# Local 580 Annuity Fund

Local 580 Annuity Fund is a Pension Fund based in New York, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 501 West 42nd Street, New York, NY 10036, United States
- **Founded:** 1954
- **Assets under management:** Undisclosed
- **Website:** www.ironworkers580.org
- **LinkedIn:** https://www.ironworkers580.org

## Regulatory record

- **Reports private funds:** No

## About

The Local 580 Annuity Fund was established in 1954 to serve Ironworkers Local 580 members through a multiemployer defined-benefit structure. James Mahoney acts as Business Manager and Trustee alongside employer representatives from Allied Building Metal Industries. The fund allocates across private equity strategies including buyout and fund-of-funds vehicles. Confirmed holdings include Jackson National Short Duration. It also owns commercial real estate in New York through entities such as 501-507 West 42nd Street Realty Corp and Architectural Iron Realty Corp. Geographic exposure centers on the United States with ancillary claims tied to proceedings in California. Total plan assets stand at the level recorded in the research file. The fund maintains a scholarship vehicle, the Local 580 College Scholarship Fund, which distributes up to $3,500 annually per eligible student. Service providers include Segal Marco Advisors for investment counsel, Schultheis & Panettieri for audit, and State Street Bank & Trust Co. for custody. Governance rests with joint union-employer trustees under collective bargaining agreements with the Contractors' Association of Greater New York. The structure channels contributions directly into benefit payments and asset accumulation without external family-office overlay.

## Sectors

- Diversified

## People

- James Mahoney — Business Manager and Trustee

## Questions

### Who runs investment decisions at Local 580 Annuity Fund?

James Mahoney serves as Business Manager and Trustee alongside employer-side trustees from Allied Building Metal Industries. Segal Marco Advisors provides external investment counsel.

### What asset classes appear in the fund's allocations?

Private equity via buyout and fund-of-funds strategies plus direct commercial real estate ownership in New York.

### Which organizations is the fund affiliated with?

Affiliations include the AFL-CIO through the International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers and the Contractors' Association of Greater New York.

### How is the fund related to Iron Workers Local 580?

The annuity fund forms part of the Ironworkers Local 580 Trust Funds and covers eligible union members for retirement and ancillary benefits.

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Last updated: 2026-06-03T20:00:00.000Z

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