Intermountain Ironworkers Pension Trust

Intermountain Ironworkers Pension Trust

The Intermountain Ironworkers Pension Trust is a defined-benefit pension plan serving members of Ironworkers Local Union No. 27 and other participating locals in the Intermountain region. Established as a Taft-Hartley multi-employer fund, it collects negotiated hourly contributions from union-signatory contractors rather than a single corporate sponsor. Doug Thomas serves as the Plan Administrator, overseeing the trust's operations and regulatory compliance. Day-to-day administration is managed by BeneSys Administrators, a third-party firm specializing in Taft-Hartley benefit plans, with Lee Centrone acting as the plan manager. The trust's investment portfolio is structured to meet long-term pension liabilities and is allocated across three main vehicle types: common and collective trusts, registered investment companies, and pooled separate accounts. All investments are US-domiciled. The fund does not publish detailed portfolio holdings or a specific asset-allocation policy, but regulatory filings confirm the use of diversified pooled vehicles — a standard approach for mid-sized multi-employer plans seeking cost-efficient exposure. Like most Taft-Hartley plans, the investment program is overseen by a joint Board of Trustees representing both Ironworkers union officials and representatives from contributing contractor associations. The trust operates alongside two related benefit vehicles for the same membership base: the Ironworkers Intermountain Health & Welfare Trust, which provides medical and ancillary benefits, and the Intermountain Ironworkers Tax Deferral Plan, a defined-contribution 401(k) arrangement. Together, these three entities form a coordinated benefits package funded through collectively bargained employer contributions. The administrative hub for all three is accessed through the Our Benefit Office portal, a web platform maintained by BeneSys that gives participants real-time access to plan documents, benefit calculators, and contact information. The defining structural element of the Intermountain Ironworkers Pension Trust is its multi-employer pooled governance. Unlike a corporate pension, investment and benefit decisions are made jointly by union and management trustees under ERISA and Taft-Hartley fiduciary rules. This architecture spreads risk across dozens of contributing employers and makes the trust less sensitive to any single contractor's financial health.