# Local 734 Pension Fund

Local 734 Pension Fund is a Pension Fund based in Chicago, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Assets under management:** Undisclosed
- **Website:** bakerydrivers-local734.com
- **LinkedIn:** https://www.linkedin.com/company/bakery-drivers-local

## Regulatory record

- **Reports private funds:** No

## About

Local 734 Pension Fund was established as a multiemployer plan for members of Teamsters Local 734, the Chicago union representing bakery drivers and related trades. The fund operates under a joint board of trustees — split between union and employer representatives — a governance model common to Taft-Hartley plans. Its core mission is delivering retirement security to a specific, skilled workforce. The fund maintains a reciprocal agreement with the Teamsters Local 705 Pension Plan, smoothing benefit portability for workers moving between covered employers. Investment strategy skews conservative, reflecting the plan's mature liability profile. Public records show a foundation of fixed-income and public equity allocations alongside a direct real estate holding: a mixed-use property in Jefferson Township, Cook County. While detailed portfolio composition is not publicly disclosed, multiemployer plans of this size typically access private markets through fund commitments rather than direct co-investment prorams. Scale data remains thin. The plan is modest relative to national peers, and it has drawn on the Pension Benefit Guaranty Corporation's Special Financial Assistance program — a lifeline created by the American Rescue Plan Act of 2021 for troubled multiemployer plans. No AUM or headcount figures are published. The digital footprint consists of a single-page site explaining eligibility and benefits, consistent with a plan that prioritizes member services over external asset-manager engagement. The fund's architecture is its differentiator: Taft-Hartley governance means investment policy is negotiated, not unilateral. No single family or corporate sponsor controls the purse strings. The requirement for trustee consensus shapes pacing, risk tolerance, and manager selection in ways that distinguish it from corporate or public pension peers.

## Sectors

- Real Estate
- Private Credit
- Infrastructure

## Questions

### How does the reciprocal agreement with Teamsters Local 705 work?

The reciprocal agreement allows participants who move between contributing employers covered by Local 734 and Local 705 to combine service credits for vesting and benefit calculation purposes. It prevents benefit fragmentation for workers in the Chicago-area Teamster ecosystem.

### What is the plan's posture toward external asset managers?

The fund issues RFPs and selects external managers through its trustee process, but it maintains a low public profile and does not actively solicit GP relationships. Manager selection is driven by fiduciary duty under ERISA, with a focus on stability and alignment with the plan's liability-driven investment objectives.

## Related profiles

- [Local 705 International Brotherhood of Teamsters Pension Plan](https://altss.com/profile/local-705-international-brotherhood-of-teamsters-pension-plan)
- [Local 804 I.B.T & Local 447 I.A.M (UPS Multi-Employer Retirement Plan)](https://altss.com/profile/local-804-i-b-t-local-447-i-a-m-ups-multi-employer-retirement-plan)

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Last updated: 2026-08-11T02:43:31.692Z

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