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SMART Local Unions & Councils Pension Plan
The SMART Local Unions & Councils Pension Plan is the defined-benefit vehicle for workers represented by the International Association of Sheet Metal, Air,...
SMART Local Unions & Councils Pension Plan
The SMART Local Unions & Councils Pension Plan is the defined-benefit vehicle for workers represented by the International Association of Sheet Metal, Air, Rail and Transportation Workers (SMART). The fund operates under a Taft-Hartley structure, jointly trusteed by union and contributing employer representatives. Its Board of Trustees includes former SMART General President Joseph Sellers, Jr. and General Secretary-Treasurer Joseph Powell, who oversee the plan's investment and administrative policies from the fund's headquarters in Washington, D.C. The fund's investment program is broadly diversified. Public records and property filings indicate direct equity ownership in at least two office properties: the United Unions Building at 1750 New York Avenue NW in Washington, D.C., and 501 Greenwich Street in New York's Hudson Square neighborhood. Beyond direct real estate, the plan invests through pooled vehicles across public equities, fixed income, private equity, and private credit, maintaining a standard multi-asset pension allocation that prioritizes stable returns to meet its long-term benefit obligations for retired sheet metal and transportation workers. The SMART International Association is affiliated with both the AFL-CIO and North America's Building Trades Unions (NABTU), placing the fund within the broader network of U.S. building-trades pension capital. A sister fund, the SMART Local Unions and Councils Pension Fund (Canada), serves the union's Canadian locals and shares the same labor-union heritage, though the two are separately governed and capitalized. No recent strategy shifts or operational events have been publicly documented. The plan's structural identity is a classic multi-employer Taft-Hartley fund: contributions are negotiated through collective bargaining agreements rather than drawn from a single corporate sponsor's balance sheet. This architecture creates a distinct liability profile and an investment horizon tied to the union's active membership base and negotiated hourly contribution rates. The fund's potential withdrawal liability framework under ERISA also shapes its posture as a long-term institutional investor.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Washington
Corporate office
1750 New York Ave NW, Washington, DC 20006, United States
Principals
Joseph Sellers, Jr.
Trustee
Joseph Powell
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at the SMART Local Unions & Councils Pension Plan?
Investment decisions are overseen by trustees drawn from SMART's leadership, including Joseph Sellers, Jr. (former General President of SMART) and Joseph Powell (General Secretary-Treasurer of SMART). The fund does not publicly name a standalone CIO or investment committee, suggesting governance is handled internally with potential external advisor support (per public record).
Is the SMART Local Unions & Councils Pension Plan a single-employer or multi-employer pension fund?
It is a multi-employer pension plan, pooling contributions from hundreds of local unions and councils affiliated with the SMART International Association across the United States. This structure distributes funding risk across multiple employers rather than tying benefits to a single corporate sponsor (per the firm's official communications).
What types of assets does the fund invest in?
The fund maintains a diversified portfolio that includes commercial real estate — notably the United Unions Building in Washington, D.C. and 501 Greenwich Street in New York City — along with pooled investment vehicles. The specific allocation across asset classes such as equities, fixed income, or alternatives is not publicly disclosed (per public record).
Does the SMART Local Unions & Councils Pension Plan have a sister fund in Canada?
Yes, the SMART Local Unions and Councils Pension Fund (Canada) is a related entity serving Canadian local unions and councils. Both funds operate under the umbrella of the SMART International Association but are separate legal entities with distinct membership bases (per public record).
How is the fund related to the AFL-CIO and NABTU?
The SMART International Association, which sponsors the pension plan, is affiliated with both the AFL-CIO and North America's Building Trades Unions (NABTU). This affiliation provides the fund with access to broader labor-union investment networks and advocacy channels, though the fund itself operates independently (per public record).
Is the fund's AUM or total deployment publicly known?
No. The SMART Local Unions & Councils Pension Plan does not publicly disclose its assets under management, total deployment, or annual contributions. This lack of transparency is common among smaller multi-employer pension funds that are not required to file SEC reports (per public record).
What is the fund's investment stage focus — direct deals or fund commitments?
Based on its known holdings in commercial real estate and pooled investment vehicles, the fund appears to use a blend of direct property ownership and external fund investments. It does not publicly disclose a co-investment or direct-deal program, and its portfolio suggests a more traditional institutional approach focused on long-term, income-generating assets (per public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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