# Electrical Workers (IBEW) Local #43 & Electrical Contractors Pension Fund Electrical Workers (IBEW) Local #43 & Electrical Contractors Pension Fund is a Pension Fund based in Clay, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Clay, United States - **Region:** North America - **Address:** Clay, NY, United States - **Assets under management:** Undisclosed; estimated USD 200M–300M (Altss estimate) - **Website:** ibewlu43.org ## Regulatory record - **Reports private funds:** No ## About IBEW Local 43's pension fund serves the electricians and electrical contractors of Central and Northern New York. Alan Marzullo, its longtime Business Manager and Financial Secretary, co-administers the assets alongside NECA chapter representatives and a board of trustees drawn from both labor and management. The arrangement — joint labor-management trusteeship — is the default architecture for Taft-Hartley multiemployer funds and shapes every allocation decision: liability-driven, income-focused, and legally constrained from the kind of growth-equity or venture bets a single-family office might make. The fund's deployment sits almost entirely in real estate and local infrastructure. Confirmed real-asset holdings include the union hall and training center at 4568 Waterhouse Road and the adjacent CNY Electrical Training Alliance facility — properties that serve the dual purpose of union operations and long-term income generation. A separate portfolio of pension fund real estate assets is held across the Syracuse metro area. The investment approach relies on traditional buyout structures for property acquisition, while a portion of capital stays in general fund accounts for near-term benefit obligations. There is no evidence of public-equity or hedge-fund mandates; the footprint is physical, regional, and tied to what the trustees can see and understand. The fund's influence runs through the region's construction economy. The September 2023 announcement of Micron's Clay semiconductor complex placed Local 43 at the center of Upstate New York's largest industrial buildout. Under a Project Labor Agreement with Micron Technology, the union — and by extension its pension and welfare funds — anchors the labor supply for a campus expected to require thousands of electricians over two decades. The fund also participates in regional economic development through CenterState CEO and the Central and Northern New York Building and Construction Trades Council, channels that bring deal-sharing, co-investment discussion, and political intelligence on zoning and incentives. What distinguishes Local 43's structure is not its asset allocation — standard Taft-Hartley fare — but its embeddedness in a single mega-project. Most small union pension funds invest in diversified real estate pools and never see their own members' labor directly generate the value of an adjacent commercial corridor. The Micron PLA effectively links the fund's long-term health to a single concentrated bet on semiconductor construction demand in Upstate New York, a wager few peers of this size would make, and one the trustees did not design but now cannot avoid. ## Sectors - Real Estate - Infrastructure ## People - Alan Marzullo — Business Manager / Financial Secretary - Patrick Harrington — President ## Questions ### Who controls investment decisions at the IBEW Local 43 pension fund? A joint board of trustees — half appointed by IBEW Local 43 and half by the National Electrical Contractors Association (NECA) chapter — governs the fund. Alan Marzullo, as Business Manager and Financial Secretary, is the senior labor-side trustee. This Taft-Hartley shared-governance model means no single individual or family drives allocation; investment policy is negotiated biennially through collective bargaining. ### How does the Micron project affect the pension fund? The September 2023 Project Labor Agreement with Micron Technology guarantees IBEW Local 43 electricians a dominant role in wiring the $100 billion Clay campus. For the pension fund, that means decades of steady employer contributions flowing in as thousands of members work the site — a demographic tailwind that reduces the need to sell assets to meet current beneficiaries. The concentration risk is the other side: the fund's contribution base now leans heavily on a single employer project in a cyclical chip industry. ### What is the relationship between the pension fund and the CNY Electrical Training Alliance? The training alliance operates from a facility adjacent to the union hall at 4566 Waterhouse Road in Clay — owned by the broader asset pool that includes the pension fund. It supplies the skilled labor pipeline that generates the employer contributions feeding the fund. The two entities are legally separate but economically linked: the training center produces the electricians, the pension fund invests the contributions their work generates. ### Who are the union's known business partners beyond Micron? The National Electrical Contractors Association is the fund's co-sponsor and governance partner. The local also maintains relationships with the Syracuse Crunch AHL hockey team through community charitable drives and with CenterState CEO, the regional economic development organization that brokers introductions to commercial developers sourcing union labor. These relationships occasionally surface co-investment or board-seat opportunities for pension fund trustees. ## Related profiles - [Micky and Madeleine Arison Family Foundation](https://altss.com/profile/micky-and-madeleine-arison-family-foundation) - [IBEW Local 43](https://altss.com/profile/ibew-local-43) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/electrical-workers-ibew-local-43-electrical-contractors-ibew Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology