Updated:
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,...
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.
General information
Firm type
Pension Fund
Year founded
1913
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Daytona Beach
Corporate office
Daytona Beach, Florida, United States
Frequently asked questions
Who runs investment decisions for the Local 295 Pension Plan?
Investment policy and oversight are handled by a board of trustees with equal representation from the union and contributing employers, as is standard for Taft-Hartley multiemployer plans. Day-to-day management is typically delegated to an external investment consultant and line-item managers, though specific appointments have not been publicly disclosed by ua295.org. The board meets regularly to review asset allocation, performance, and fiduciary compliance under ERISA.
How does the plan’s funding relate to the union's construction work?
The pension is funded entirely through employer contributions negotiated in collective bargaining agreements, meaning contribution inflows rise and fall with the volume of construction work performed by Local 295 members. The union's jurisdiction includes federal installations such as Kennedy Space Center and Cape Canaveral, providing a base of project-driven contribution stability. This direct-line model ties plan health to regional infrastructure spending cycles rather than to broader equity or credit market performance alone.
What investment structure does the Local 295 Pension Plan use?
As a Taft-Hartley multiemployer defined-benefit plan, the fund does not operate like a single-family office or venture firm — it pools employer contributions into a professionally managed portfolio to meet monthly benefit checks for retired plumbers and pipefitters. Public filings are not available, but peer small-pension plans commonly use commingled institutional funds, separate accounts, and limited direct real estate or private-market commitments. The plan is not known to co-invest alongside external GPs or participate in direct venture deals.
What is the plan's known posture on alternative investments?
Publicly available details are absent, but peers in this pension band have trended toward modest allocations to real estate, infrastructure, and private credit to diversify away from core fixed-income exposures. Given the local workforce's involvement in large-scale space and federal construction, any real-asset sleeve may have a domestic, infrastructure-skewed tilt, though no published commitments or manager names confirm this. The absence of disclosed positions suggests a consultant-driven approach with limited direct deal activity.
How is the Local 295 Pension Plan separated from the union's other benefit programs?
The pension plan is legally distinct from the local's health and welfare fund and its apprenticeship training trust, each operating with separate boards, assets, and fiduciary duties under ERISA. ua295.org maintains separate portals and contacts for pension, health, and training benefits, indicating no commingling of participant assets. Contribution rates and benefit formulas are negotiated independently within collective bargaining contracts.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: