# Minnesota Laborers Health and Welfare Fund

Minnesota Laborers Health and Welfare Fund is an Endowment / Foundation based in Mendota Heights, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Mendota Heights, United States
- **Region:** North America
- **Address:** Mendota Heights, MN, United States
- **Founded:** 1968
- **Assets under management:** $700M–$800M (Altss estimate)
- **Website:** www.mnlaborersfunds.org

## Regulatory record

- **Reports private funds:** No

## About

The Minnesota Laborers Health and Welfare Fund was established in 1968 to provide healthcare and related benefits to members of the Laborers' International Union of North America (LIUNA) in Minnesota and North Dakota. It operates as a jointly trusteed Taft-Hartley fund, governed by a board of union and employer trustees led by Joel Smith, President and Business Manager of LIUNA Minnesota. The wealth is not dynastic — it is pooled from collectively bargained employer contributions on behalf of roughly 12,000 active and retired laborers. The fund's investment posture splits between plan-benefit obligations and a direct real estate footprint. On the benefits side, the trust is administered via employer contributions negotiated through LIUNA agreements. The fund maintains three self-operated Laborers Clinics — in Eagan, Hugo, and Rogers — that deliver primary care, occupational medicine, and wellness services, effectively internalizing healthcare costs for members rather than paying retail rates to third-party providers. The real estate portfolio includes those clinic properties plus a corporate office in Mendota Heights. Public records indicate the fund holds a mix of domestic equities, fixed income, and commercial property, though it does not publish a detailed asset allocation. The fund shares administrative infrastructure and trustee overlap with the Minnesota Laborers Pension Fund, though the two are legally distinct entities under ERISA. The corporate office at 2520 Pilot Knob Road serves as the hub for both. Team size is not publicly disclosed, but Taft-Hartley funds of comparable scale typically operate with lean internal staff supplemented by external consultants, custodians, and investment managers. What distinguishes the fund structurally is its vertical integration into healthcare delivery — operating clinics rather than solely purchasing insurance — a model that aligns with the union's broader mission of member welfare while generating operational efficiencies. The fund does not court outside capital or market itself to institutional allocators; it exists to fulfill collectively bargained benefit commitments, governed by trustees who are accountable to LIUNA membership.

## Sectors

- Healthcare Services
- Real Estate

## People

- Joel Smith — President and Business Manager, LIUNA Minnesota; Trustee
- Joseph Fowler — Union Trustee
- Derek Pederson — Union Trustee

## Questions

### How is the Minnesota Laborers Health and Welfare Fund related to the Minnesota Laborers Pension Fund?

The two are sister funds that share administrative resources, trustee leadership, and a corporate office in Mendota Heights. Both serve LIUNA Minnesota members, but they are legally distinct entities governed by separate trust agreements and subject to different ERISA funding and reporting requirements.

### Does the fund invest directly in real estate, or only through commingled vehicles?

The fund holds direct real estate assets, including three Laborers Clinic properties in the Twin Cities metro area and its own corporate office. Beyond these operational properties, the fund does not publicly detail whether its broader real estate exposure is held directly or through fund commitments.

### What is the fund's investment approach to healthcare?

Rather than investing in healthcare companies through public or private markets, the fund operates its own primary-care clinics for members. This vertical integration model — owning the delivery channel rather than paying for external insurance alone — is uncommon among Taft-Hartley health plans and reflects the union's emphasis on direct member benefit.

### Does the Minnesota Laborers Health and Welfare Fund take outside capital or co-invest?

No. The fund is a self-contained Taft-Hartley trust capitalized exclusively through collectively bargained employer contributions. It does not solicit external capital, participate in club deals, or co-invest alongside other institutional investors.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/minnesota-laborers-health-and-welfare-fund

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology