# Laborers Local #310 Fringe Benefit Funds

Laborers Local #310 Fringe Benefit Funds is a Pension Fund based in Cleveland, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Cleveland, United States
- **Region:** North America
- **Address:** Cleveland, OH, United States
- **Assets under management:** Undisclosed
- **Website:** local310.com

## Regulatory record

- **Reports private funds:** No

## About

The Laborers Local #310 Fringe Benefit Funds operate as the multi-employer pension and welfare vehicle for Cleveland's construction laborers, managing contributions negotiated under collective bargaining agreements for retirement, health, and training benefits. Trustees Terence P. Joyce and Thomas M. Byrne oversee plan administration, with Joyce simultaneously serving as Business Manager of Local 310 and President of the Cleveland Building and Construction Trades Council. The funds deploy capital across three asset classes: commercial real estate, construction-focused venture vehicles, and union-priority infrastructure. Real estate commitments flow through ERECT Funds — real estate construction trust vehicles that direct capital toward union-built projects. The partnership with AFL-CIO's Housing Investment Trust channels money into affordable housing developments throughout the Cleveland metropolitan area, structuring investments to satisfy both return requirements and union-labor mandates. Direct ownership includes the Local 310 Union Hall at 3250 Euclid Avenue and a training center in Cleveland. Governance sits with the union's senior officers. Joyce serves dual roles as Plan Administrator and Labor-Management leader, holding board seats at the Greater Cleveland RTA and Ohio Housing Finance Agency. Byrne manages treasury operations for both the pension and fringe benefit funds. The funds participate in industry networks including Ohio LECET — a labor-management cooperation trust — and ACT Ohio, the state's affiliated construction trades council. Philanthropic activity runs through the Jim Brown Scholarship Fund. The funds' defining structure is their dual-mandate model: fiduciary returns plus union-workforce requirements. Every real estate allocation carries a labor-standard provision requiring project labor agreements or prevailing-wage commitments, making these funds both institutional investors and direct market-makers for Cleveland's union construction economy.

## Sectors

- Real Estate
- Venture Capital
- Infrastructure

## People

- Terence P. Joyce — Business Manager, Local 310; Plan Administrator, Fringe Benefit Funds
- Thomas M. Byrne — Secretary-Treasurer, Local 310; Trustee/Treasurer, Pension and Fringe Benefit Funds
- Sean Campbell — Field Representative; Trustee, Health & Welfare Fund

## Questions

### Who makes investment decisions for Laborers Local #310 Fringe Benefit Funds?

Terence P. Joyce, as Plan Administrator and Business Manager of Local 310, holds primary governance authority over investment policy. Thomas M. Byrne serves as Trustee and Treasurer for both the pension and fringe benefit funds. The funds operate under joint labor-management trustee boards that must approve allocations, per standard Taft-Hartley multi-employer plan governance.

### How are these funds related to the AFL-CIO Housing Investment Trust?

The Laborers Local #310 funds are a co-investment partner with the AFL-CIO Housing Investment Trust (HIT), financing affordable housing projects in Cuyahoga County. HIT pools pension capital from multiple building-trades unions to fund union-constructed housing and community development projects, and Local 310's participation links its capital to this broader labor-finance infrastructure.

### What kind of real estate does the fund own directly?

Direct real estate holdings include the Building Laborers Local 310 Union Hall at 3250 Euclid Avenue in Cleveland and the union's training center. The funds also invest through ERECT Funds, real estate construction trust vehicles that target union-built commercial and industrial projects.

### Where does the capital in these funds come from?

All capital originates from employer contributions negotiated under collective bargaining agreements between Laborers Local 310 and signatory contractors in the Cleveland construction market. Contributions fund pension, health and welfare, and training benefits for union members, with investment returns supporting long-term benefit obligations.

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Updated: 2026-06-03T20:00:00.000Z

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