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New Orleans Steamship Association / International Longshoremen's Association (ILA) Pension & Welfare Funds
The New Orleans Steamship Association / ILA Pension Fund covers longshore workers in Port of New Orleans.
New Orleans Steamship Association / International Longshoremen's Association (ILA) Pension & Welfare Funds
The New Orleans Steamship Association / International Longshoremen's Association (ILA) Pension Fund originates in the Taft-Hartley Act of 1947, which allowed collectively bargained multi-employer pension plans in unionized industries. The fund's board is split evenly between employer and union trustees: Nick Jumonville (MidGulf Association of Stevedores) and Dwayne Boudreaux (ILA Local 2036) serve as co-chairmen. Thomas Daniel acts as plan administrator. The portfolio blends fixed income (corporate bonds), secondaries/private credit, and a real estate holding managed by Principal Real Estate Investors. The fund's equity exposure is largely through secondaries rather than direct stocks. It does not maintain a public list of individual holdings beyond the Principal Real Estate Investors portfolio. The fund's 2025 annual report (per publicly filed Form 5500) disclosed assets of approximately $120M with a funding ratio of 84%, placing it in the "fair" category under the Pension Protection Act. The fund has no website, LinkedIn presence, or published investment policy — transparency is limited to regulatory filings. A separate welfare fund provides health and other benefits to the same covered group. The fund's structure is a classic Taft-Hartley multi-employer plan — jointly trusted with equal employer and union representation. Unlike a corporate pension, the board includes no professional investment staff; asset allocation and manager selection are handled by the trustees with external advisors. This governance model is common in longshore and maritime funds along the Gulf Coast but limits flexibility for alternative investments without fiduciary expertise.
General information
Firm type
Single Family Office
Year founded
1950
AUM
$100M – $499M (Altss estimate)
Location
Region
North America
Country
United States
City
New Orleans
Corporate office
New Orleans, LA, United States
Principals
Nick Jumonville
Employer Co-Chairman and Trustee (representing MidGulf Association of Stevedores)
Dwayne Boudreaux
Union Co-Chairman and Trustee (representing ILA Local 2036)
Thomas Daniel
Plan Administrator for the Pension and Welfare Funds
Sector focus
Frequently asked questions
Who are the trustees of the New Orleans Steamship Association / ILA Pension Fund?
The fund is jointly trusted. Employer trustees are appointed by the MidGulf Association of Stevedores (successor to the New Orleans Steamship Association) with Nick Jumonville serving as Employer Co-Chairman. Union trustees represent ILA Locals 2036 and 3000, with Dwayne Boudreaux as Union Co-Chairman (per the plan's Form 5500 filings).
How is the pension fund's money invested?
The fund's asset allocation historically includes corporate bonds, secondaries/private credit, and a real estate investment through Principal Real Estate Investors. The fund does not maintain a public listing of individual holdings, but its investment policy is limited to these relatively conservative, liquid-friendly asset classes, consistent with its Taft-Hartley fiduciary obligations.
What is the fund's funding status?
As of the 2025 plan year, the fund reported an 84% funded ratio under the Pension Protection Act's red/yellow/green zone system, placing it in the 'fair' (yellow) category. The fund has not entered critical status, indicating it is not currently at risk of insolvency but will require continued employer contributions to meet future obligations.
Why is the fund relatively small compared to other Taft-Hartley plans?
The Port of New Orleans is a mid-sized container port relative to Gulf Coast peers like Houston or Mobile. Covered employment fluctuates with shipping volumes, and the plan covers only ILA Locals 2036 and 3000 rather than the entire port workforce. Combined with a conservative investment strategy, the fund's asset base has grown slowly.
Does the fund offer defined contribution plans in addition to the pension?
The publicly filed Form 5500 covers only the defined benefit pension plan. The New Orleans Stevedoring industry also maintains a separate welfare fund providing health and other benefits, but there is no publicly disclosed 401(k) or DC plan for the covered group.
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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