NYCDCC Pension Plan

NYCDCC Pension Plan

The New York City District Council of Carpenters established its pension plan in 1955 to provide retirement, disability, and death benefits to its members. The plan remains a cornerstone of the union's benefits system, directly tied to the collective bargaining strength of the New York City District Council of Carpenters and its parent organization, the United Brotherhood of Carpenters and Joiners of America. The fund's size and activity are a direct reflection of labor's role in New York's built environment. The plan deploys capital across a conspicuously broad mandate that includes buyout, venture capital, growth equity, distressed debt, mezzanine, and special-situations strategies. It operates through a mix of direct investments and fund-of-funds commitments. On the real estate side, the plan owns a direct interest in the mixed-use property at 395 Hudson Street in Manhattan, while also participating in institutional vehicles like the AFL-CIO Building Investment Trust. This structure creates a portfolio anchored by tangible New York assets and diversified across fund managers. The plan's governance is led by a board of trustees that includes Joseph A. Geiger, Executive Secretary-Treasurer of the NYCDCC, and David J. Meberg, who serves as Management Trustee and Co-Chairman. In February 2026, Olivia Cuggy was appointed Executive Director to oversee the fund's daily operations and investment implementation. The benefit fund office operates through the central hub at nyccbf.com, which also administers other welfare and training funds for the union's membership. Unlike a corporate or public pension fund, the NYCDCC Pension Plan's investment horizon is intrinsically linked to union membership trends and the project pipeline for unionized labor in New York City. Its dual posture as both a direct property owner and a limited partner in external private-market funds differentiates it from peers that rely entirely on third-party managers, giving the trustees a direct line of sight to a portion of the plan's physical asset base.