Laborers Local 108

Laborers Local 108

Laborers Local 108 was founded in 1957 as a New York City local of the Laborers' International Union of North America (LIUNA). Its defined-benefit pension plan covers eligible members who work in construction, demolition, and related trades across the five boroughs. The plan provides retirement, disability, and death benefits to participants, operating as a multiemployer trust governed jointly by union and contributing employer trustees. The fund's investment strategy is concentrated in natural resources and real estate, reflecting the building trades membership it serves. Known positions include holdings in the ARA Core Property Fund, a diversified core real estate vehicle. Asset management is handled through the plan's trustee structure rather than an internal investment staff, with fiduciary oversight from the joint board. The geographic footprint is entirely domestic, anchored in New York metropolitan area properties and funds. Total plan assets are estimated at $13 million, making this one of the smaller multiemployer plans in the region. The fund maintains ties to the Mason Tenders District Council of Greater New York, which coordinates union activities for Local 108 and other area locals. Former Business Manager Mike Hellstrom now serves as LIUNA Vice President and Eastern Region Manager, linking the local to the international union's broader governance. A related vehicle, the Greater New York Laborers-Employers Cooperation and Education Trust (LECET), pursues joint union-management initiatives. The plan's structural differentiator is its embeddedness within a labor ecosystem that explicitly ties asset allocation to union priorities. Rather than chasing market-rate returns across asset classes, the fund channels capital into real estate vehicles that mandate union labor — a model where fiduciary duty and member employment objectives are deliberately aligned. The philanthropic arm, Tenders Inc., extends this mission beyond pension management.