# Pension Plan for Employees of Phipps Houses and Affiliates

Pension Plan for Employees of Phipps Houses and Affiliates is a Pension Fund based in New York, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Assets under management:** Undisclosed
- **Website:** www.phippsny.org
- **LinkedIn:** https://www.linkedin.com/company/phippshouses

## Regulatory record

- **Reports private funds:** No

## About

The Pension Plan for Employees of Phipps Houses and Affiliates serves as the retirement vehicle for the staff of Phipps Houses, a nonprofit developer and manager of affordable housing founded in 1905 and now responsible for thousands of residential units in New York City. The plan is sponsored directly by Phipps Houses and administered by its Employee Benefit Plan Management Committee. Adam Weinstein leads the parent organization as President and CEO, while David S. Chao, Vice President and Chief Investment Officer, chairs the plan's Investment Committee. As a defined-benefit plan, the fund is structured to provide monthly retirement payments based on years of service and compensation, positioning it as a long-horizon institutional investor. The plan's assets are managed alongside Phipps Houses' broader consolidated assets, which include properties at 921 Melrose Avenue in the Bronx and 3299 Atlantic Avenue in Brooklyn, among other holdings. The plan reports under the governance of Phipps Houses' executive leadership, with CFO Lukeman Ogunyinka overseeing financial management. The plan does not publicly disclose total assets or a detailed asset-allocation breakdown, maintaining the limited transparency common among corporate defined-benefit plans that are not subject to public-records reporting. This pension plan's structural differentiator is its embeddedness within a vertically integrated nonprofit operating company. Unlike a pooled municipal fund or a multi-employer plan, every investment decision occurs within an organization that originates, owns, and manages the underlying real assets that generate plan contributions. That architecture ties the plan's funded status directly to the operating performance of a single-sector, single-metro portfolio — a concentration risk balanced by the sponsor's century-long history and deep policy ties.

## Sectors

- Real Estate
- Infrastructure

## People

- Adam Weinstein — President and CEO of Phipps Houses; Chairman of Phipps Neighborhoods
- David S. Chao — Vice President and Chief Investment Officer of Phipps Houses; Chairs the Investment Committee
- Lukeman Ogunyinka — Chief Financial Officer of Phipps Houses

## Questions

### Who runs investment decisions for the Phipps Houses pension plan?

David S. Chao, Vice President and Chief Investment Officer of Phipps Houses, chairs the plan's Investment Committee. The plan is administered by the Employee Benefit Plan Management Committee of Phipps Houses. CEO Adam Weinstein leads the parent organization.

### What type of pension plan is this?

It is a defined-benefit plan. Participants receive a monthly retirement benefit calculated using a formula based on years of credited service and compensation. The plan is sponsored by Phipps Houses, a nonprofit housing developer.

### What is the relationship between Phipps Houses and the pension plan?

Phipps Houses is the plan sponsor. The plan provides retirement benefits exclusively to employees of Phipps Houses and its affiliates. The parent organization is a nonprofit founded in 1905 that develops and manages affordable housing in New York City.

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Last updated: 2026-08-11T02:43:31.692Z

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