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Michigan BAC Pension Fund
The Michigan BAC Pension Fund was established on May 1, 1989, as a Taft-Hartley multiemployer defined benefit plan. It covers eligible participants represented...
Michigan BAC Pension Fund
The Michigan BAC Pension Fund was established on May 1, 1989, as a Taft-Hartley multiemployer defined benefit plan. It covers eligible participants represented by Bricklayers and Allied Craftworkers Local 2 of Michigan. Employer contributions, negotiated via collective bargaining with signatory contractors, are the sole funding source. The fund is governed by a Board of Trustees split between union and management representatives, a standard structural feature of this type of plan. The fund deploys capital across a diversified alternative investment mix. Public records indicate allocations to mezzanine debt, secondaries, and fund-of-funds commitments. A known direct real asset holding is Tri-Con XI, B.L.P., a mixed-use development, reflecting a preference for tangible income-producing investments. The strategy uses external managers to access private markets, common among mid-sized union pension funds that lack large internal investment teams. Operations are managed by a Plan Administrator based in Lansing, Michigan. While the number of professionals is not publicly detailed, the fund maintains affiliations with the International Union of Bricklayers and Allied Craftworkers and the AFL-CIO. The website is sparse, suggesting a traditional posture focused on fiduciary administration and participant services rather than public-facing investment communications. Structurally, the fund differs from single-family offices or perpetual endowments by its defined liability profile. Its investment horizon is calibrated to the actuarial demands of aging union memberships, requiring a disciplined, liability-driven approach to private market commitments. The board's fiduciary duty runs to the participants and their beneficiaries, a constraint that shapes liquidity and risk posture.
General information
Firm type
Pension Fund
Year founded
1989
Location
Region
North America
Country
United States
City
Lansing
Corporate office
Lansing, MI, United States
Sector focus
Frequently asked questions
Who governs investment decisions at the Michigan BAC Pension Fund?
A Board of Trustees, composed of union and contributing employer representatives, oversees the fund. Day-to-day administration and investment implementation are delegated to a Plan Administrator and external investment managers. The specific identity of current trustees is a matter of public record through the fund's regulatory filings.
How does the fund typically access alternative investments?
The fund utilizes a mix of fund-of-funds, mezzanine debt, and secondaries to access private markets. This external-manager approach allows a plan of its size to achieve diversification without building a large internal investment office. Direct co-investments appear limited, with the known exception of the Tri-Con XI mixed-use development.
Who are the primary beneficiaries of this plan?
Eligible participants are members of Bricklayers and Allied Craftworkers (BAC) Local 2 of Michigan, which covers the lower peninsula. The fund provides retirement, disability, and survivor benefits financed exclusively by employer contributions negotiated under collective bargaining agreements. It is affiliated with the International Union of Bricklayers and Allied Craftworkers.
Is the fund structured like a typical corporate pension plan?
No. This is a Taft-Hartley multiemployer plan, meaning it is jointly trusteed by a board of union and management representatives. Multiple employers contribute under a master agreement, and a participant's benefit is portable across contributing employers. This structure is standard for building trades unions and differs fundamentally from single-employer corporate plans.
What is the known posture on co-investments alongside external GPs?
The fund's primary exposure to private assets appears to be through fund commitments rather than direct co-investment programs. The disclosed direct holding in Tri-Con XI suggests they will invest directly in real estate when the opportunity aligns with the board's risk and return targets, but the general strategy is intermediated.
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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