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International Brotherhood of Electrical Workers Local No. 150 Fringe Benefit Funds
The fund was established in 1956 to provide retirement, disability, and death benefits to members of the International Brotherhood of Electrical Workers...
International Brotherhood of Electrical Workers Local No. 150 Fringe Benefit Funds
The fund was established in 1956 to provide retirement, disability, and death benefits to members of the International Brotherhood of Electrical Workers Local 150, a labor union representing electricians across northeastern Illinois. It operates as a defined-benefit plan under jointly-trusteed Taft-Hartley governance, with trustees drawn from both the union and the National Electrical Contractors Association, the employer group that bargains on behalf of signatory contractors. The plan's investment portfolio extends beyond traditional fixed-income and equity allocations into a deliberate alternatives program. Manager commitments span private credit, venture capital, buyout, mezzanine, and secondaries strategies. While specific fund names remain undisclosed, the plan's real estate allocation includes the IBEW Local 150 Building Corp, a commercial property at 31290 N. US Highway 45 in Libertyville, Illinois. Capital is deployed across multiple stages, from seed and startup to expansion and late-stage venture. Trustees Ted Disabato, Robert Merrick, Howard Simon, and Kyle Weaver govern the plan. Administrative operations run from a fund office at 230 Lexington Green Circle in Lexington, Kentucky, while the union's historical base remains in Lansing, Michigan. The plan is affiliated with the national AFL-CIO labor network. It does not publicly disclose its external manager roster or the specific scale of each alternative sleeve. The fund's structural distinction lies in its Taft-Hartley composition: assets are collectively bargained contributions from signatory electrical contractors, not public tax receipts or a single corporate sponsor. That governance model creates a board-level negotiation dynamic where investment decisions must reflect interests of both union labor and the contributing employers, shaping a conservative-liability-driven posture with targeted alternatives exposure to meet long-term benefit obligations.
General information
Firm type
Pension Fund
Year founded
1956
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Lansing
Corporate office
Lansing, MI, United States
Additional offices
Lexington, KY, United States
Principals
Robert Merrick
Trustee and Administrative Office Primary Contact
Ted Disabato
Trustee
Howard Simon
Trustee
Kyle Weaver
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at IBEW Local 150 Fringe Benefit Funds?
Investment governance falls to a board of trustees composed of union and employer representatives. Named trustees include Ted Disabato, Robert Merrick, Howard Simon, and Kyle Weaver. The trustees jointly oversee asset allocation and manager selection, though day-to-day investment management is handled externally through undisclosed fund managers and advisors.
How does the fund's Taft-Hartley structure shape its investment strategy?
As a jointly-trusteed multi-employer plan, assets originate from employer contributions negotiated under collective bargaining agreements with the National Electrical Contractors Association. That dual-representation governance — union trustees alongside management trustees — typically produces a more conservative-liability-aware portfolio than a single-sponsor corporate plan. Alternatives allocations exist but serve the plan's long-term benefit obligations rather than aggressive growth targets.
Does the fund participate in fund commitments or only direct deals?
The plan invests primarily through external fund commitments rather than direct company investments. Its strategy range includes buyout, venture capital, mezzanine, secondaries, and private credit funds. The IBEW Local 150 Building Corp represents a rare direct real estate holding, owning commercial property in Libertyville, Illinois.
What investment stages does the fund typically target?
The plan's alternatives program spans the full lifecycle: seed-stage venture, startup equity, expansion and late-stage growth equity, buyout, mezzanine lending, and secondaries interests. This multi-stage approach suggests a diversified alternatives portfolio rather than a concentrated stage-specific strategy.
How is the fund related to the national IBEW and AFL-CIO networks?
IBEW Local 150 is a chartered local union of the International Brotherhood of Electrical Workers, which is itself an affiliate of the national AFL-CIO labor federation. While the pension fund serves Local 150 members and operates under its own Taft-Hartley trust, it participates in the broader labor movement network that includes trustee relationships, shared investment consultants, and affiliation-based professional organizations.
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