IBEW Local 43

IBEW Local 43

IBEW Local 43 & Electrical Contractors Pension Fund launched in 1962 as the retirement vehicle for union electricians across several counties surrounding Syracuse, New York. The plan is a defined-benefit system managed jointly by Local 43 and the National Electrical Contractors Association's Finger Lakes Chapter. Business Manager Alan Marzullo and Plan Manager Kevin Koval administer the fund, which serves members who retire from jobsites and projects across the region. Its portfolio spans private markets exposure, filtering members' contributions into buyout funds, mezzanine financing, and secondary transactions. The fund's largest stake is tied to its own local economy: it holds a direct interest in the $100 billion Micron Technology semiconductor plant in Clay, New York, under a Project Labor Agreement that puts union electricians on the project while directing capital toward the regional infrastructure that supports it. Real estate holdings include the CNYETA Training Center at 4566 Waterhouse Road and the union hall in Syracuse. The geographic footprint concentrates on the US Northeast, though fund-of-funds commitments may diversify nationally. Total retirement assets are undisclosed, but Altss research estimates approximately $221 million under management. The fund shares governance with NECA on the pension, annuity, and welfare entities, and runs its own training center and a realty corporation holding additional commercial properties. In late 2022, Micron announced its historic Clay, NY fabrication project, securing labor participation that directly involves Local 43's members and positions the pension's investment exposure alongside one of the largest US industrial builds this decade. The fund operates as an owner-builder hybrid: it invests externally while also developing and holding the physical training and union-hall real estate its workforce occupies. Joint trusteeship with the contractors' association creates a governance structure where labor and management vote side-by-side on investment decisions — a structure that forces consensus before any allocation.