IUOE LOCAL 295-295B,C PENSION FUND

IUOE LOCAL 295-295B,C PENSION FUND

The fund was established in 1964 to provide retirement security for members of the International Union of Operating Engineers Local 295, which received its original charter in 1958 and moved its headquarters to Maspeth, Queens in 1993. The union represents stationary engineers who service and maintain air conditioning, refrigeration, and building systems in commercial and industrial facilities throughout the New York metropolitan area. The fund's investment strategy mirrors the conservative, liability-driven approach typical of small Taft-Hartley multi-employer plans. While specific asset allocations and manager lineups are not publicly disclosed, the plan's primary obligation is to deliver defined-benefit pension payments to a membership concentrated in the skilled building trades. The fund is part of a broader benefits ecosystem that includes affiliated welfare, annuity, and 401(k) funds, along with a Joint Education Fund that provides member training. Geographic exposure is anchored in New York and Connecticut, where the bulk of plan participants live and work. With an estimated $63 million in assets, the fund operates with a lean governance structure typical of its peer set, with day-to-day administration handled through the union's offices at 61-04 Maurice Avenue. No recent publicly reported investment events, manager searches, or allocation changes are observable, which is consistent with the low-profile, steady-state nature of many plans in this segment. Structurally, the fund's defining characteristic is its embeddedness within a union that negotiates collective bargaining agreements. This creates a direct feedback loop between plan health and labor negotiations — an architecture that distinguishes multi-employer plans like this one from corporate or public pension funds, where the sponsor's relationship to beneficiaries is more arm's-length.