Updated:
NECA IBEW Family Medical Care Trust Fund
The NECA IBEW Family Medical Care Trust Fund launched in 2006 as the Family Medical Care Plan, a joint creation of the International Brotherhood of Electrical...
NECA IBEW Family Medical Care Trust Fund
The NECA IBEW Family Medical Care Trust Fund launched in 2006 as the Family Medical Care Plan, a joint creation of the International Brotherhood of Electrical Workers and the National Electrical Contractors Association. Based in Rockville, Maryland, the fund provides medical, dental, vision, and prescription coverage to over 112,000 lives across a seven-state footprint spanning Alabama, Indiana, Illinois, Florida, Georgia, Kentucky, and Wisconsin. The trust runs a multi-asset-class investment program that blends direct real estate holdings with private credit and infrastructure exposure. Identified positions include stakes in the Intercontinental U.S. Real Estate Investment Fund, the ASB Allegiance Real Estate Fund, and the BGO Diversified US Property Fund. On the fixed-income side, the fund holds the IRM Core Bond Fund II, Ullico Infrastructure Tax-Exempt Fund, and Federal Home Loan Bank investments. This configuration points to a liability-aware posture that prioritizes current income and asset-liability matching for a mature benefit pool. The investment team operates under CEO David Long, Managing Director Tracy Golden, and President and Trustee Kenneth W. Cooper. While the fund does not publicly disclose total assets, its sourcing is deeply embedded in union and contractor networks — the IBEW and NECA jointly sponsor the trust. A visible operational event occurred in late 2024, when the fund announced it would transition its major medical coverage from Blue Cross Blue Shield to United Healthcare effective January 1, 2026. The fund's architecture is unusual: it is a Taft-Hartley welfare trust that also functions as a direct institutional limited partner in private real estate and infrastructure vehicles. Most multiemployer health plans outsource investment management to insurance-company general accounts; this one retains separate-account control and commits to third-party funds. That governance model gives its trustees direct line-of-sight into asset allocation decisions, a structural feature that distinguishes it from passive health-and-welfare peers.
General information
Firm type
Endowment / Foundation
Year founded
2006
Location
Region
North America
Country
United States
City
Rockville
Corporate office
Rockville, MD, United States
Principals
David Long
Chief Executive Officer
Tracy Golden
Managing Director
Kenneth W. Cooper
President and Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at the NECA IBEW Family Medical Care Trust Fund?
David Long serves as CEO, Tracy Golden is Managing Director, and Kenneth W. Cooper holds the positions of President and Trustee. The three operate as the named principals overseeing the fund's investment and administrative functions, per the firm's own disclosures.
How does the trust fund source its investment opportunities?
Sourcing is heavily relationship-driven, flowing through the union and contractor networks of the International Brotherhood of Electrical Workers and the National Electrical Contractors Association. The fund does not operate as an open-market allocator; it selects limited-partner positions in private funds and direct real estate vehicles through established institutional channels, often alongside other multiemployer plans.
Is the NECA IBEW Trust Fund purely a benefits administrator, or does it maintain its own investment portfolio?
It maintains a separate investment portfolio alongside its benefits-administration function. Known holdings include stakes in three private real estate funds — Intercontinental U.S. Real Estate Investment Fund, ASB Allegiance Real Estate Fund, and BGO Diversified US Property Fund — plus a core bond fund, an infrastructure tax-exempt fund, and Federal Home Loan Bank investments.
Does the fund participate in direct deals or only fund commitments?
The known portfolio structure is exclusively committed to third-party funds across real estate, infrastructure, and fixed income. Identified vehicles are commingled institutional funds rather than direct-property or direct-lending positions, suggesting a fund-of-funds or LP-only strategy with no disclosed co-investment program.
Which segments of healthcare coverage does the trust administer?
The plan covers medical, dental, vision, and prescription benefits for over 112,000 union members and their families. Preventative and digital-health programs include Hello Heart for blood-pressure monitoring and Color for cancer risk assessment and screening support, both offered at no extra cost to eligible members.
How is the fund governed, and what distinguishes it from other Taft-Hartley welfare plans?
The trust is jointly sponsored by the IBEW and NECA under a Taft-Hartley structure, meaning labor and management trustees share fiduciary responsibility. Unlike many Taft-Hartley welfare plans that park reserves in insurance-company accounts, this fund retains direct control over asset allocation and commits to separately managed institutional vehicles — a governance model closer to an endowment than to a typical health plan.
What is the fund's geographic footprint for plan membership?
The plan covers members in seven states: Alabama, Indiana, Illinois, Florida, Georgia, Kentucky, and Wisconsin. This seven-state footprint determines the covered lives and shapes the actuarial and liability profile the investment portfolio is designed to serve.
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.
Need institutional-grade insight on endowments & foundations?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: