Local 272 Welfare and Pension Fund

Local 272 Welfare and Pension Fund

The Local 272 Welfare and Pension Fund has served as the retirement and health safety net for Miami's ironworking union members since 1964. Established under the Taft-Hartley Act framework, the fund pools contributions from multiple signatory contractors, including ADF International, whose employer trustee Alexander Bergel sits on the board. The plan covers active and retired members of Ironworkers Local 272, the labor organization chartered by the International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers. Asset allocation skews tangible, consistent with multi-employer plans of this size. The fund carries a core real estate strategy focused on mixed-use properties and a dedicated healthcare real estate allocation targeting commercial medical assets, both concentrated in North America. While specific holdings are not publicly itemized, the real estate sleeve aligns with the pension's long-duration liabilities, seeking income-producing property to match retiree obligations. The fund does not disclose participation in broad-market public equities or alternative asset classes like private equity or venture capital, typical for sub-$100M plans that prioritize liquidity and stable income. The fund's scale reflects its niche constituency. With estimated assets under $100 million, it operates leanly, with Yosvany Torres serving as the named plan administrator. The broader Ironworkers Local 272 structure includes adjacent entities: the Southeastern Iron Workers Health Care Plan, which separately administers medical, dental, and vision benefits, and the Miami Ironworkers Local 272 Apprenticeship Training Program Fund in Fort Lauderdale, which develops skilled journeymen for the trade. The pension fund sits within this constellation of union-affiliated vehicles, each governed by joint labor-management boards of trustees. The fund's structural character is that of a classic Taft-Hartley plan: joint trusteeship, collectively bargained contributions, and a mission restricted to providing defined benefits for a specific craft union. Its investment program is not a commercial platform — it has no outside limited partners, no marketing presence, and no disclosed co-investment relationships. The governance model requires equal representation from union-appointed and employer-appointed trustees, making the plan a bilateral fiduciary operation rather than a conventional asset manager. This architecture, paired with the absence of public disclosures beyond regulatory filings, keeps the fund's investment activity largely opaque to outside observers.