FELRA & UCFW Pension Plan

FELRA & UCFW Pension Plan

The FELRA & UCFW Pension Plan operates as a jointly-trusteed multiemployer defined-benefit plan, sponsored by the Food Employers Labor Relations Association and affiliated locals of the United Food and Commercial Workers International Union. Major contributing employers include Giant Food and Safeway. The plan's governance is split between employer-designated trustees and union-designated trustees, whose appointments are public record. Investment strategy focuses on capital preservation and income generation typical of a mature multiemployer pension plan. Disclosed holdings include a global mixed-use real assets vehicle. The plan received Special Financial Assistance from the Pension Benefit Guaranty Corporation, a federal program designed to shore up troubled multiemployer plans, indicating prior funding challenges. Exposure spans real estate and likely fixed-income and public equities, though granular asset-class breakdowns are not publicly disclosed. The plan is administered from Sparks, Maryland. It participates in the Health Care Cost Containment Corporation of the Mid-Atlantic Region for collective healthcare bargaining. The Special Financial Assistance allocation, received under the American Rescue Plan Act, constitutes a significant liquidity event, expected to sustain full benefit payments through at least 2051. What distinguishes this plan structurally is its status as a PBGC Special Financial Assistance recipient, a cohort of roughly 200 multiemployer plans receiving federal backstops. This assistance effectively shifts a portion of the plan's longevity risk to the federal government, altering the typical actuarial liability profile and permitting a slightly different investment posture than a purely self-funded multiemployer plan. Its union-employer governance structure remains the dominant operational framework.