# Puget Sound Electrical Workers Pension Plan

Puget Sound Electrical Workers Pension Plan is a Pension Fund based in Seattle, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Seattle, United States
- **Region:** North America
- **Address:** Seattle, WA, United States
- **Founded:** 1973
- **Assets under management:** Undisclosed
- **Website:** www.pse.com

## Regulatory record

- **Reports private funds:** No

## About

The Puget Sound Electrical Workers Pension Plan was established in 1973 as a jointly trusteed Taft-Hartley fund, with the Puget Sound Chapter of the National Electrical Contractors Association (NECA) and International Brotherhood of Electrical Workers (IBEW) Local 46 acting as co-sponsors. Labor-side representation on the board comes through IBEW Local 46 President Warren R. Shill, while Barry Sherman of NECA serves as Chairman of the Board of Trustees. The plan covers eligible IBEW electricians across the greater Seattle metropolitan area. The fund allocates across three observable sleeves. A real-asset bucket holds direct commercial property interests in the Pacific Northwest and Mountain West alongside pooled commitments to the Washington Capital Joint Master Trust Real Estate Equity Fund. The fixed-income allocation emphasizes an investment-grade debt portfolio intended to match liability duration, and a global-tactical sleeve maintains cash reserves for near-term benefit payments. Specific real-property exposures include REEF Parkway LLC in Salt Lake City, Utah, and REEF Crown Valley LLC in Mission Viejo, California, underscoring a bias toward stabilized, income-producing commercial assets. The plan operates without a standalone investment staff; governance and asset-allocation decisions rest with the joint board of trustees and their contracted consultants. In addition to the NECA-IBEW partnership embedded in its trust structure, the plan participates in the broader institutional-labour ecosystem without public club or network affiliations beyond the core bargaining-table relationships. The website does not disclose total asset size or professional headcount. Structurally, the fund sits as a classic multi-employer defined-benefit plan rather than a separately incorporated family-office or private-investment vehicle. Its investment posture is shaped by ERISA fiduciary duties and the negotiated contribution schedules of its two sponsoring organizations, making liability matching — not AUM growth or direct co-investment — the dominant portfolio-design constraint.

## Sectors

- Real Estate
- Infrastructure
- Private Credit

## People

- Barry Sherman — Chairman of the Board of Trustees
- Warren R. Shill — Trustee, President of IBEW Local 46

## Questions

### Who runs investment decisions at Puget Sound Electrical Workers Pension Plan?

A joint board of trustees makes investment decisions. Barry Sherman of the National Electrical Contractors Association (NECA) chairs the board, and Warren R. Shill, President of IBEW Local 46, serves as a labor-side trustee. Day-to-day portfolio management is outsourced to consultants and external managers.

### How does the plan source its real estate investments?

The plan owns direct commercial property such as REEF Parkway LLC in Salt Lake City and REEF Crown Valley LLC in Mission Viejo, California. It also pools capital into commingled real estate vehicles including the Washington Capital Joint Master Trust Real Estate Equity Fund, which is based in Seattle.

### Is this a single-employer or multi-employer pension plan?

It is a multi-employer Taft-Hartley defined-benefit plan. Co-sponsors are the Puget Sound Chapter of NECA and IBEW Local 46, which represent the contributing employers and union members respectively.

### Does the plan report its total assets publicly?

No. The plan does not disclose a total asset value on its website or in publicly accessible filings used for this profile. Asset size is treated as undisclosed unless a subsequent Form 5500 audit provides a verifiable number.

### What role does IBEW Local 46 play in the plan’s governance?

IBEW Local 46 is the labor co-sponsor and appoints trustees to the board. President Warren R. Shill is a named trustee, ensuring union representation in benefit design and asset-allocation decisions alongside the employer-appointed trustees from NECA.

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- [Puente](https://altss.com/profile/puente-asesoramiento-de-inversiones)
- [Puhe Capital](https://altss.com/profile/puhe-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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