IATSE Local 720

The NRA-IATSE Local 720 Retirement Plan is governed by a joint board of trustees split evenly between union-appointed and employer-appointed representatives. The union-side trustees are led by the Local 720 executive board under President Phil Jaynes, while the employer-side trustees are drawn from Nevada Resort Association member properties. All investment policy decisions require consensus between both trustee classes, consistent with the Labor Management Relations Act framework that defines Taft-Hartley plan governance.

Unlike building-trades pensions funded by linear construction project cycles, Local 720's contribution base fluctuates with Las Vegas's show residency calendar, convention seasonality, and special events. A residency closure or a weak convention quarter directly reduces contribution hours. The plan's liability stream is similarly lumpy, with retirement waves often clustering around show closures or union contract cycles. This makes liquidity planning — particularly around private market commitment pacing — structurally more complex than for a plan with steady monthly hour contributions.

All three trusts — retirement, training, and wage disability — are jointly governed by IATSE Local 720 and the Nevada Resort Association under shared trusteeship. They are legally separate pools with distinct funding streams drawn from the same collective bargaining agreements but different contribution line items. The training trust finances skill certifications and safety programs at the Rancho Drive training center, while the disability trust provides wage replacement for members unable to work due to injury. Contribution rate negotiations for all three pools happen simultaneously during master agreement bargaining.

The largest contributors are Las Vegas Strip resort operators and entertainment venues that hold collective bargaining agreements with the local. Sphere Entertainment Co. has become a significant contributor since its venue opening in 2023, joining legacy employers like Caesars Entertainment. The Nevada Resort Association negotiates master agreements that bind most major hotel-casino properties, while standalone venues and convention facilities often operate under site-specific agreements that mirror the master terms.

The plan holds interests in the Local 720 Union Hall, a commercial property on South Valley View Boulevard that serves dual purposes as an operating asset and headquarters. The training center on Rancho Drive is held through the training trust rather than the retirement plan directly. While the retirement plan allocates to real estate as an asset class, its known directly held properties are primarily operating assets serving the membership base rather than purely investment-oriented commercial real estate. The investment portfolio's real estate exposure beyond these operational properties is managed through commingled fund commitments rather than direct property acquisitions.

Local 720 is an autonomous local union within the International Alliance of Theatrical Stage Employees. The international sets jurisdictional standards and provides bargaining support, but the Local 720 pension fund is independently operated under its own joint trusteeship. Marielle Thorne serves as both the local's Business Representative and an IATSE International Vice President, creating a direct governance link between the local's benefit funds and the international's leadership. The international does not exert investment authority over the local's retirement plan, which remains governed by its joint board under the plan documents.

The NRA-IATSE Local 720 Retirement Plan does not publicly disclose its assets under management or funded ratio through a public-facing website. As a private-sector multi-employer plan, it files annual Form 5500 returns with the Department of Labor that include total assets, liabilities, and contribution totals. Those filings are the primary source for third-party estimates of the plan's size and health. The plan's refusal to publish unaudited interim figures publicly is consistent with most Taft-Hartley funds that restrict financial disclosures to regulators and plan participants.