# Plumbers & Steamfitters Local #81

Plumbers & Steamfitters Local #81 is a Pension Fund based in Syracuse, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Syracuse, United States
- **Region:** North America
- **Address:** 107 Twin Oaks Drive, Syracuse, NY 13206, United States
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

Plumbers & Steamfitters Local #81 administers the pension, insurance, and annuity funds for union plumbers, pipefitters, and HVAC technicians across central New York. In 2013, the former Local 267 merged with Local 73 in Oswego to form the present Local 81, consolidating its jurisdictional footprint. Gregory Lancette serves as Business Manager and fund trustee, while employer trustees from the Mechanical Trades & Master Plumbers Association of CNY provide joint governance — keeping asset-management decisions tied directly to both labor and signatory contractors. The pension fund allocates exclusively to buyout strategies, a concentrated equity orientation for a Taft-Hartley plan. Deployment is executed through manager commitments; the board has historically prioritized relationships with established middle-market private equity firms. Its real property holdings — which serve dual functions as union meeting halls and apprentice-training facilities — form an idiosyncratic direct real estate portfolio spanning Syracuse, Ithaca, Oswego, and Gouverneur. The fund's Training Center in Syracuse, located at 150 Midler Park Drive, anchors a five-year apprenticeship program that supplies journeymen to regional construction sites. Total assets are estimated at $155 million (Altss estimate). The office maintains a satellite presence through training campuses in Ithaca and Oswego. Institutional affiliations reflect a dual operational and investment purpose — Local 81 participates in the Business Council of New York State and sits on the Oswego County Micron Strategy Steering Committee, positioning its beneficiaries for the semiconductor megafab project planned in Clay, New York. The Joint Apprenticeship Training Committee (JATC) operates as a separate committee but draws funding and faculty from the same member base. Structurally, Local 81 exemplifies a joint-labor-management Taft-Hartley plan where investment decisions run through a board of trustees split evenly between union and employer representatives. Michael D. Nanno manages day-to-day fund operations. The fund's real asset strategy — owning the physical infrastructure that trains its own future members, then leasing it back to the training program — creates a built-in, recession-resistant tenant and a direct line of sight from investment performance to workforce development, a structure unusual among small and mid-sized union pension plans.

## Sectors

- Buyout
- Real Estate

## Offices

- Ithaca, NY
- Oswego, NY
- Gouverneur, NY

## People

- Gregory Lancette — Business Manager, Trustee
- Earl R. Hall — Employer Trustee, Executive Director of Mechanical Trades & Master Plumbers Association of CNY
- Michael D. Nanno — Fund Manager

## Questions

### Does Plumbers & Steamfitters Local #81 invest directly in companies or through fund commitments?

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.

### How is Plumbers & Steamfitters Local #81 related to the national UA union?

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.

### What is the contribution base for the Plumbers & Steamfitters Local #81 pension?

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.

### What is the known posture of Plumbers & Steamfitters Local #81 on co-investments?

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.

## Related profiles

- [Plumbers & Pipefitters UA Local 13](https://altss.com/profile/plumbers-and-pipefitters-ua-local-13)
- [Plumbers & Steamfitters Local #7](https://altss.com/profile/plumbers-and-steamfitters-local-7)

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Last updated: 2026-07-06T00:37:14.358Z

Canonical page: https://altss.com/profile/plumbers-and-steamfitters-local-81-formerly-267

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