# Laborers' Local #57 Industrial Pension Fund Laborers' Local #57 Industrial Pension Fund is a Pension Fund based in Philadelphia, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Philadelphia, United States - **Region:** North America - **Address:** Philadelphia, PA, United States - **Founded:** 1962 - **Assets under management:** Undisclosed - **Website:** https://www.laborerslocal57.org - **LinkedIn:** linkedin.com/company/laborers-local-579 ## Regulatory record - **Reports private funds:** No ## About The fund covers laborers represented by Local 57 of the Laborers' International Union of North America, serving members across the Philadelphia metropolitan area. Its investment activity flows through a board of trustees that includes union officers alongside the appointed administrator. While the plan's precise AUM remains undisclosed, its footprint as an active institutional investor is documented through transactional public records and regulatory filings rather than through a central marketing presence. The fund's strategy tilts heavily toward secondaries and special situations, an uncommon concentration for a single-local Taft-Hartley plan. It has held a second-lien credit facility linked to Goodyear Tire & Rubber Company. In real estate, the plan owns the commercial property at 500–506 North 6th Street in Philadelphia, which also houses the union's headquarters. The geographic footprint concentrates in domestic US positions, consistent with most occupational pension plans of this structure. Administrator Robert J. McGinn oversees day-to-day operations, while Esteban Vera, Jr. and Stanley Sanders serve as trustees representing Local 57's membership. Vera acts as the local's business manager and Sanders as its secretary-treasurer, who also administers the 401(k) vehicle. The plan operates within the AFL-CIO framework through its affiliation with LIUNA and the Laborers' District Council of Metropolitan Philadelphia & Vicinity. Philanthropic vehicles tied to the broader union community include the Qa'id Staten Memorial Scholarship Fund and the Samuel Staten, Sr. Charitable Trust, named for the late local business manager who led the union for decades. Most Taft-Hartley plans farm out portfolio construction to consultants who blend core fixed-income with public equities. This fund's willingness to appear in second-lien and secondary-adjacent positions marks it as structurally distinct: a pension fund behaving more like a private-credit shop within the constraints of ERISA and collective-bargaining oversight. ## Sectors - Secondaries & Special Situations - Private Credit - Real Estate ## People - Robert J. McGinn — Administrator - Esteban Vera, Jr. — Business Manager of Laborers' Local 57 and Trustee - Stanley Sanders — Secretary-Treasurer of Laborers' Local 57 and 401k Administrator ## Questions ### Who controls investment decisions at the Laborers' Local #57 Industrial Pension Fund? A joint board of trustees governs the fund, composed of union-appointed representatives and employer-side trustees as required under the Taft-Hartley Act. Robert J. McGinn serves as the plan's administrator, handling execution and operational oversight. Esteban Vera, Jr. and Stanley Sanders represent the union membership as trustees, ensuring the plan remains aligned with the local's collective-bargaining obligations. ### What distinguishes this fund's investment strategy from a typical Taft-Hartley plan? Most single-local union pension plans run heavily consultant-driven portfolios weighted toward fixed income and large-cap public equities. This fund has carved a reputation for direct involvement in secondaries and private credit transactions, including holding a second-lien facility tied to Goodyear Tire & Rubber Company. The posture is more concentrated and opportunistic than the diversified-core model typical of its peer set. ### Is the real estate at 500 North 6th Street an investment asset or an operating property? The property serves as the union local's headquarters and is carried as a plan asset, making it a hybrid between an operating real estate holding and a commercial investment. This kind of direct property ownership, while common among Taft-Hartley plans, represents an additional layer of illiquid exposure beyond the financial portfolio. ### What is the relationship between the pension fund and the Samuel Staten, Sr. Charitable Trust? While the pension fund and the charitable trust are legally separate entities, they share a common origin in the Laborers' Local 57 community. The trust and the Qa'id Staten Memorial Scholarship Fund honor the legacy of the union's former leadership. Trustees of the plan often overlap with or have close ties to these philanthropic vehicles, though no commingling of pension assets with the charities is permitted. ## Related profiles - [Laborers' Local #1174](https://altss.com/profile/laborers-local-1174) - [Laborers Pension Trust Fund for Northern California](https://altss.com/profile/laborers-pension-trust-fund-for-northern-california) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/laborers-local-57-industrial-pension-fund Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology