Perini Corporation Pension Plan

Perini Corporation Pension Plan

The Perini Corporation Pension Plan is a noncontributory, defined-benefit plan administered in connection with Tutor Perini Corporation, the publicly traded civil, building, and specialty construction firm with more than a century of operating history. Ronald N. Tutor, Chairman and CEO, sits at the top of the corporate structure that oversees the plan, alongside Lead Independent Director Michael R. Klein and President Robert Band — both of whom serve on the Compensation Committee with pension oversight duties. Raymond R. Oneglia, Vice Chairman of O&G Industries, also holds a committee seat. The pension portfolio's construction-defensive posture surfaces in the parent company's project book: civil infrastructure (the $1.4B SR 99 Tunnel in Seattle, the $1.2B Third Street Light Rail Central Subway in San Francisco), large-scale building (Hudson Yards, the $6.4B CityCenter Las Vegas), and specialty contracting across US urban markets. The plan operates from Sylmar, California, without separate investment staff visibility. Governance runs through the corporate board, with Klein and Oneglia on the Compensation Committee providing oversight. The plan's size and deployment figures remain undisclosed. Its structural differentiator is its tight coupling to an active construction enterprise. Rather than insulating assets in a diversified fund-of-funds structure, the plan's fortunes are bound to the credit quality and project backlog of a single operating company — a posture more common among old-line industrial pension plans than modern institutional allocators. This link means plan health is directly exposed to Tutor Perini's project execution, bonding capacity, and the US infrastructure spending cycle.