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PacifiCorp Welfare Benefits Plan No. 534
PacifiCorp Welfare Benefits Plan No. 534 is a private sector pension fund based in Portland, US. It manages approximately $244 million in assets, primarily...
PacifiCorp Welfare Benefits Plan No. 534
PacifiCorp Welfare Benefits Plan No. 534 is a private sector pension fund based in Portland, US. It manages approximately $244 million in assets, primarily focused on North America.
General information
Firm type
Pension Fund
Year founded
1994
Location
Region
North America
Country
United States
City
Portland
Corporate office
Portland, OR, United States
Frequently asked questions
What is PacifiCorp Welfare Benefits Plan No. 534 and what does it fund?
It is a single-employer welfare benefit plan maintained by PacifiCorp, an electric utility subsidiary of Berkshire Hathaway Energy. The plan funds post-retirement medical and life insurance benefits for eligible PacifiCorp employees and their beneficiaries. It is not a pension plan — it covers welfare benefits only.
Who manages the plan's investments?
Since 2020, the plan has held no standalone investments. All assets were transferred into the BHE Master Retirement Trust, a commingled investment vehicle managed by Berkshire Hathaway Energy's internal treasury team in Des Moines, Iowa. The plan's fiduciaries do not make direct manager selection or allocation decisions.
Does the plan accept outside capital or co-invest alongside external managers?
No. PacifiCorp Welfare Benefits Plan No. 534 is a closed corporate benefits vehicle. It does not accept external capital, does not participate in co-investment programs, and is not a source of direct investment mandates. All capital flows through the BHE Master Retirement Trust.
What asset classes is the plan exposed to?
The plan's sole investment is a proportional interest in the BHE Master Retirement Trust, which allocates across a diversified portfolio including public equities, fixed income, real estate, and private-market strategies. Specific asset-class weights are not publicly reported at the individual-plan level.
How is the plan governed?
The PacifiCorp Employee Benefits Committee oversees plan administration and has delegated investment authority to the BHE trust structure. The committee retains fiduciary responsibility for ensuring plan assets are prudently managed but does not direct individual investments.
Is this plan the same as the PacifiCorp pension plan?
No. This is a welfare benefit plan, not a qualified retirement or pension plan. It covers post-retirement health and life insurance benefits. PacifiCorp's defined-benefit pension assets were also consolidated into the BHE Master Retirement Trust, but they reside in separate plan structures.
What happened to the plan's assets in 2020?
The plan's assets, previously held in the PacifiCorp Master Retirement Trust, were transferred to the BHE Master Retirement Trust in December 2020. This consolidation eliminated the plan's standalone investment portfolio and brought it under the same trust structure used by multiple Berkshire Hathaway Energy operating-company plans.
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