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Engineers AGC Pension Plan of the Inland Empire
The Plan is a multiemployer pension vehicle jointly sponsored by the International Union of Operating Engineers Local 302 and the Associated General...
Engineers AGC Pension Plan of the Inland Empire
The Plan is a multiemployer pension vehicle jointly sponsored by the International Union of Operating Engineers Local 302 and the Associated General Contractors. It was certified as endangered under the Pension Protection Act for the 2020 plan year, compelling the Board of Trustees to adopt a Funding Improvement Plan that raised employer contributions and adjusted benefit structures. Asset management is executed through a hybrid approach spanning real estate equity and hedge funds. The real estate portfolio includes direct mixed-use holdings, while the hedge fund sleeve incorporates global tactical asset allocation strategies alongside cash management. Contributing employers such as Inland Asphalt, Waste Treatment Completion, and N A Degerstrom — each responsible for more than five percent of total contributions as of 2020 — form the contribution base that underpins deployment capacity. The plan is administered by Welfare & Pension Administration Service, Inc., with no public disclosure of internal investment headcount or total professionals. Its trust structure reflects a standard multiemployer governance model: a joint board of labor and management trustees oversees plan operations. No additional offices beyond the Mercer Island, Washington headquarters have been identified. As a multiemployer plan in endangered status, the Plan operates under statutory rehabilitation requirements rather than a discretionary investment mandate. Contribution increases and benefit reductions approved under the Funding Improvement Plan define its near-term trajectory, making its posture distinct from voluntary asset allocators — every investment decision filters through federally supervised recovery milestones.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Spokane
Corporate office
Mercer Island, WA, United States
Sector focus
Frequently asked questions
What led to the Plan being classified as endangered status?
The Plan was certified as being in endangered status for the 2020 plan year as required by the Pension Protection Act of 2006. This designation typically reflects a funded percentage below 80 percent or a projected inability to meet future benefit obligations. The specific funding shortfall triggers mandatory corrective actions, including the Funding Improvement Plan the Plan now operates under.
How does the Funding Improvement Plan affect the Plan's operations?
The Funding Improvement Plan mandates specific contribution increases from participating employers and may include prospective benefit adjustments for participants. These measures are designed to improve the Plan's funded status over a statutory timeline. All investment decisions and cash flow management are conducted within the constraints of this federally supervised rehabilitation framework.
What does the asset portfolio consist of?
The Plan holds a Real Estate Equity Portfolio with mixed-use assets and an allocation to hedge funds that includes global tactical asset allocation strategies alongside cash positions. The exact weighting between real estate, hedge funds, and liquid reserves has not been publicly disclosed. No recent commitments to private equity, venture capital, or direct co-investments have been identified.
Who administers the Plan?
Welfare & Pension Administration Service, Inc. serves as the plan administrator. The Plan is governed by a joint Board of Trustees composed of representatives from the International Union of Operating Engineers Local 302 and the Associated General Contractors. No named investment committee members or chief investment officer have been publicly identified.
Which employers contribute most significantly to the Plan?
Based on the 2020 filing, contributing employers responsible for more than five percent of total contributions include Inland Asphalt Co., Waste Treatment Completion Co., and N A Degerstrom Co. These employers form the core contribution base that sustains the Plan's asset base and liquidity profile.
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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