Florida UBC Supplemental Pension Plan

Florida UBC Supplemental Pension Plan

The Florida UBC Supplemental Pension Plan was established in 1962 to provide supplemental retirement benefits to eligible members of the United Brotherhood of Carpenters and Joiners of America in Florida. James Banks serves as Chairman and Trustee of the plan. The fund is closely tied to the Florida Carpenters Regional Council, an affiliated local union network, and operates alongside the Florida UBC Health Fund, a related multi-employer benefit plan also established in 1962. The plan's documented investment strategy includes fund-of-funds commitments, secondary market transactions, and direct timber holdings. Its directly held real assets include a position in Property Fund I, LP, a Florida-based commercial real estate vehicle. Asset-class coverage spans real estate and timberland, with a secondary-market sleeve suggesting an opportunistic approach to portfolio construction. The plan has historically invested in funds rather than direct operating-company stakes. The plan's investment pool is estimated by Altss at under $50 million, placing it among the smaller Taft-Hartley defined contribution plans. It maintained offices in Goodlettsville, Tennessee. Legal counsel Jay Thomas Youngdahl has represented the fund in ERISA-related litigation. In June 2024, the plan merged into the Southern District UBC Defined Contribution Fund, which absorbed its assets and ongoing obligations. As a Taft-Hartley multi-employer plan, the Florida UBC Supplemental Pension Plan operated under a joint union-management trustee model governed by ERISA. Its structural distinction lies in its narrow scope — a supplemental plan designed to layer additional retirement benefits atop the primary union pension, a design that became less common as multi-employer plans consolidated. The June 2024 merger into the Southern District fund reflects the broader trend of small-plan consolidation within the UBC network.