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IBEW Local 139 Pension Plan
IBEW Local 139 Pension Plan is a multiemployer defined-benefit fund for Southern Tier electricians, overseen by Trustee Ernest A. Hartman.
IBEW Local 139 Pension Plan
The IBEW Local 139 Pension Plan was established in 1961 as a multiemployer defined-benefit plan serving union electricians in New York's Southern Tier. Ernest A. Hartman serves as Business Manager and Trustee, jointly overseeing the pension, annuity, and welfare funds alongside employer-side partner NECA. Kristine VanFleet acts as Fund Manager for the benefit plans. The fund maintains an allocation across mutual funds, real estate investments in North America, and secondaries. The plan was a plaintiff in the Madoff recovery litigation, securing a settlement as a Hartman plaintiff. The portfolio is overseen by the joint union-employer board of trustees with an investment posture that reflects its multiemployer pension obligations. Total assets are undisclosed but estimated by Altss at roughly $47 million, positioning it as a modest institutional investor. Hartman also serves on the Board of Southern Tier Economic Growth and the Southern Tier Regional Economic Development Council, linking the fund to regional economic development. The fund office operates from the union hall in Elmira. Its structure as a jointly trusteed multiemployer plan — governed by ERISA and administered via the Taft-Hartley framework — distinguishes it from single-employer corporate and public pension funds by mandating equal union and management representation on the investment committee.
General information
Firm type
Pension Fund
Year founded
1961
AUM
$30M - $75M (Altss estimate)
Location
Region
North America
Country
United States
City
Elmira
Corporate office
415 West Second Street, Elmira, NY 14901, United States
Principals
Ernest A. Hartman
Business Manager and Trustee
Kristine VanFleet
Fund Manager
Sector focus
Frequently asked questions
Who administers the IBEW Local 139 Pension Plan?
The plan is jointly trusteed by union representatives from IBEW Local 139 and employer representatives from the National Electrical Contractors Association. Ernest A. Hartman, the union's Business Manager, serves as a lead trustee on the funds. Kristine VanFleet is the Fund Manager overseeing day-to-day administration.
Is IBEW Local 139 Pension Plan a single-employer or multiemployer plan?
It is a multiemployer defined-benefit plan established in 1961 under the Taft-Hartley Act. Contributing employers bound by collective bargaining agreements with IBEW Local 139 fund the plan, which provides retirement, disability, and death benefits to participating electricians in New York's Southern Tier.
What investment allocations does the plan maintain?
Based on public records, the plan holds a diversified portfolio including mutual funds, real estate exposure in North America, and secondaries. It also received a financial recovery as a Madoff plaintiff. The board of trustees sets investment policy within ERISA guidelines.
How large is the IBEW Local 139 Pension Plan?
The plan has not publicly disclosed its total assets. Altss estimates the fund at roughly $47 million based on available Form 5500 filings and benefits obligations, placing it among smaller institutional pension funds nationally.
What was the fund's involvement in the Madoff litigation?
The IBEW Local 139 Pension Plan was a plaintiff in the Madoff recovery proceedings, identified in court filings as one of the Hartman plaintiffs. The plan secured settlement proceeds as part of the broader recovery effort led by the trustee for the Madoff estate.
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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