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Local 710 Health Welfare & Pension Funds
Teamsters Local 710 Pension Fund co-chaired by Michael Cales and Samuel Pilger runs ~$4.1B from Mokena, IL.
Local 710 Health Welfare & Pension Funds
The Local 710 Health Welfare & Pension Funds were established in 1955 to serve the International Brotherhood of Teamsters Union Local 710 membership base in the Chicago-area logistics and transportation corridor. Secretary-Treasurer Michael J. Cales and President Delmar R. Schaefer lead the union trustee side, with Samuel D. Pilger serving as employer trustee and co-chairman. The fund operates as a joint labor-management multiemployer defined-benefit plan under Taft-Hartley rules. Strategy spans buyout and distressed debt exposure, early-stage venture via fund-of-funds commitments, and direct commercial real estate equity. Confirmed positions include allocations to TerraCap Partners Fund VI and NorthStar/RXR, alongside the NorthStar Capital Income Fund. The fund also holds a passive equity sleeve through Northern Trust Collective vehicles tracking the Russell 2000 Index and a government/credit bond index. An unusual on-balance-sheet asset class appears in deferred pension payment receivables, tied to a Contribution Deferral Agreement with trucking carrier YRC Inc. Joint Council 25 provides a regional governance layer within the International Brotherhood of Teamsters network. Union trustee Brian J. O'Malley serves as Plan Administrator, overseeing daily operations from the fund's Mokena office. The portfolio carries legacy litigation positions in General Motors and Philip Morris International, reflecting the long-duration nature of a plan that has been paying benefits across multiple economic cycles since the mid-1950s. Structural differentiator: The fund blends long-tail union welfare obligations with a diversified alternative-asset program that includes direct commercial real estate co-investments, credit strategies, and venture-stage commitments — a portfolio shape more typically associated with endowments than single-union Taft-Hartley plans. Its deferred pension receivable exposure to YRC Inc. creates a unique credit linkage to the trucking industry that directly employs its beneficiaries.
General information
Firm type
Pension Fund
Year founded
1955
AUM
$4.1B (Altss estimate)
Location
Region
North America
Country
United States
City
Mokena
Corporate office
Mokena, IL, United States
Principals
Michael J. Cales
Secretary-Treasurer and Union Trustee, Co-Chairman of the Pension Fund
Delmar R. Schaefer
President and Union Trustee
Samuel D. Pilger
Employer Trustee, Co-Chairman of the Pension Fund
Brian J. O'Malley
Plan Administrator
Sector focus
Frequently asked questions
Who makes investment decisions at the Local 710 Pension Fund?
Investment governance rests with joint labor-management trustees. Union-side trustees Michael J. Cales and Delmar R. Schaefer serve alongside employer trustee Samuel D. Pilger, who co-chair the fund. Day-to-day plan administration falls to Brian J. O'Malley. External investment managers like TerraCap and NorthStar handle discrete mandates, but asset allocation and manager selection stay with the trustee board.
What asset classes does the fund invest in?
The fund maintains allocations across buyout, distressed debt, mezzanine, special situations, early-stage venture (via fund-of-funds), and direct commercial real estate. Public-market exposure includes a Russell 2000 index fund and a government/credit bond index fund, both through Northern Trust collective vehicles. The portfolio also carries deferred pension payment receivables from a contribution deferral agreement with YRC Inc.
Is Local 710 a single-employer or multiemployer pension plan?
It is a multiemployer Taft-Hartley defined-benefit pension plan. Multiple employers contribute under collective bargaining agreements negotiated by Teamsters Local 710. The fund operates jointly with employer and union trustees sharing fiduciary responsibility.
How is the fund related to the International Brotherhood of Teamsters?
Local 710 is a chartered affiliate of the International Brotherhood of Teamsters, and the pension fund exists to serve that local's membership. Joint Council 25 provides regional coordination across Teamsters locals. The fund's welfare obligations are tied directly to the Local 710 bargaining unit, not the International.
Does the fund invest directly in real estate or only through fund commitments?
Both. Allocations to TerraCap Partners Fund VI and NorthStar/RXR represent commingled fund commitments, while the fund also holds direct commercial interests, including its own Mokena office property. The NorthStar Capital Income Fund position adds an income-oriented real estate credit sleeve.
What is the deferred pension receivable from YRC Inc.?
The fund entered a Contribution Deferral Agreement with trucking carrier YRC Inc., allowing the employer to defer required pension contributions during a period of financial difficulty. The resulting receivable sits on the fund's books as an asset, though collectability risk ties directly to YRC's operating performance and its subsequent restructuring history.
Are the Local 710 funds open to outside investors or other union members?
No. The pension and welfare funds exclusively serve members and beneficiaries of Teamsters Local 710. Participation is determined by collective bargaining agreements and plan eligibility rules, not open-market investment minimums.
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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