# IBEW Local 124 Pension Trust Fund

IBEW Local 124 Pension Trust Fund is a Pension Fund based in Kansas City, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Kansas City, United States
- **Region:** North America
- **Address:** Kansas City, MO, United States
- **Founded:** 1965
- **Assets under management:** $300M - $350M (Altss estimate)
- **Website:** ibew124.org

## Regulatory record

- **Reports private funds:** No

## About

The IBEW Local 124 Pension Trust Fund was established in 1965 to provide retirement, disability, and death benefits to eligible members of Local Union No. 124 of the International Brotherhood of Electrical Workers. The fund is jointly administered with the Kansas City Chapter of the National Electrical Contractors Association (NECA), a governance structure typical of Taft-Hartley multi-employer plans. Business Manager Joseph Moreno and President Todd Howerton lead the local union's executive team. Unlike many Taft-Hartley plans that concentrate on public equities and core fixed income, Local 124's pension fund maintains a notably diversified private markets program. The strategy spans buyout, mezzanine, distressed debt, special situations, and venture capital — including early-stage seed, start-up, and late-stage expansion allocations. The fund also holds direct commercial real estate assets, including its headquarters at 305 East 103rd Terrace and a property on Ward Parkway in Kansas City. The fund-of-funds sleeve provides additional private market access. No individual portfolio company positions are publicly disclosed, which is standard for union pension plans of this size. The fund serves a defined membership base of electrical workers in the Kansas City metropolitan area. While it does not publish a breakdown of its investment staff, governance rests with a board of trustees appointed jointly by the union and NECA. Adjacent structures include the IBEW Local 124 Health & Welfare Fund, a separate trust covering medical benefits, and the IBEW Local 124 Scholarship Fund, which awards educational grants. The local also participates in regional economic development organizations, including the Wyandotte County and Lenexa Economic Development Councils, reflecting a commitment to deploying capital and influence within the Kansas City metro area. What distinguishes the IBEW Local 124 pension is its direct involvement in local commercial real estate alongside a private-markets allocation that reaches down into venture-stage and distressed strategies. Most Taft-Hartley plans of comparable size outsource alternatives exposure entirely to fund-of-funds managers or maintain simpler 60/40 portfolios. The pension's dual identity — as both a retirement fiduciary and a stakeholder in Kansas City's economic development infrastructure through its council memberships — creates a local knowledge advantage that shapes its real-asset and private-credit posture.

## Sectors

- Real Estate
- Private Credit
- Private Equity

## People

- Joseph Moreno — Business Manager
- Todd Howerton — President

## Questions

### Who administers the IBEW Local 124 Pension Trust Fund?

The fund is jointly administered by IBEW Local Union No. 124 and the Kansas City Chapter of the National Electrical Contractors Association — the standard Taft-Hartley structure for multi-employer union pension plans. Investment and benefit decisions are governed by a board of trustees representing both labor and management. Joseph Moreno serves as Business Manager and Todd Howerton as President of Local 124, giving them leadership roles over the union that sponsors the plan.

### How is the pension fund related to other IBEW Local 124 entities?

The Pension Trust Fund is one of several separate trusts administered jointly by Local 124 and NECA. A separate Health & Welfare Fund covers medical, dental, and disability benefits for members. The local also operates a Voluntary Political Fund and a Scholarship Fund. These are legally distinct entities with separate trustees and assets, though they share union and employer sponsorship.

### How long has the pension fund been in operation, and what benefits does it provide?

The fund was established in 1965 and provides defined-benefit retirement payments, disability benefits, and death benefits to eligible IBEW Local 124 members. As a defined-benefit plan, it promises a specific monthly benefit at retirement based on years of service and compensation history, with the investment portfolio bearing the longevity and market risk rather than individual participants.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/ibew-local-124

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology