IBEW Local 150 Supplemental Pension Fund

IBEW Local 150 Supplemental Pension Fund

The IBEW Local 150 Supplemental Pension Fund was formed through collective bargaining between the International Brotherhood of Electrical Workers Local 150 and the National Electrical Contractors Association (NECA). It operates as a labor-management trust, one of several benefit plans administered by the IBEW Local Union 150 Benefits Fund. Chairman Steve Smart and Secretary/Treasurer Jeff Harger oversee the Board of Trustees alongside President Joe Catella. The fund's investment strategy incorporates a multi-asset approach weighted toward inflation-sensitive holdings. Known allocations include the IBEW 150 Core Fund Real Estate Allocation, a mixed-use property vehicle, and the IBEW 150 Core Fund - Real Return Assets portfolio. Geographic deployment concentrates on US-based holdings, consistent with the fund's mandate to serve members located primarily across Northern Illinois. The plan defines benefit eligibility through its governing instruments, administered from a Fund Office in Lexington, Kentucky. The Board of Trustees governs the fund jointly with NECA through a Labor-Management Committee. This structure embeds employer and union oversight into every fiduciary decision. The fund maintains professional affiliations through the IBEW International's relationship with the AFL-CIO and participates in the industry's Joint Apprenticeship and Training Committee (JATC) alongside the union and NECA. The Supplemental Pension Fund is distinguished by its dual governance architecture — a structure shared across Taft-Hartley pension plans — where union trustees and contributing employer trustees co-administer the plan. This model creates an unusual alignment mechanism: investment decisions and benefit determinations are subject to a committee vote requiring consensus across labor and management representatives.