Marble, Tile, and Terrazzo Workers Pension Fund

Marble, Tile, and Terrazzo Workers Pension Fund

The Marble, Tile, and Terrazzo Workers Pension Fund is the retirement vehicle for union members of BAC Local 7, the New York chapter of the International Union of Bricklayers and Allied Craftworkers. The fund provides defined-benefit pensions to tradespeople working in tile, marble, and terrazzo installation — a specialized, finite labor pool concentrated in the New York metropolitan region. Administration is handled through the Local 7 Funds Office in Laurel, New York, a shared-benefits entity that also manages health and welfare plans. Employer trustee James Beecher represents contributing contractors, while union trustee Kevin Ennis represents the membership. The fund maintains close operational ties with the Bricklayers and Trowel Trades International Pension Fund, a larger multi-employer plan that often co-invests alongside or administers jointly with this local fund. The fund deploys capital predominantly through real estate fund-of-funds commitments, a strategy that pools union pension assets into professionally managed, institutionally scaled vehicles. Known commitments span multiple US and Canadian managers. The AFL-CIO Building Investment Trust provides mixed-use exposure with a mandate that often includes union-labor construction requirements. The AFL-CIO Housing Investment Trust targets residential development, frequently affordable and workforce housing. American Realty Advisors manages core and value-add commercial real estate portfolios. Crestpoint Real Estate Investments allocates across Canadian and US commercial properties. Intercontinental Real Estate Corporation rounds out the known lineup with a mixed-use US strategy. These commitments are characteristic of labor-affiliated multi-employer plans that prioritize job-creating investments within the sectors their members build. Total assets under management are not publicly disclosed by the fund, which is consistent with many small to mid-sized Taft-Hartley plans that report only to regulatory filings rather than the investment press. The fund participates in no known co-investment clubs or external investor networks, and it does not maintain a public-facing investment team web presence. In May 2025, the fund remained actively administered through the BAC Local 7 Funds Office, continuing its long-standing relationship with the International Union of Bricklayers and Allied Craftworkers. A related philanthropic vehicle, the BAC Local 7 Tile Marble and Terrazzo Scholarship Fund Inc, provides educational grants to members and their families, functioning as a separate 501(c)(3) entity. The fund's structural differentiator is its position within the unionized specialty-trade pension system: a single-craft, single-local plan that allocates alongside but independently of the larger Bricklayers and Trowel Trades International Pension Fund. Unlike large state pension systems or corporate defined-benefit plans, this fund operates without an internal investment staff, relying entirely on third-party fund managers and trustee-directed allocation decisions. The governance structure — balanced between union and employer trustees — is a hallmark of Taft-Hartley multi-employer plans, creating a built-in negotiation dynamic that shapes every investment decision. Succession planning for trustee roles, particularly the union-side seat held by Kevin Ennis, remains tied to internal union elections within BAC Local 7.