Plumbers & Fitters Local Union 295 Pension Plan

Plumbers & Fitters Local Union 295 Pension Plan

United Association Local Union 295 established its pension plan over a century ago to serve plumbers, pipefitters, and steamfitters in Flagler, Volusia, and Brevard counties. The fund originates from collectively bargained employer contributions tied to industrial, commercial, and residential construction across the Daytona Beach and Space Coast region, including work at Cape Canaveral Space Force Station and Kennedy Space Center. The union's apprenticeship program — a five-year, classroom-plus-field training pipeline — feeds directly into the plan's active contributor base. The pension allocates across a multi-asset portfolio typical of small to mid-sized Taft-Hartley plans: public equities, fixed income, and a growing share of real estate and private market exposures. While individual manager names and specific allocations are not publicly disclosed, peer funds in this asset band commonly engage external consultants to run core-satellite portfolios with limited alternatives allocations. Geographic exposure centers on US markets, with potential domestic real asset holdings tied to regional construction and infrastructure where the membership works, including Florida's Space Coast. Confirmed details on specific investment positions remain undisclosed. The plan's board of trustees — composed of equal union and employer representatives — oversees investment policy, manager selection, and compliance with ERISA standards. Total assets and participant counts are not publicly reported. The fund operates from Daytona Beach, with no additional investment offices. No adjacent vehicles — such as health and welfare or annuity funds — are consolidated under a single published asset pool, though the local runs parallel benefit offices. In May 2026, the union held a health fair at the union hall, reinforcing the integrated benefits model that underpins the pension's liability stream. Where many public pensions face liquidity strain from legacy cost-of-living adjustments and open-records scrutiny, this plan holds a structural differentiator: its benefit obligations grow and shrink with project-based employer contributions tied to a geographically concentrated, highly skilled workforce. The pension's health correlates directly with ongoing construction activity at the Space Coast's federal installations and area development cycles — linking actuarial stability to the local union's bargaining strength rather than broad-market assumptions.