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International Brotherhood of Teamsters Local 710
Teamsters Local 710 operates as a Taft-Hartley multiemployer pension plan, negotiated through collective bargaining agreements covering thousands of...
International Brotherhood of Teamsters Local 710
Teamsters Local 710 operates as a Taft-Hartley multiemployer pension plan, negotiated through collective bargaining agreements covering thousands of union-represented employees in freight, warehouse, and distribution sectors. The fund's trustee leadership, including Secretary-Treasurer Michael J. Cales and President Delmar R. Schaefer, oversees the retirement security of members affiliated with the International Brotherhood of Teamsters. Local 710 represents a broad base of logistics workers concentrated in the Chicago metropolitan area, with operations extending across Illinois and into Indiana. The fund constructs its investment portfolio primarily through allocations to private equity buyout strategies, reflecting a traditional union pension approach of committing to institutional fund partnerships for long-duration, illiquid returns. Public record indicates a focus on lower- to middle-market buyout vehicles, typical for union plans seeking yield generation beyond public equity beta to meet actuarial assumptions. The fund's assets include a directly owned commercial property — the union hall and pension office at 9000 West 187th Street in Mokena — alongside externally managed limited partnership interests. Beyond its mandate, Local 710 participates actively within the regional labor governance framework, maintaining delegates to the Chicago Federation of Labor and providing leadership to the Chicago Teamsters Hispanic Caucus, where Recording Secretary Michael Ramirez holds an executive role. The fund also operates a scholarship program for members' families. While specific AUM or deployment figures are not publicly disclosed, the scale implied by its multiemployer structure and full-time officer headcount is consistent with a plan in the mid- to upper-hundred-million-dollar range. The structural differentiator of the Local 710 pension is its resilience as a legacy multiemployer plan in a consolidating industry. Taft-Hartley funds face unique regulatory constraints under the Pension Protection Act and are subject to zone-status classifications, which crucially affect their ability to take on new commitments or require rehabilitation plans — making the fund's governance and funding condition the central allocator question beyond simple asset allocation.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Mokena
Corporate office
9000 West 187th Street, Mokena, IL 60448
Principals
Michael J. Cales
Secretary-Treasurer
Delmar R. Schaefer
President
Michael Ramirez
Recording Secretary
Sector focus
Frequently asked questions
Who runs investment decisions at Teamsters Local 710?
Investment decisions and fiduciary oversight rest with the Board of Trustees, which is co-chaired by union-appointed and employer-appointed trustees. Key union officials named in the fund's governance structure include Secretary-Treasurer Michael J. Cales, who acts as the principal officer, and President Delmar R. Schaefer. Outside investment consultants typically provide advisory and due-diligence support, though specific consultancy mandates are not publicly disclosed.
What is the current funded status or zone designation of the Local 710 pension plan?
The fund's zone status under the Pension Protection Act is not publicly disclosed in readily available form, but Taft-Hartley plans of this type file annual Form 5500s with detailed actuary reports. Allocators considering secondary or co-investment opportunities alongside the fund should request the latest annual funding notice, which color-codes the plan's position in a green, yellow, or red zone, directly dictating the scope of permissible investment committee actions.
Does Teamsters Local 710 invest directly in companies or only through funds?
The fund's disclosed strategy is characterized strictly as 'Buyout,' indicating an almost exclusive commitment to private equity fund partnerships rather than direct co-investments or internally managed portfolios. Taft-Hartley plans often use a fund-of-funds or discretionary consultant model to access buyout exposure, a pattern consistent with Local 710's structural profile.
How is Teamsters Local 710 related to the International Brotherhood of Teamsters?
Local 710 is a chartered local union affiliated with the International Brotherhood of Teamsters, the parent international organization. While the local maintains its own collective bargaining agreements and pension fund governance, it operates under the jurisdiction of the international union and is part of the broader Teamsters Joint Council 25 network in the Chicago region, which coordinates regional bargaining and policy.
What philanthropic structures does Teamsters Local 710 maintain?
The local runs the Teamsters Local 710 Scholarship Fund, which provides educational grants to dependents of union members. This fund is separate from the retirement trust assets and is administered under standard union-member benefit program governance, not as an investment allocation of the pension plan.
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