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Joint Pension Fund of Local Union No. 102
The Joint Pension Fund of Local Union No. 102 was established in 1958 to serve IBEW Local 102 members. Bernie Corrigan acts as president and trustee while...
Joint Pension Fund of Local Union No. 102
The Joint Pension Fund of Local Union No. 102 was established in 1958 to serve IBEW Local 102 members. Bernie Corrigan acts as president and trustee while Patrick Delle Cava serves as business manager. The plan supplies retirement, disability, and death benefits under a multiemployer structure. Asset allocation shows 55.32 percent in public equities and 35.41 percent in fixed income. Real estate accounts for 2.93 percent and private equity for 1.51 percent. External managers include JP Morgan Investment Management, Wellington Management, Invesco, Times Square Capital Management, and Kennedy Capital Management. The fund maintains a headquarters and training center in Parsippany, New Jersey. The fund participates in the NECA National Convention and sponsors the IBEW Local 102 Annual Motorcycle Run for charitable causes. It maintains relationships with the New Jersey Business & Industry Association and Choose New Jersey. Related philanthropic vehicles include the IBEW Founders' Scholarship Program and the IBEW Local 102 Community Service Fund.
General information
Firm type
Pension Fund
Year founded
1958
Location
Region
North America
Country
United States
City
Parsippany
Corporate office
830 Bear Tavern Road, Parsippany, NJ 08628, United States
Principals
Bernie Corrigan
President and Trustee
Patrick Delle Cava
Business Manager
Sector focus
Frequently asked questions
Who runs investment decisions at Joint Pension Fund of Local Union No. 102?
Bernie Corrigan serves as president and trustee. Patrick Delle Cava acts as business manager. External managers handle day-to-day portfolio execution.
Does Joint Pension Fund of Local Union No. 102 participate in fund commitments or only direct deals?
The fund commits to external managers through vehicles such as JP Morgan Investment Management and Wellington Management. It also holds direct real estate assets including its headquarters and training center.
What asset classes does Joint Pension Fund of Local Union No. 102 hold?
Public equities represent 55.32 percent of assets. Fixed income accounts for 35.41 percent. Real estate and private equity make up the balance at 2.93 percent and 1.51 percent respectively.
Where does the underlying wealth come from?
Contributions come from IBEW Local 102 members and their employers under a multiemployer defined-benefit arrangement.
Does Joint Pension Fund of Local Union No. 102 maintain philanthropic structures?
Yes. The IBEW Founders' Scholarship Program and IBEW Local 102 Community Service Fund support education and health initiatives in New Jersey.
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