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IBEW Local 701
IBEW Local 701 functions as the fiduciary and administrative hub for multiple benefit funds serving roughly 2,000 active and retired International Brotherhood...
IBEW Local 701
IBEW Local 701 functions as the fiduciary and administrative hub for multiple benefit funds serving roughly 2,000 active and retired International Brotherhood of Electrical Workers members. The plan operates from a purpose-built headquarters and training facility in Warrenville, Illinois. The local's jurisdiction sweeps across Chicago's western suburbs — a corridor of steady data-center, healthcare, and industrial construction — which shapes both its contribution base and its investment posture. The pension fund's allocation has historically leaned into commercial real estate and private credit, often through direct ownership of its own headquarters and wellness-center properties. The 28600 Bella Vista Parkway facility in Warrenville houses both union offices and a Union Wellness Center — an example of the plan using its real-asset exposure to serve members directly rather than through third-party leases. The Supplemental Unemployment Benefit Fund and Vacation Fund sit alongside the primary pension vehicle, creating a multi-trust structure that requires coordinated liquidity management. Local 701 operates in close partnership with the Northeastern Illinois Chapter of the National Electrical Contractors Association through the Joint Apprenticeship and Training Committee and PowerForward DuPage, a labor-management cooperation committee. Karyn Charvat serves as the PowerForward DuPage Executive Director and holds the private-sector co-chair seat on the Choose DuPage board of directors — a direct channel between the union's economic development agenda and regional business-attraction policy. The Meade Electric Scholarship Program adds another tie between the local's contractor relationships and its member-facing capital. The fund's structural differentiator is its vertical integration of benefit assets with workforce infrastructure: the training facility, wellness centers, and scholarship programs are both investments and member services, blurring the line between plan sponsor and plan beneficiary. For an institutional allocator, that means the pension's time horizon is tethered not just to actuarial tables but to the local union's collective-bargaining cycles and jurisdiction growth.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Warrenville
Corporate office
Warrenville, IL, United States
Sector focus
Frequently asked questions
Who governs the investment decisions at IBEW Local 701?
As a Taft-Hartley multiemployer plan, investment governance rests with a board of trustees split evenly between union and contributing-employer representatives. Day-to-day management is typically guided by the board's investment committee, with outside consultants often advising on asset allocation and manager selection. The specific named trustees and CIO are not publicly disclosed.
How are the pension assets separated from the local union's operating budget?
Federal law under ERISA mandates strict separation — Local 701's pension, SUB, and vacation funds are distinct trusts that cannot be used for union organizing, administration, or political activities. The union itself operates from member dues, while the pension assets are held in trust exclusively for participant and beneficiary interests. The board's fiduciary duty runs solely to plan participants.
Does Local 701 invest in the construction projects its members work on?
The plan's real-estate exposure includes direct ownership of the headquarters and training center at 28600 Bella Vista Parkway, Warrenville. Beyond that, allocations to the construction sector are likely limited by ERISA's prohibited-transaction rules, which restrict a plan from investing in assets that directly benefit a related party to the plan. Any real-estate fund commitments would typically be through blind-pool vehicles managed by third parties.
What is PowerForward DuPage, and how does it relate to the pension fund?
PowerForward DuPage is a labor-management cooperation committee jointly run by Local 701 and the NECA Northeastern Illinois Chapter. It promotes union electrical work and workforce development in DuPage County. While the LMCC is not a pension asset, its executive director serves on the Choose DuPage economic-development board, creating a feedback loop between regional growth, job pipeline, and the plan's contribution base.
Is Local 701 a single-employer or multiemployer plan?
It is a multiemployer plan. Multiple signatory electrical contractors contribute to the pension and benefit funds under collective-bargaining agreements negotiated between IBEW Local 701 and NECA's Northeastern Illinois Chapter. A multiemployer structure pools longevity risk across employers, but also makes the fund sensitive to contribution-base erosion if contractors withdraw.
What asset classes does the pension fund target?
Public disclosures and the fund's physical asset footprint suggest an allocation spanning commercial real estate, fixed-income/private credit, and traditional public equities. The direct ownership of the Warrenville headquarters and Union Wellness Centers indicates a comfort with direct real-asset ownership rather than fully outsourced REIT exposure. Specific target allocations are not publicly reported.
How large is the plan's participant base?
Based on public-record filings and the jurisdiction size across five Illinois counties, Local 701's combined plans serve roughly 2,000 active and retired electricians and their beneficiaries. The local's territory covers DuPage, Kane, Kendall, Will, and portions of Cook County, anchoring its contribution base in Chicago's western suburban development corridor.
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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