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Local 381 Pension Fund
The Local 381 Pension Fund was established to provide retirement security for members of the Folding Box-Corrugated Box and Display Workers Union Local 381, a...
Local 381 Pension Fund
The Local 381 Pension Fund was established to provide retirement security for members of the Folding Box-Corrugated Box and Display Workers Union Local 381, a labor organization representing workers in the specialized packaging and display manufacturing trades. The plan is a multiemployer defined-benefit fund, meaning multiple employers contribute under collectively bargained agreements, with benefits determined by a formula rather than individual account balances. Trustee Alphonse Falco and Pension Fund Manager Francia Reed oversee its administration from Mineola, New York. The fund maintains a traditional institutional portfolio allocated across public equities, fixed income, and private-market assets. A known holding is the ARA Core Property Fund, an open-end core real estate vehicle that suggests a strategic allocation to stable, income-producing commercial properties. As a Taft-Hartley plan, its investment policy is governed by a board of trustees split evenly between union and employer representatives, operating under ERISA fiduciary standards. Its geographic focus is squarely domestic, with assets managed primarily by external institutional managers rather than in-house investment staff. With assets estimated by Altss in the $100–$150 million range, the fund is modest relative to large state plans but typical for a single-union multiemployer plan serving a specialized trade. It does not maintain a public-facing investment website and does not solicit outside capital. In May 2026, Altss research confirmed its active status and core real estate allocation. The plan's scale and structure make it a steady, conservative allocator rather than a first-mover in alternative assets. Its structural differentiator lies in its governance: as a multiemployer plan, no single employer controls the fund, and investment decisions require consensus between labor and management trustees. This joint-trustee model, mandated by the Taft-Hartley Act, creates a distinctive fiduciary dynamic where long-term stability and predictable liquidity often outweigh return maximization — a posture that influences everything from manager selection to asset-class pacing.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Mineola
Corporate office
Mineola, NY, United States
Principals
Alphonse Falco
Plan Sponsor and Trustee
Francia Reed
Pension Fund Manager
Sector focus
Frequently asked questions
Who oversees investment decisions at the Local 381 Pension Fund?
Investment oversight resides with a board of trustees composed of union and employer representatives, as required by the plan's Taft-Hartley multiemployer structure. Francia Reed serves as Pension Fund Manager, handling day-to-day administration. Trustees, including Alphonse Falco, bear ultimate fiduciary responsibility for asset allocation and manager selection under ERISA.
What is the fund's current real estate allocation strategy?
The fund holds a position in the ARA Core Property Fund, an open-end vehicle investing in stabilized, income-generating US commercial real estate. This suggests a preference for core, low-leverage property exposure rather than opportunistic or development-focused strategies. The allocation likely serves as an inflation hedge and income producer within the broader portfolio.
Is the Local 381 Pension Fund open to new investment manager pitches?
As a Taft-Hartley plan with a trustee-governed investment process, the fund may accept unsolicited inquiries from institutional managers, though its small staff and conservative posture mean decisions move slowly. Managers targeting the plan should approach through established consultant relationships or direct trustee introduction. The fund does not publish an open RFP calendar.
How does the multiemployer structure affect the fund's investment risk tolerance?
The multiemployer model pools contributions from many small employers, none of whom bear sole liability for funding shortfalls. This joint-and-several structure encourages conservative investment policies focused on steady, actuarially sound returns. The board's labor-management composition reinforces a bias toward capital preservation, as benefit security is paramount for union members nearing retirement.
Does the Local 381 Pension Fund allocate to private equity or venture capital?
There is no public evidence of direct private equity or venture capital commitments by the fund. Its known alternative exposure is limited to real estate via the ARA Core Property Fund. Given its modest size and conservative governance, any private equity allocation would likely come through fund-of-funds or small commitments to established middle-market managers.
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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