I.B.E.W. Local 490 Pension Fund

I.B.E.W. Local 490 Pension Fund

The I.B.E.W. Local 490 Pension Fund was established in 1964 as a non-contributory, defined-benefit plan for International Brotherhood of Electrical Workers members in New Hampshire. Eric Batchelor serves as Business Manager and a member-representative trustee, with Joshua Warmoth as President and trustee for the members. Three employer representatives — Kristen Gowen, Steve Scarponi, and Scott Marquis — sit opposite them, reflecting the multi-employer benefit plan model administered jointly with the National Electrical Contractors Association (NECA). Investment management spans two identifiable mandates: a dedicated natural resources strategy and a hedge fund portfolio. Specific underlying managers, fund names, and allocation sizes are not publicly disclosed. The fund's asset base supports retirement, disability, and death benefits for a closed universe of local electrical workers. Union hall and training center operations at 48 Airport Road in Concord, NH, sit alongside the financial assets in the broader IBEW Local 490 ecosystem. The fund operates from a single location in Concord and is administered day-to-day by Treasurer Jim Lukeman. Connected entities include the IBEW Local 490 PAC Fund, which handles political contributions. No recent filings or press releases document a change in investment posture, fund closings, or mandate shifts within the last 24 months — the most observable operational footprint remains the sustained joint-trustee governance structure and the physical real estate holdings in Concord. Structurally, the fund differs from most pension investors because it is a joint labor-management trust rather than a public or corporate plan. Six trustees — split evenly between union and NECA employer representatives — must align on investment decisions. This parity-based governance model, baked into the Electrical Local's multi-employer bargaining framework, imposes a consensus requirement uncommon among single-sponsor plans.