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New Orleans Employers International Longshoremen’s Association, AFL-CIO Pension Fund
Multiemployer pension fund for New Orleans dockworkers, certified in critical status as of 2024, deploying through secondaries and real estate.
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 covering dockworkers and related waterfront employees along the Gulf Coast. Multiemployer plans of this kind collect contributions from multiple unionized employers — here, stevedoring and terminal-operating companies — and pay retirement benefits to participating longshoremen. The plan operates under a rehabilitation plan certified by its trustees, a required step for any multiemployer fund in 'critical status' under federal pension law. The fund's investment strategy is dominated by secondaries, with small allocations to real estate and private credit. Known positions include a stake in the Principal Real Estate Investors U.S. commercial property portfolio and the Amalgamated Bank – Longview Ultra Construction Loan Investment Fund. No direct private-equity or venture-capital commitments have been disclosed. Geographic exposure centers on the United States, with no known international holdings. The plan does not appear to maintain direct co-investment or separate-account relationships. The fund is deeply entangled with its contributing employers. The plan and P&O Ports Louisiana jointly sued their former actuaries over alleged professional failures. Separately, United Stevedoring of America and its affiliate American Guard Services face withdrawal-liability litigation — a common feature of multiemployer plans when a contributing employer exits without fully funding its share of unfunded liabilities. No philanthropic or adjacent vehicles are linked to the plan. What distinguishes this fund is its contested legal posture. Most pension plans hire actuaries and negotiate with employers; this one litigates actively against both. The rehabilitation plan — required by the Pension Protection Act for 'critical status' funds — gives the trustees power to reduce adjustable benefits and impose contribution surcharges, making the fund a study in how multiemployer plans manage through insolvency risk rather than pure return-seeking.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
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 does 'critical status' mean for a multiemployer pension plan?
Under the Pension Protection Act of 2006, a multiemployer plan is certified 'critical' — formerly 'red zone' — when its actuary projects the fund will run out of money to pay benefits within roughly 15 to 20 years. Critical-status plans must adopt a rehabilitation plan that can reduce adjustable benefits and impose contribution surcharges on employers. This fund entered critical status in December 2024.
How is the fund's investment strategy constrained by its critical status?
The rehabilitation plan likely requires the board to prioritize capital preservation and liquidity over total-return strategies, which explains the fund's heavy weighting toward secondaries and its small, cautious allocations to real estate and private credit. Known positions include the Principal Real Estate Investors commercial portfolio and the Amalgamated Bank – Longview Ultra Construction Loan Investment Fund.
Who contributes to the New Orleans ILA pension fund?
Contributing employers are primarily stevedoring and terminal-operating companies that employ ILA-represented dockworkers along the Gulf Coast. Confirmed contributors include P&O Ports Louisiana and United Stevedoring of America, both of which have been parties to related litigation with the fund.
What litigation involves this pension fund?
Two significant legal matters are public record. First, the fund and P&O Ports Louisiana brought claims against the plan's former actuaries. Second, the fund pursued withdrawal-liability claims against United Stevedoring of America and its affiliate American Guard Services, a standard remedy when an employer stops contributing to an underfunded multiemployer plan.
Does the fund make direct investments or use external managers?
Disclosed positions are held through commingled vehicles — the Principal Real Estate Investors commercial property fund and the Amalgamated Bank – Longview Ultra Construction Loan Investment Fund — suggesting the fund uses external managers rather than direct investment. No direct private-equity or venture-capital commitments appear in available records.
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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