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Local 282 Pension Trust Fund
The Local 282 Pension Trust Fund operates as a multi-employer Taft-Hartley defined-benefit plan, deriving its capital from collectively bargained contributions...
Local 282 Pension Trust Fund
The Local 282 Pension Trust Fund operates as a multi-employer Taft-Hartley defined-benefit plan, deriving its capital from collectively bargained contributions by employers of the International Brotherhood of Teamsters Local 282. The fund serves members whose work concentrates in ready-mix concrete, building materials delivery, and heavy construction across New York City and Long Island. Governance rests with a board of trustees split evenly between union and employer representatives, a structure typical of jointly administered pension plans. The fund's investment portfolio demonstrates a pronounced tilt toward tangible assets and income-generating real estate. Public records document holdings in the ASB Allegiance Real Estate Fund, a core institutional real estate vehicle, alongside direct interests in a development parcel in Southampton, New York, and a residential property in Ortley Beach, New Jersey. The fund extends loans to participants and also holds non-participant loans, suggesting an allocation to private credit strategies or direct lending programs. The geographic concentration in New York, New Jersey, and broader Northeast markets aligns with the membership base. Team operations run through the Fund Office in Lake Success, New York, which administers pension applications, direct deposits, and beneficiary changes. The fund participates in the broader labor ecosystem through the AFL-CIO network via its parent, the International Brotherhood of Teamsters. No dedicated investment staff or external consultant relationships are publicly documented, reflecting the lean administrative structure characteristic of many mid-sized Taft-Hartley plans where trustees oversee investment policy. The fund's structural differentiator is its embedded local-market intelligence. Trustees and contributing employers operate at the intersection of New York's construction pipeline, labor dynamics, and real estate development cycles, creating a natural feedback loop between the industries that fund the plan and the assets the plan acquires. This alignment is uncommon outside multi-employer labor funds.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Lake Success
Corporate office
Lake Success, NY, United States
Principals
Thomas Gesualdi
Co-Chairman and Trustee
Gary La Barbera
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at Local 282 Pension Trust Fund?
A board of trustees holds fiduciary authority over investment policy. Known trustees include Co-Chairman Thomas Gesualdi and Gary La Barbera, a prominent labor leader. Trustees serving Taft-Hartley plans typically delegate day-to-day management to investment consultants or staff, though no public disclosures identify outside advisors for this fund.
What is the fund's primary investment focus?
The portfolio emphasizes real estate and private credit. Documented holdings include a core institutional real estate fund (ASB Allegiance), a Long Island land parcel, and a New Jersey residential property. Participant and non-participant loans further indicate a credit component. The concentration in tangible assets reflects a preference for yield-oriented, local-market exposures.
Where does the capital originate?
Contributions come from employers of Teamsters Local 282 members under collectively bargained agreements. The local's membership works predominantly in ready-mix concrete, building materials delivery, and heavy construction, anchoring the fund's capital base to New York's physical economic activity.
Is Local 282 Pension Trust Fund a Taft-Hartley plan?
Yes. The fund is jointly administered by union and employer trustees, a structure mandated under the Taft-Hartley Act of 1947. This governance model distinguishes it from single-sponsor corporate pension plans and gives both labor and management a voice in benefit and investment decisions.
How does the fund source investment opportunities?
While no formal sourcing channels are publicly documented, the fund's trustee network and employer relationships likely provide visibility into local real estate development, construction financing, and related private-market opportunities across the New York metropolitan area. For its core real estate allocation, the fund invests through institutional fund managers such as ASB Capital Management.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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