Updated:
IBEW Pacific Coast Pension Plan
Founded in 1960, the IBEW Pacific Coast Pension Plan is a multiemployer defined-benefit plan covering members of the International Brotherhood of Electrical...
IBEW Pacific Coast Pension Plan
Founded in 1960, the IBEW Pacific Coast Pension Plan is a multiemployer defined-benefit plan covering members of the International Brotherhood of Electrical Workers across Washington, Oregon, and Idaho. Participating locals include Local 6 in San Francisco, Local 46 in Seattle, Local 48 in Portland, Local 73 in Spokane, and Local 76 in Tacoma. The plan provides retirement, disability, and death benefits to electricians and wiremen whose collective bargaining agreements require employer contributions. Third-party administrator AW Rehn & Associates handles day-to-day operations from its San Francisco office. Despite its modest $224 million pool (Altss estimate), the fund commits capital across a strikingly broad private-markets mandate. Asset-class exposure spans buyout, distressed debt, venture capital, mezzanine, special situations, and real estate, often accessed through fund-of-funds relationships rather than direct investing. One confirmed direct real estate holding is the BGO MEPT Fund, a commercial property vehicle based in Bethesda, Maryland. The fund's venture exposure reaches from seed-stage to expansion-stage, though individual general-partner relationships remain undisclosed. The geographic footprint extends beyond the Pacific Northwest through national private-equity partnerships and property holdings in the Mid-Atlantic. The plan's defining operational event of the current era is the $211 million Special Financial Assistance grant awarded by the Pension Benefit Guaranty Corporation in February 2023. That infusion — part of the American Rescue Plan Act's relief for critically underfunded multiemployer plans — pulled the IBEW Pacific Coast fund back from projected insolvency and restored full benefits through at least 2051. Employer trustee Andy Dahlman of Aztech Electric represents contractor interests on the board, alongside union-appointed trustees drawn from participating locals. The plan's recovery trajectory means investment committee decisions now carry an unusual dual objective: generating private-market returns while maintaining sufficient liquidity as a maturing beneficiary base draws down benefits. What distinguishes the plan structurally is its emergence from PBGC rehabilitation into a fully active private-markets investor, a posture rare among small multiemployer plans. Most funds in its size class would liquidate illiquid holdings or freeze at critical status; the PBGC grant allowed the IBEW Pacific Coast plan to preserve its alternative-asset sleeve and continue capital calls. The hybrid governance — jointly administered by union and employer trustees, with day-to-day administration outsourced to a third-party firm — reflects the trust-law architecture common to Taft-Hartley plans but uncommon in the single-family or endowment investor universe most allocators compare against.
General information
Firm type
Pension Fund
Year founded
1960
Location
Region
North America
Country
United States
City
Spokane
Corporate office
Spokane, WA, United States
Principals
Andy Dahlman
Employer Trustee
Sector focus
Frequently asked questions
What is the current funding status of the IBEW Pacific Coast Pension Plan?
The plan was classified as critical and declining status prior to 2023, meaning it faced projected insolvency. In February 2023, the Pension Benefit Guaranty Corporation awarded $211 million in Special Financial Assistance under the American Rescue Plan Act. This grant is expected to maintain full benefit payments through at least 2051, effectively rescuing the plan from collapse (per PBGC, 2023).
How is the IBEW Pacific Coast Pension Plan governed?
Governance follows the standard Taft-Hartley multiemployer model: a board of trustees evenly split between union representatives from participating IBEW locals and employer representatives from contributing electrical contractors. Day-to-day administration is outsourced to AW Rehn & Associates, headquartered in San Francisco. Investment decisions are made at the trustee level, though specific delegation to an investment committee or outside consultant is not publicly detailed.
Does the fund invest directly or through external managers?
The plan uses a fund-of-funds approach for most private-market exposure, committing to external general partners rather than taking direct equity stakes in operating companies. The primary exception is real estate, where the fund holds interests in commingled vehicles like the BGO MEPT Fund — a direct property fund — rather than solely through fund-of-funds intermediaries. No direct co-investment or separate-account activity has been publicly observed.
Which IBEW locals participate in the Pacific Coast Pension Plan?
The plan covers members from multiple International Brotherhood of Electrical Workers locals across the western United States. Confirmed participating locals include Local 6 (San Francisco), Local 46 (Seattle), Local 48 (Portland), Local 73 (Spokane), and Local 76 (Tacoma). Additional smaller locals may participate through related collective bargaining agreements.
How did the PBGC grant affect the fund's investment strategy?
The $211 million PBGC grant allowed the fund to avoid forced liquidation of its illiquid private-markets portfolio — a step that many critically underfunded multiemployer plans must take. The plan retained its commitments to private equity, venture capital, distressed debt, and real estate funds. The investment posture now balances the need for long-term return generation with the liquidity demands of an aging beneficiary pool drawing benefits restored by the federal assistance.
What is the relationship between this fund and AW Rehn & Associates?
AW Rehn & Associates, based in San Francisco, serves as the third-party administrator for the IBEW Pacific Coast Pension Plan. The firm handles operational functions — contribution collection, benefit distribution, recordkeeping — under contract to the board of trustees. AW Rehn does not control investment decisions, which remain the fiduciary responsibility of the union and employer trustees.
Is there any connection to the IBEW Pacific Coast Construction Agreement or other IBEW benefit funds?
Yes — the plan is part of a broader ecosystem of IBEW-affiliated benefit funds governed under the Pacific Coast Construction Agreement. Separate entities cover health and welfare, annuity, and apprenticeship training for participating locals. The pension plan receives employer contributions specified in collective bargaining agreements negotiated between IBEW local unions and signatory electrical contractors across the Northwest and Northern California.
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.
Need institutional-grade insight on pension funds?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: