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IBEW Local 43 & Electrical Contractors Pension Fund
The IBEW Local 43 & Electrical Contractors Pension Fund was established as a Taft-Hartley multi-employer plan, collectively bargained between the International...
IBEW Local 43 & Electrical Contractors Pension Fund
The IBEW Local 43 & Electrical Contractors Pension Fund was established as a Taft-Hartley multi-employer plan, collectively bargained between the International Brotherhood of Electrical Workers Local 43 and the Finger Lakes Chapter of the National Electrical Contractors Association. The fund covers eligible electricians and electrical contractors across Central New York, with its administrative base in Syracuse. The fund's known investment footprint is tilted toward hard assets. Real estate commitments span industrial and mixed-use properties, including a position in a Prologis industrial vehicle and the INDURE Build-to-Core Fund, a strategy focused on ground-up development and repositioning of U.S. mixed-use real estate. Infrastructure exposure is typical for building-trades pension funds, reflecting a preference for cash-yielding assets that align with long-duration liability streams. The fund does not disclose its full portfolio composition or the breakdown between direct real estate, fund commitments, and public-market allocations. Governance rests with a board of trustees evenly split between union and employer representatives — the standard Taft-Hartley architecture. Alan Marzullo and Patrick Harrington serve as trustees alongside management counterparts from contributing NECA contractors. The International Brotherhood of Electrical Workers' national pension vehicle, the National Electrical Benefit Fund, provides an additional layer of retirement coverage for Local 43 members. The fund maintains a relationship with CNY ETA, the Electrical Training Alliance that supplies the local's apprenticeship pipeline. The structural differentiator is the multi-employer governance model itself: investment decisions must clear a labor-management board, not a single family's investment committee or a corporate finance department. This makes the fund's posture inherently conservative and income-oriented. Strategic moves require consensus between trustees representing two distinct constituencies, which tends to produce a through-cycle discipline that single-fiduciary plans can lack.
General information
Firm type
Pension Fund
Year founded
1962
Location
Region
North America
Country
United States
City
Syracuse
Corporate office
Syracuse, NY, United States
Principals
Alan Marzullo
Business Manager and Financial Secretary, IBEW Local 43; Trustee
Patrick Harrington
President, IBEW Local 43; Trustee
Sector focus
Frequently asked questions
How is this pension fund governed?
The fund is a Taft-Hartley multi-employer plan governed by a board of trustees split evenly between union representatives from IBEW Local 43 and employer representatives from the Finger Lakes Chapter of NECA. This joint governance structure requires investment, benefit, and administrative decisions to clear both sides. Alan Marzullo and Patrick Harrington are among the trustee fiduciaries as of the latest Altss research.
What is the fund's known investment strategy?
The fund does not publicly disclose a full asset allocation, but known commitments lean toward real estate and real assets. Confirmed positions include the INDURE Build-to-Core Fund, a U.S. mixed-use development vehicle, and an industrial real estate investment with Prologis. This hard-asset tilt is consistent with building-trades pension funds, which prioritize cash-yielding investments matched to their defined-benefit liability streams.
What is the relationship between this fund and the National Electrical Benefit Fund?
The National Electrical Benefit Fund is a separate national-level defined-benefit plan covering IBEW members across many locals. Local 43 participants contribute to both their local pension fund and NEBF. The two funds are independently administered but are linked through the IBEW's national collective bargaining framework.
Who contributes to the IBEW Local 43 & Electrical Contractors Pension Fund?
Contributing employers are electrical contractors bound by collective bargaining agreements with IBEW Local 43, primarily operating across Central New York. These contributions are negotiated hourly wage-packaged benefits. The Finger Lakes Chapter of NECA represents the management side of those bargaining units.
Does the fund make direct real estate investments or use external managers?
The fund's confirmed real estate exposure comes through commingled vehicles, including the INDURE Build-to-Core Fund and a Prologis industrial strategy. Whether the fund also holds directly owned properties or participates in separate accounts is not publicly disclosed. The use of fund-of-one or separate-account structures is common among mid-sized Taft-Hartley plans seeking real asset exposure.
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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