Local 705 International Brotherhood of Teamsters Pension Plan

Local 705 International Brotherhood of Teamsters Pension Plan

The Local 705 International Brotherhood of Teamsters Pension Plan is a multiemployer Taft-Hartley retirement plan established to serve collectively bargained members of Teamsters Local Union 705 in Chicago, Illinois. A joint Board of Trustees, equally split between labor representatives and contributing employers, governs the fund. United Parcel Service (UPS) stands as a major contributing employer, tying the plan's financial health directly to one of the world's largest logistics workforces. Asset allocation spans real estate, private credit, hedge funds, and common and collective trusts. Directly held real estate includes the Teamster City headquarters at 1645 West Jackson Boulevard and a nearby land parcel on Jackson Boulevard, both in Chicago. The plan participates in fund commitments and pooled vehicles rather than direct corporate co-investments, consistent with the fiduciary posture of collectively governed mid-sized pension funds. Geographic exposure centers on the US, primarily the Midwest. The fund operates under the administration of Jack F. Witt, with union trustees Secretary-Treasurer Juan Campos and President Kenneth J. Emanuelson representing labor interests, and Stephen F. G. Bridge serving as an employer trustee. Philanthropic activities are channeled through the James R. Hoffa Memorial Scholarship Fund, a separate entity that provides educational scholarships to the children of Teamster members. What distinguishes the Local 705 plan structurally is its embedded labor-management governance model — a rare joint-trustee format under ERISA that mandates equal representation at every fiduciary decision point. This architecture forces consensus on allocation changes, manager selection, and benefit policy, creating an investment process inherently shaped by collective bargaining relationships rather than a single sponsor's risk appetite.