UA Local 295

UA Local 295

The Jacksonville Plumbers and Pipefitters Pension Plan serves as the retirement vehicle for members of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry, Local 295. The plan is administered through National Employee Benefits Administrators, Inc. (NEBA), based in Goodlettsville, Florida, rather than Jacksonville itself. Its benefit stream is funded through contributions negotiated by the union between signatory contractors and the local. Unlike a broadly diversified institutional fund, this pension vehicle concentrates its investment strategy almost exclusively on purchasing secondary interests in private equity and real asset funds. This creates a portfolio of already-funded, partially realized assets, a structure designed to compress the time between capital calls and distributions. The geographic scope ties back to the plan's membership, which focuses on major commercial and industrial piping projects across the Jacksonville metropolitan area and northeastern Florida. The plan does not publicly disclose its assets under management or a detailed roster of its investment committee. Governance flows through a joint board of trustees, equally representing both union and management. Its administrative office operates through NEBA, a third-party administrator for several Florida-based building-trade benefit funds. The narrow commitment to secondaries represents a structural decision likely aimed at reducing blind-pool risk for a membership base that requires steady retirement security. The plan's singular focus on secondaries differentiates it from larger state or corporate pension systems that operate as multi-strategy limited partners. By acting as a liquidity provider for other investors seeking early exits, the Jacksonville Plumbers and Pipefitters Pension Plan positions itself on the supply side of the private markets liquidity ledger, accepting a known pool of assets rather than betting on new manager vintage years.