# Pension Plan of the Welfare & Pension Fund Mid-Jersey Trucking

Pension Plan of the Welfare & Pension Fund Mid-Jersey Trucking is a Pension Fund based in North Brunswick, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** North Brunswick, United States
- **Region:** North America
- **Address:** 2003 US Route 130, Suite A, North Brunswick, NJ 08902
- **Founded:** 1958
- **Assets under management:** $300M–$350M (Altss estimate)
- **Website:** teamsterslocal701.org

## Regulatory record

- **Reports private funds:** No

## About

The Pension Plan of the Welfare & Pension Fund Mid-Jersey Trucking was established in 1958 as a defined-benefit plan covering members of Teamsters Local 701, a union representing truck drivers and warehouse workers across New Jersey. Ronald Lake serves as president of the local and authorized trustee of the fund, with Giancarlo Prezioso as fund manager. The wealth originates from multi-employer contributions, though the fund has navigated complex relationships with major contributors like Yellow Corporation, which has a history of contribution deferrals and withdrawal liability litigation. Unlike most pension funds that allocate heavily to public equities and investment-grade bonds, Mid-Jersey Trucking has concentrated its strategy in mezzanine financing and private credit. This means the fund provides subordinated debt to middle-market companies, often in structured transactions that sit between senior bank loans and equity. It shares back-office infrastructure and personnel with the Bakery Drivers Local 194 Pension Fund and the Teamsters Local 418 Pension Fund, creating an informal co-investment cluster among New Jersey Teamster funds. A known unrelated asset is the fund's own office building at 2003 US Route 130 in North Brunswick. The fund has not publicly disclosed its total professional headcount or full portfolio breakdown. Its estimated $328M asset base (Altss estimate) places it in the small to mid-tier of US multi-employer plans. Related union associations include Teamsters Joint Council 73, where Ronald Lake serves as Recording Secretary, embedding the fund in a broader regional labor governance structure. No new fund launches or structural reorganizations have been publicly reported in the last 24 months. Its structural differentiator is an artificial concentration: rather than diversifying across asset classes like a typical institutional investor, the fund has made a single-strategy bet on mezzanine credit.

## Sectors

- Mezzanine
- Private Credit

## People

- Ronald Lake — President of Teamsters Local 701 and Authorized Trustee
- Giancarlo Prezioso — Fund Manager

## Questions

### Who runs investment decisions at the Mid-Jersey Trucking pension fund?

Giancarlo Prezioso serves as the Fund Manager for the Teamsters Local 701 Benefit Funds, handling day-to-day investment operations. Ronald Lake, as President of Teamsters Local 701 and Authorized Trustee, holds ultimate fiduciary authority over the pension plan. Investment decisions are governed by ERISA and subject to trustee board approval.

### What is the fund's primary investment strategy?

The fund concentrates heavily in mezzanine debt, providing subordinated financing to middle-market companies. This is unusual for a multi-employer pension plan, as most comparable Taft-Hartley funds allocate predominantly to public equities, investment-grade bonds, and real estate. The mezzanine strategy generates current yield while sitting higher in the capital structure than pure equity.

### What regulatory oversight applies to this pension plan?

As a Taft-Hartley multi-employer defined-benefit plan, it is governed by ERISA and must file annual Form 5500 reports with the Department of Labor. It is also subject to PBGC multi-employer insurance program rules. Union trustees and employer trustees serve as co-fiduciaries under a joint board structure typical of Teamster-affiliated plans.

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

Canonical page: https://altss.com/profile/pension-plan-of-the-welfare-pension-fund-mid-jersey-trucking

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