supporting these contributions. Contribution rates are negotiated through project labor agreements and multi-year collective bargaining cycles between the local and NECA.

Taft-Hartley plans typically access private markets through commingled fund commitments rather than direct co-investments or club deals, and IBEW Local 26's posture aligns with this norm. The fund's real estate holdings are partially owner-occupied operating assets rather than purely investment properties. No public evidence suggests the fund actively solicits or participates in direct co-investment transactions alongside GPs or other institutional limited partners.

Its geographic concentration in the Washington, D.C. metro area exposes the plan to a construction economy driven more by federal procurement, intelligence-community buildout, and data-center construction than by the commercial real estate cycles affecting other large union pension funds. The fund's extensive direct real estate footprint—including training centers that double as income-producing assets—and its strong secondaries tilt differentiate it from plans that run heavier public-equity allocations.

The pension operates alongside the Health Care Cost Containment Corporation of the Mid-Atlantic Region, which administers health and welfare benefits for IBEW Local 26 members, and the IBEW Local 26 Scholarship Fund, which provides educational grants. Each entity has a separate board of trustees and independent fiduciary obligations. The local also operates a federal credit union serving members and their families from its Lanham headquarters building.

As an ERISA-governed Taft-Hartley plan, the fund files Form 5500 annually with the Department of Labor, which discloses aggregate plan assets, contributions, and benefit payments. While these filings are publicly accessible through the DOL's EFAST system, the fund does not independently publish a consolidated AUM figure on its public-facing website or through press releases. The most recently filed Form 5500 provides the authoritative source for total plan assets.