Plumbers & Steamfitters Local #81

Investment decisions are governed by a joint board of labor and employer trustees. Gregory Lancette, the Business Manager of Local 81, serves as a labor trustee. Employer trustees include representatives from the Mechanical Trades & Master Plumbers Association of CNY. Day-to-day fund management is handled by Michael D. Nanno, the plan's Fund Manager. The board typically retains an investment consultant to advise on manager selection and asset allocation, though the specific consultant is not publicly disclosed.

The plan deploys exclusively through fund commitments. It does not make direct investments or co-investments in operating companies. The private equity allocation is concentrated entirely in buyout funds, generally targeting lower-mid-market and middle-market general partners.

The plan's disclosed private markets focus is exclusively on buyout funds. As a multiemployer Taft-Hartley plan, its broader portfolio likely includes traditional allocations to public equities, fixed income, and possibly real assets, but the only strategy explicitly confirmed in public record disclosures is buyout. The plan does not publicly disclose its full asset allocation targets.

Local #81 is a chartered local of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry (UA), based in Annapolis, Maryland. The local union negotiates collective bargaining agreements with employers and operates independently, but the pension plan is a Taft-Hartley fund jointly governed by the local union and contributing employers, not directly managed by the UA national.

Employer contributions are negotiated through collective bargaining agreements with signatory contractors, primarily coordinated through the Mechanical Trades & Master Plumbers Association of CNY. Contributions are based on hours worked by union members — plumbers, pipefitters, and HVAC service technicians. The plan's funding health depends on a stable and growing base of active union-covered employment across its Central New York jurisdiction.

Yes. The Plumbers & Steamfitters Local 81 Joint Apprenticeship Training Committee (JATC) runs a five-campus training network that certifies apprentices and journeymen across regions including Syracuse, Ithaca, Oswego, and Gouverneur. While the JATC is funded separately from the pension plan, it sustains the skilled workforce whose employer contributions support the pension.

The plan does not pursue co-investments. Its private equity deployment is limited to buyout fund commitments, reflecting both a small staff and a fiduciary preference for diversified exposure through commingled vehicles. No direct or co-investment activity has been disclosed.