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International Brotherhood of Electrical Workers - Local 117
IBEW Local 117's Pension Fund was established in 1971 as a defined-benefit plan covering union electricians across northeastern Illinois. The fund operates...
International Brotherhood of Electrical Workers - Local 117
IBEW Local 117's Pension Fund was established in 1971 as a defined-benefit plan covering union electricians across northeastern Illinois. The fund operates under the Taft-Hartley framework, jointly managed by a Board of Trustees representing both the International Brotherhood of Electrical Workers Local 117 and signatory contractors of the Northeastern Illinois Chapter of the National Electrical Contractors Association. The plan provides retirement, disability, and death benefits to eligible participants, with all assets held in trust for the exclusive benefit of members and their beneficiaries. The fund's investment strategy spans private equity buyouts, secondaries, and co-investments alongside a traditional public equity and fixed-income base. While the specific general partner relationships are not publicly catalogued, the fund's participation in labor-friendly investment networks shapes its deployment approach. The fund maintains ties to the Construction Industry Services Corporation, a labor-management association that represents the unionized construction sector in Chicago and northeastern Illinois, offering a sourcing channel for infrastructure and real-asset opportunities. Geographic exposure concentrates domestically, with the fund's risk posture calibrated to meet actuarial assumptions for a mature participant base. The plan held an estimated $229 million in assets as of recent Altss analysis — a scale typical for a local union pension fund — with investment operations managed by the Board of Trustees in consultation with external consultants. The fund also maintains a physical presence through the IBEW Local 117 Union Hall at 765 Munshaw Lane in Crystal Lake, which serves as the administrative hub. Philanthropic activity flows through the CISCO Scholarship Program, which supports continuing education for members and their families. In recent periods, multi-employer pension plans nationally have faced funding pressures, though no specific distressed status has been publicly reported for Local 117. The fund's structural differentiator lies in its joint governance model. Labor and management trustees share fiduciary responsibility, a structure that requires consensus on investment policy and benefit adjustments. This shared governance, combined with connections to regional labor-management organizations like CISCO and the Better Built Network, creates a capital allocation process that must balance actuarial prudence with alignment to the unionized construction ecosystem — distinct from a single-sponsor corporate plan or a purely financial institutional investor.
General information
Firm type
Pension Fund
Year founded
1901
Location
Region
North America
Country
United States
City
Crystal Lake
Corporate office
Crystal Lake, IL, United States
Sector focus
Frequently asked questions
Who makes investment decisions at the IBEW Local 117 Pension Fund?
A Board of Trustees holds fiduciary authority over all investment decisions. The board consists of an equal number of trustees appointed by IBEW Local 117 and by signatory employers through the Northeastern Illinois Chapter of NECA. The trustees typically engage an external investment consultant to advise on asset allocation, manager selection, and performance monitoring, though the specific consultant is not publicly named.
How does the fund's Taft-Hartley structure affect its investment strategy?
As a jointly administered multi-employer plan, the fund operates under the Taft-Hartley Act, which requires equal labor and management representation on the Board of Trustees. This shared governance model means investment policy must satisfy both union and contractor fiduciaries, often leading to conservative actuarial targets and an emphasis on long-term, income-producing assets. The structure also restricts the fund's ability to unilaterally adjust benefits, making asset-liability matching particularly important.
Does the IBEW Local 117 fund make direct infrastructure or real estate investments?
The fund lists co-investments as part of its documented strategy, which suggests capacity for direct participation alongside general partners in private equity or real asset transactions. Its affiliation with the Construction Industry Services Corporation and the Better Built Network provides exposure to union-built infrastructure and commercial construction projects in the Chicago region, though specific direct holdings are not publicly disclosed.
What is the relationship between the IBEW Local 117 Pension Fund and NECA contractors?
Signatory contractors of the Northeastern Illinois Chapter of NECA contribute to the pension fund under the terms of collective bargaining agreements with IBEW Local 117. These contributions form the plan's asset base, and NECA appoints half of the Board of Trustees. The Labor-Management Cooperation Committee jointly manages the fringe benefit funds, creating a direct operational link between contractor contributions and the fund's financial health.
How does CISCO relate to the fund's investment activity?
The Construction Industry Services Corporation is a labor-management association that advocates for the unionized construction industry in Chicago and northeastern Illinois. IBEW Local 117 participates on CISCO's board, which provides access to a network of contractors, project developers, and regional infrastructure initiatives. This relationship can surface co-investment opportunities in construction-related projects, though CISCO does not manage the pension fund's assets.
Is the IBEW Local 117 Pension Fund in critical status under the Pension Protection Act?
No public filing confirms that the IBEW Local 117 Pension Fund has entered critical or endangered status under the Pension Protection Act. Many Taft-Hartley plans have faced funding challenges in recent years, and the American Rescue Plan Act of 2021 provided relief to certain multi-employer plans, but Local 117 has not appeared on publicly available lists of plans receiving special financial assistance or in critical status notices.
What role does the fund play in the Better Built Network?
The Better Built Network is a regional coalition of union construction professionals and signatory contractors. The fund's participation reflects a broader institutional commitment to promoting union apprenticeship standards and project labor agreements. While the network primarily serves business development and workforce advocacy purposes, it signals the fund's alignment with construction industry stakeholders who also contribute to the pension.
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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