# Iron Workers Local 1

Iron Workers Local 1 is a Pension Fund based in Forest Park, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Forest Park, United States
- **Region:** North America
- **Address:** Forest Park, IL, United States
- **Assets under management:** Undisclosed
- **Website:** ironworkers1.org

## Regulatory record

- **Reports private funds:** No

## About

Iron Workers Local 1, based in Forest Park, Illinois, administers union pension and welfare benefit funds for structural iron workers in the Chicago region. The funds are overseen by a board of trustees that includes President and Business Manager John F. Gardiner and Financial Secretary-Treasurer Todd R. Villa. As a Taft-Hartley plan, the trust is jointly governed by union representatives and contributing employers via the Associated Steel Erectors of Chicago. The pension fund allocates capital across buyout strategies, real estate, and private credit. Its physical footprint is concentrated in Forest Park, where the union owns its headquarters, a training center, and a dedicated benefits office along the West Industrial Drive corridor. The fund has historically maintained a direct real asset posture, holding both the properties that house its operations and the welfare fund's investment pool. While individual limited partnership commitments are not publicly itemized, the fund's strategy reflects the typical Taft-Hartley mix of domestic buyout funds, real estate equity, and fixed-income instruments designed to meet long-term actuarial obligations. The local operates within the broader architecture of the International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers and the Chicago and Cook County Building & Construction Trades Council. It co-administers training and safety programs through IMPACT, a joint labor-management trust. The Structural Iron Workers Local No 1 Scholarship Fund extends the local's presence into philanthropic support for members' families. The fund's defining structural feature is its direct real asset ownership. Rather than leasing back its operational facilities, Iron Workers Local 1 holds the titles to its headquarters and training center, embedding a self-managed property portfolio inside a union pension structure — a configuration rare among Taft-Hartley plans that typically outsource real estate exposure entirely to fund managers.

## Sectors

- Real Estate
- Infrastructure
- Private Credit
- Buyout

## People

- John F. Gardiner — President/Business Manager
- Todd R. Villa — Financial Secretary & Treasurer

## Questions

### What types of assets does Iron Workers Local 1's pension fund invest in?

The fund allocates across buyout funds, direct real estate holdings, and private credit. Its real estate portfolio notably includes its own headquarters and training center in Forest Park, Illinois, reflecting a preference for holding physical assets directly rather than exclusively through third-party fund managers.

### Is Iron Workers Local 1 a private-sector or multi-employer pension plan?

Iron Workers Local 1 is a Taft-Hartley multi-employer pension plan. This means contributions are made by multiple signatory employers — mostly steel erection contractors in the Chicago area — under collective bargaining agreements with the union.

### How does the Iron Workers Local 1 pension fund relate to the Associated Steel Erectors of Chicago?

The Associated Steel Erectors of Chicago is the employer association that bargains on behalf of signatory contractors and appoints employer trustees to the funds. This joint governance structure means the pension and annuity trusts are administered by a board split evenly between union and employer representatives.

### Does Iron Workers Local 1 maintain any dedicated real estate facilities outside of its pension investments?

Yes. Local 1 owns its headquarters at 7720 West Industrial Drive, a training center at 7740 Industrial Drive, and a benefits office at 7700 West Industrial Drive — all in Forest Park, Illinois. These are held as union or fund assets rather than leased spaces.

## Related profiles

- [Iron Workers District Council, Philadelphia & Vicinity](https://altss.com/profile/iron-workers-district-council-philadelphia-vicinity)
- [Iron Workers Local 16](https://altss.com/profile/iron-workers-local-16)

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Last updated: 2026-06-03T20:00:00.000Z

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