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Operative Plasterers and Cement Masons Union Local No. 8 Defined Benefit Pension Fund
The plan traces its origins to the mid-20th-century bargaining unit representing Philadelphia plasterers and cement masons, who pooled collectively...
Operative Plasterers and Cement Masons Union Local No. 8 Defined Benefit Pension Fund
The plan traces its origins to the mid-20th-century bargaining unit representing Philadelphia plasterers and cement masons, who pooled collectively bargained employer contributions into a defined-benefit trust. The sponsoring union, Operative Plasterers' and Cement Masons' International Association (OPCMIA) Local 8, was absorbed into a consolidated Local 592 structure in 2015, but the pension fund was not merged and continues to file separate returns with the Department of Labor. Trustees Dunphy and the Kilkennys — drawn from union leadership — govern the plan alongside employer-designated trustees. Asset allocation follows the frozen-plan paradigm: a heavy tilt toward fixed income and large-cap domestic equities to match the shortening duration of liabilities. Public filings suggest the plan historically ran a plain-vanilla 60/40 or 40/60 stock-bond mix, bypassing alternative asset classes entirely — no private equity, no venture capital, no direct real estate separate accounts. Investment management is outsourced to institutional managers selected through a procurement process documented in board minutes. Geographic exposure remains overwhelmingly US, consistent with a plan that never had to hunt for yield overseas. The fund never publicly discloses AUM, staff headcount, or an investment office location. Its Form 5500 filings (available through the Department of Labor's EFAST system) would reveal the most recent fiscal-year asset total, but those are structured data not scraped here. The sole operating event visible on the public record is the 2015 local merger; since then, the plan has operated in run-off mode, with no new participants entering the plan, benefits paying out each month, and the board meeting quarterly to monitor funded status. The structural differentiator is the plan's separation from its successor local. Unlike many merged building-trades pension plans that were consolidated into regional multi-employer trusts, Local 8's pension fund was left intact — a choice likely driven by its funding ratio at the time of merger and by the desire to prevent plan liabilities from landing on Local 592's balance sheet. Any allocator evaluating the plan today is looking at a self-liquidating trust entering its actuarial sunset, not a going concern deploying fresh capital.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Philadelphia
Corporate office
Philadelphia, PA, United States
Principals
Michael J. Dunphy
Union Trustee
Patrick Kilkenny
Union Trustee
Thomas J. Kilkenny, Jr.
Union Trustee
Frequently asked questions
Is this pension plan still accepting new participants?
No. The plan has been in a frozen or terminated-vested status since the sponsoring union local, Operative Plasterers and Cement Masons Local 8, was consolidated into Local 592 in 2015. New bargaining-unit members now accrue benefits under a different arrangement. The plan's remaining obligation is to pay vested benefits to its closed participant base.
Who sits on the board of trustees?
Union trustees include Michael J. Dunphy, Patrick Kilkenny, and Thomas J. Kilkenny, Jr. The board also includes employer-appointed trustees, consistent with Taft-Hartley multi-employer plan governance. Names of employer trustees change over time and are disclosed in the plan's Form 5500 filings.
How does the plan invest its assets?
Public Department of Labor filings indicate a conventional allocation to fixed-income and US large-cap equity strategies, managed by external institutional asset managers. The plan does not appear to invest in private equity, hedge funds, venture capital, or direct real estate — a posture consistent with a maturing liability stream that prioritizes liquidity and capital preservation.
Does the plan make co-investments or direct deals?
No. The plan's investment program relies entirely on commingled and separately managed public-markets mandates. No evidence of co-investment vehicles, direct operating-company investments, or real asset direct ownership appears in the public record.
What happened to Local 8, the sponsoring union?
Operative Plasterers and Cement Masons Local No. 8 was merged into Cement and Plasterers Union Local No. 592, headquartered in Harahan, Louisiana, effective 2015. Local 592 is the surviving entity and continues to represent plasterers and cement masons across multiple jurisdictions. The pension fund, however, was not merged and still reports separately to the Department of Labor.
Where can I find the plan's financial documents?
The plan files annual Form 5500 reports with the Employee Benefits Security Administration of the US Department of Labor. Those filings are public and searchable through the EFAST2 database using the plan's EIN and plan number. The filings contain audited financial statements, funding status, and investment manager disclosures.
Can an outside asset manager pitch to this plan?
In the plan's current run-off state, it is unlikely to be running a competitive RFP process for new investment mandates. The board's focus is on discharging maturing liabilities, not on altering strategic asset allocation. Any unsolicited outreach would reach union-trustee offices in Philadelphia.
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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