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New Orleans Employers International Longshoremen’s Association, AFL-CIO Pension Fund
The New Orleans Employers International Longshoremen’s Association, AFL-CIO Pension Fund is a multiemployer defined-benefit plan serving dockworkers and...
New Orleans Employers International Longshoremen’s Association, AFL-CIO Pension Fund
The New Orleans Employers International Longshoremen’s Association, AFL-CIO Pension Fund is a multiemployer defined-benefit plan serving dockworkers and related port labor along the Gulf Coast. Certified as being in critical status as of December 2024, the fund operates under a formal rehabilitation plan mandated by federal pension law. Contributing employers include stevedoring and marine-terminal operators such as United Stevedoring of America and P&O Ports Louisiana. The plan’s investment strategy reflects its distressed balance sheet. Reported holdings include interests in Principal Real Estate Investors vehicles and the Amalgamated Bank Longview Ultra Construction Loan Investment Fund, suggesting a portfolio weighted toward contractual income streams and hard assets. The fund has been a motivated seller in the private-market secondary space, using liquidity from secondary sales to meet current obligations. Geographic focus is overwhelmingly domestic, concentrated in Gulf-region infrastructure and real estate assets that align with the maritime logistics tied to its contributing employers. The plan has pursued litigation as an asset-recovery mechanism. A notable action involved United Stevedoring of America regarding withdrawal liability claims, and a separate suit targeted former plan actuaries alongside P&O Ports Louisiana as co-plaintiff. These legal proceedings — part of the plan's fiduciary enforcement — represent a material non-investment source of potential recoveries. The administrator, Thomas R. Daniel, serves as the named fiduciary visible in those filings. Team size is not publicly disclosed. Structurally, the fund differs from single-employer corporate plans in that its rehabilitation plan — negotiated among labor, management, and regulators — effectively gates investment decisions through a statutory framework. This creates a forced-duration dynamic uncommon in typical pension pools: liquidity events and settlement recoveries flow directly into the calculus of benefit restoration targets defined by the Pension Protection Act.
General information
Firm type
Multi Family Office
Location
Region
North America
Country
United States
City
New Orleans
Corporate office
New Orleans, LA, United States
Principals
Thomas R. Daniel
Plan Administrator
Sector focus
Frequently asked questions
What is the current funded status of the New Orleans ILA Pension Fund?
As of late December 2024, the plan was certified to be in critical status — also known as the 'red zone' — meaning it faces funding or liquidity impairments that triggered a formal rehabilitation plan. These plans are required under the Pension Protection Act and must target specific benefit restoration benchmarks over a statutory timeline.
What investment asset classes does the plan hold?
Disclosed holdings point to a concentration in real estate and construction-lending funds, with named manager relationships including Principal Real Estate Investors and Amalgamated Bank's Longview construction loan fund. The plan has also been an active seller in the private-equity secondary market, consistent with liquidity demands imposed by its critical-status rehabilitation plan.
Has the fund pursued litigation to recover assets?
Yes. The fund has been a plaintiff in at least two known actions: one against its former plan actuaries — with P&O Ports Louisiana as co-plaintiff — and a separate withdrawal-liability matter involving contributing employer United Stevedoring of America. These suits represent a fiduciary enforcement and asset-recovery strategy parallel to traditional portfolio management.
Who are the primary contributing employers?
Contributing employers are predominantly Gulf-based stevedoring operators and port-services companies. United Stevedoring of America, P&O Ports Louisiana, and related entities like American Guard Services appear in litigation and regulatory records as employer-members of the multiemployer bargaining unit.
How does the plan's critical status affect its investment strategy?
Critical status constrains illiquid commitments and elevates the need for near-term cash flows to meet benefit obligations. This makes the fund a price-taker in secondary-market sales and heavily orients its portfolio toward income-producing real assets — a posture driven less by macro views than by the actuarial demands of the rehabilitation schedule approved by the plan's trustees.
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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