Sheet Metal Workers Local #20

Sheet Metal Workers Local #20

Sheet Metal Workers Local #20 administers the retirement and benefit funds for sheet metal workers and their families across central Indiana. The fund, affiliated with the International Association of Sheet Metal, Air, Rail and Transportation Workers (SMART), is overseen by Business Manager Trent L. Todd and President Scott W. Koning. The plan's wealth originates from member and employer contributions tied to collective bargaining agreements across the region's construction and fabrication sectors. The fund allocates capital across a mix of asset classes. Publicly recorded commitments reveal a focus on buyout strategies and corporate bonds, supplemented by direct real asset holdings. The pension owns five training facilities in Indianapolis, Evansville, Portage, Fort Wayne, and South Bend — operating assets that serve the joint apprenticeship program with Ivy Tech Community College. The fund also holds revenue bonds tied to Indianapolis municipal projects, reflecting a dual posture of yield-seeking fixed income and community-aligned infrastructure exposure. The plan's structure is embedded within the broader labor ecosystem. Local 20 participates in the Central Indiana Building Trades Council and the national AFL-CIO labor federation, while maintaining industry ties through SMACNA, the contractors' trade group. The Sheet Metal Workers Local 20 Apprenticeship & Training Trust and the Welfare and Benefit Fund operate as parallel vehicles, funding workforce development and member health coverage respectively. The training facilities serve as both operational assets and long-term commercial real estate holdings. The fund's architecture is defined by its Taft-Hartley multi-employer structure, governed by a board of trustees split equally between union and employer representatives. This governance model means investment decisions reflect a consensus between labor and contributing contractors, making the capital deployment inherently tied to the health of the Central Indiana sheet metal trade and the unionized construction pipeline.