# Retail, Wholesale & Department Store International Union (RWDSU)

Retail, Wholesale & Department Store International Union (RWDSU) is an Union Pension Fund based in Birmingham, United States.

## Overview

- **Organization type:** Union Pension Fund
- **Headquarters:** Birmingham, United States
- **Region:** North America
- **Address:** Birmingham, AL, United States
- **Founded:** 1937
- **Assets under management:** Undisclosed
- **Website:** rwdsu.org
- **LinkedIn:** https://www.linkedin.com/company/retail-wholesale-&-department-store-union

## Regulatory record

- **Reports private funds:** No

## About

The Retail, Wholesale & Department Store International Union (RWDSU) operates its pension and welfare funds out of Birmingham, Alabama, under the chairmanship of Stuart Appelbaum, the union's president since 1998. RWDSU functions as a semi-autonomous division of the United Food and Commercial Workers (UFCW) and is an affiliate of the national AFL-CIO federation. Its benefit funds — the RWDSU International Union and Industry Pension Fund and the corresponding Health and Welfare Fund — serve retired members across the retail, wholesale, and department-store sectors. The union also maintains a headquarters condominium in New York City and a real estate holding associated with its Local 338 in Mineola, New York. The pension fund deploys capital solely through buyout strategies, making commitments to private equity funds that acquire controlling stakes in established businesses. While specific fund commitments and portfolio allocations are not publicly disclosed, the union's pension allocations sit within the broader labor-affiliated institutional investor ecosystem that has historically backed large-cap and middle-market buyout managers. RWDSU's investment posture appears focused on generating the actuarial returns required to meet long-term benefit obligations for its membership base, with no publicly tagged venture, real-asset, or direct co-investment programs. RWDSU's governance structure places Appelbaum at the center as Chairman of the Board of Trustees, a role he holds alongside his presidency of the union itself. Appelbaum is also President of UNI Global Commerce, a global union federation, and serves on the Democratic National Committee Executive Committee and the Executive Council of the Conference of Presidents of Major American Jewish Organizations. The union's broader institutional affiliations — notably its semi-autonomous relationship with the UFCW — provide a network through which it may participate in labor-friendly investment initiatives. Adjacent philanthropic structures include the Alvin E. Heaps Scholarship Fund and Local 338 Charities, Inc. What distinguishes RWDSU from a generic labor pension fund is its deep integration with global union governance. Appelbaum simultaneously leads the benefit funds, the domestic union, and the global commerce sector of UNI Global Union, creating a rare concentration of influence across labor, politics, and institutional investment. This multi-role structure may shape the fund's posture toward manager selection and proxy voting in ways that differ from funds governed by independent professional trustees.

## Sectors

- Buyout

## Offices

- New York, NY

## People

- Stuart Appelbaum — Chairman of the Board of Trustees
- Stuart Appelbaum — President, RWDSU

## Questions

### Who runs investment decisions at the RWDSU Benefit Funds?

Stuart Appelbaum serves as Chairman of the Board of Trustees for the RWDSU International Union and Industry Pension Fund and the corresponding Health and Welfare Fund. He has held the presidency of the RWDSU since 1998, giving him long-standing influence over both the union's organizing operations and its benefit fund governance. The fund's specific investment committee composition and whether it retains an external consultant are not publicly documented.

### How is the RWDSU Benefit Fund related to the UFCW?

RWDSU is a semi-autonomous division of the United Food and Commercial Workers International Union (UFCW). The UFCW is one of the largest private-sector unions in North America. While the RWDSU maintains its own pension and welfare funds, its affiliation with the UFCW places it within a broader labor-capital network. The UFCW also operates its own charity foundation.

### What is Stuart Appelbaum's role beyond the RWDSU?

Appelbaum is President of UNI Global Commerce, the global union federation for retail and commerce workers, and serves on the Democratic National Committee Executive Committee. He also sits on the Executive Council of the Conference of Presidents of Major American Jewish Organizations and is a board member of the Latino Victory Fund. His spouse, Michihito Osawa, is a Business Analyst at MUFG Bank.

### Where are the RWDSU Benefit Funds domiciled?

Both the RWDSU International Union and Industry Pension Fund and its Health and Welfare Fund are based in Birmingham, Alabama. The union itself maintains operational offices in New York City, including a headquarters condominium at 370 7th Avenue, and a real estate holding tied to Local 338 in Mineola, New York.

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- [Retail Employees Superannuation Trust](https://altss.com/profile/retail-employees-superannuation-trust)
- [Retirement Accumulation Plan for Partners of PwC](https://altss.com/profile/retirement-accumulation-plan-for-partners-of-pwc)

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

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