# South Florida Electrical Workers Pension Plan

South Florida Electrical Workers Pension Plan is a Pension Fund based in Fort Myers, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Fort Myers, United States
- **Region:** North America
- **Address:** 17221 Alico Center Road, Suite 1, Fort Myers, FL 33967
- **Founded:** 1968
- **Assets under management:** Undisclosed
- **Website:** www.ibew349.net

## Regulatory record

- **Reports private funds:** No

## About

The South Florida Electrical Workers Pension Plan provides retirement benefits to eligible members of IBEW Local Union 349, the Fort Myers-based electrical workers' affiliate. The plan's fund office is administered by Southwest Service Administrators, Inc., and its physical address aligns with the union hall on Alico Center Road. The Pension Protection Act of 2006 forced the plan's trustees to adopt a rehabilitation schedule after its funded status deteriorated; the specific terms and current zone status are not publicly detailed. The plan's known investment posture centers on a direct real estate allocation. Its portfolio includes the ASB Allegiance Real Estate Fund, a core, open-ended US mixed-use vehicle, alongside a separate North American core real estate portfolio. No public records of commitments to private equity, venture capital, or hedge fund vehicles were located. Asset-class diversification beyond real estate remains undisclosed. Plan administration sits with William Riley, operating from the Fort Myers union office. Southwest Service Administrators provides back-office support, while the Joint Industry Board of the Electrical Industry maintains an association with the plan's sponsorship structure. The plan has not publicly reported headcount, total assets, or recent actuarial funded-ratio figures. A Philadelphia multiemployer pension rescue package passed in 2021 may eventually reshape the plan's regulatory standing, though specific grant or relief amounts tied to this plan have not been published. As a single-union, single-local plan, the South Florida Electrical Workers Pension Plan exists at the smallest scale tier of the multiemployer universe. Its structure ties asset management directly to the health of a single local's bargaining agreements, making contribution inflows sensitive to construction-cycle shifts in southwest Florida. No separate foundation or adjacent charitable vehicle has been disclosed.

## Sectors

- Real Estate

## People

- William Riley — Plan Administrator

## Questions

### What is the plan's current funded status under the Pension Protection Act?

The plan was certified as critical—also called 'red zone'—in 2018. That designation triggers a rehabilitation plan designed to improve funding levels over a set period. Updated zone certifications are filed annually with the Department of Labor, but this plan's subsequent filings have not surfaced in public aggregators.

### How is the plan administered, and who runs it?

The plan administrator is William Riley. Day-to-day fund-office administration is handled by Southwest Service Administrators, Inc., a third-party administrator active in Taft-Hartley plans. The plan operates alongside IBEW Local 349's union hall in Fort Myers.

### What asset classes does the plan invest in?

The only publicly documented holdings are in core US real estate: the ASB Allegiance Real Estate Fund and a separate North American core real estate portfolio. We found no public records of venture, private equity, or hedge fund commitments.

### Is this a single-employer plan or a multiemployer plan?

It is a multiemployer defined-benefit plan, collectively bargained between IBEW Local 349 and participating electrical contractors. Contribution rates are set through union contracts.

### Does the plan have any co-investment or fund-of-funds relationships?

No such relationships are publicly documented. The known investments are held directly, and no separate fund-of-funds or co-investment vehicles appear in regulatory filings or property records.

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

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