Plumbers & Steamfitters Local 118 Pension Plan

Plumbers & Steamfitters Local 118 Pension Plan

The Plumbers & Steamfitters Local 118 Pension Plan operates as a multi-employer defined-benefit fund for UA Local 118 members in Kenosha, Racine, and Walworth Counties. Established alongside the local union in 1893, the plan's funding comes entirely from hourly employer contributions negotiated in collective bargaining agreements, not from employee salary deferrals or corporate profit-sharing. The union’s training center in Sturtevant, Wisconsin, ensures a steady pipeline of skilled pipe trades professionals whose work supports the contributions that sustain the plan. Asset-class specifics, deployment pacing, and current funded-status ratios are not disclosed on the plan’s public website. No Form 5500 analysis, actuary report, or public board meeting minutes were available among the sources consulted to confirm target allocations, external manager rosters, or specific alternative-asset commitments. Administration rests with BeneSys, Inc., a third-party firm formed via the merger of BPA of Wisconsin and other benefits administrators, which handles recordkeeping and compliance for multiple Taft-Hartley plans. The plan lists a business manager and office manager based in Kenosha, as well as a training director and apprenticeship coordinator in Sturtevant, but does not publish an investment committee roster or CIO biography. No named portfolio companies, co-investment partners, or direct real-asset holdings were identified. Distinct from public pensions or state-run systems, this trust's governance is defined by an equal number of union and management trustees — a hallmark of Taft-Hartley architecture. The plan’s investment posture, whatever it may be, is shaped by the Department of Labor’s ERISA fiduciary standards and the funding needs of a mature workforce in the mechanical trades, not by an endowment model or a family’s intergenerational wealth transfer strategy.