SIU Pacific District Pension Plan

SIU Pacific District Pension Plan

The plan serves merchant mariners represented by the SUP, an AFL-CIO affiliate founded on San Francisco's Folsom Street Wharf in 1885. It operates as a traditional defined-benefit fund, offering Deferred Vested Pensions and Pensions Vesting at Retirement tied to work history and pay. Contributing employers include Matson Navigation Company, APL Marine Services, and others bound by union contracts that cover base wages, overtime, and supplemental benefit wages. The plan holds a mix of assets spanning corporate stocks, mutual funds, and registered investment companies. Within real estate, it maintains a position in UBS Trumbull Property Fund, a US mixed-use vehicle. The fund's deployment geography remains domestic, anchored to the US West Coast and Hawaii trade routes where SUP members crew vessels. No specific portfolio allocations or total asset figures have been publicly disclosed. The plan functions under the umbrella of the SUP's broader retirement framework alongside the Chevron-SUP Marine Pension Plan and ExxonMobil integration agreements. It shares governance ties with the San Francisco Bar Pilots and affiliated unions including the Marine Firemen's Union and the Seafarers International Union. The SUP's elected leadership — President Matt Henning, Vice-President Sam Worth, and branch agents in Seattle, Wilmington, Honolulu, and San Francisco — provide oversight, though the plan's trustee board is not publicly itemized on the plan's site. The plan's structural differentiator is its integration with mariner-specific collective-bargaining coverage, where pension contributions are bargained alongside base wages, overtime guarantees, and cost-of-living adjustments through direct negotiations with vessel-operating companies like APL and Matson. This embeds retirement security into the same labor agreements that govern safety standards, internet access, and hiring-hall rules — a model distinct from corporate or public-sector retirement plans.