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IBEW Local 43 & Electrical Contractors Pension Fund
The IBEW Local 43 & Electrical Contractors Pension Fund operates as a jointly trusteed multiemployer defined-benefit plan based in Syracuse, New York.
IBEW Local 43 & Electrical Contractors Pension Fund
The IBEW Local 43 & Electrical Contractors Pension Fund operates as a jointly trusteed multiemployer defined-benefit plan based in Syracuse, New York. Its assets are built entirely from hourly contributions negotiated by IBEW Local 43 and the Finger Lakes Chapter of the National Electrical Contractors Association (NECA). Trustees including Business Manager Alan Marzullo and union president Patrick Harrington govern the fund under the Labor-Management Relations Act, a structure that separates this vehicle from corporate or public pensions by requiring equal union and employer board representation. Real estate constitutes a visible allocation, with confirmed institutional positions in Prologis industrial properties and a commitment to the INDURE Build-to-Core Fund, a vehicle targeting mixed-use development. The fund also participates in the National Electrical Benefit Fund (NEBF), a nationwide defined-contribution plan providing an additional layer of retirement savings for all participating IBEW members. Investment strategy reflects the long-duration liability profile typical of a mature building-trades pension: income-producing property, institutional real estate fund commitments, and pooled national benefit infrastructure. The fund serves eligible electricians and wiremen across Central New York's IBEW Local 43 jurisdiction — a membership base whose retirement horizon spans decades rather than market cycles. The Electrical Training Alliance (CNY ETA) maintains a presence alongside the fund to cultivate the workforce that sustains the plan's contribution base. Unlike publicly scrutinized state pension systems, this fund operates as a private trust governed jointly by labor and management. Every investment decision must pass a board split evenly between union appointees and contractor association appointees — a negotiation dynamic embedded in the plan's governance DNA that prevents unilateral allocation shifts and structurally anchors a conservative, cash-flow-oriented portfolio.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Syracuse
Corporate office
Syracuse, NY, United States
Principals
Alan Marzullo
Business Manager and Financial Secretary of IBEW Local 43
Patrick Harrington
President of IBEW Local 43
Sector focus
Frequently asked questions
Who administers the IBEW Local 43 & Electrical Contractors Pension Fund?
The fund is jointly trusteed — managed by a board split equally between appointees from IBEW Local 43 and the Finger Lakes chapter of the National Electrical Contractors Association (NECA). Alan Marzullo, Business Manager and Financial Secretary of Local 43, and union president Patrick Harrington serve as trustees. This 50-50 labor-management governance structure is mandated under the Taft-Hartley Act for multiemployer plans.
How is the fund capitalized?
Contributions come from signatory electrical contractors who pay into the plan at a negotiated hourly rate for every hour worked by a covered IBEW Local 43 member. There are no employee contributions deducted from paychecks — the benefit is entirely employer-funded under terms set in collective bargaining agreements between the local union and NECA contractors.
What type of real estate exposure does the fund carry?
Public records show the fund holds positions in at least two real estate vehicles: a direct investment in Prologis, the global industrial REIT, and a commitment to the INDURE Build-to-Core Fund, which targets mixed-use development properties. These allocations suggest a focus on income-generating property and institutional fund vehicles rather than speculative development.
Is this fund part of the National Electrical Benefit Fund (NEBF)?
IBEW Local 43 members participate in the NEBF as a separate layer of retirement savings, but the NEBF is a distinct national defined-contribution plan. The Local 43 & Electrical Contractors Pension Fund is the locally trusteed defined-benefit plan specific to Central New York's Local 43 jurisdiction. The two operate independently but serve overlapping member populations.
What is the fund's relationship with the Electrical Training Alliance?
The Central New York Electrical Training Alliance (CNY ETA) runs the apprenticeship and continuing-education programs for Local 43 electricians. While legally separate from the pension fund, the training center shares trustees and a mission to sustain a skilled workforce whose future retirement benefits depend on the pension plan's long-term health.
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