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Carpenters Services Administrative Corporation
Southern Alaska Carpenters Retirement Plan functions as a defined-benefit multi-employer pension fund for union carpenters in the Western States region.
Carpenters Services Administrative Corporation
Southern Alaska Carpenters Retirement Plan functions as a defined-benefit multi-employer pension fund for union carpenters in the Western States region. Anthony Pena serves as Co-Chair of the Board of Trustees, and the plan operates under collective bargaining agreements between the United Brotherhood of Carpenters and Joiners of America and the Associated General Contractors of Alaska. The plan was certified as being in critical status in 2019 because of funding or liquidity shortfalls, which required the trustees to adopt a rehabilitation plan (per Altss research). Investment stewardship flows through the Carpenters Services Administrative Corporation (CSAC), which also oversees the health and welfare, vacation, and Southwest Annuity plans for the same membership. The retirement plan's assets include direct positions in the ASB Allegiance Real Estate Fund, an American Realty Advisors commercial property vehicle, common/collective trusts, and partnership/joint venture interests with global exposure. CSAC's Los Angeles and Seattle offices handle participant services, while Empower administers the recordkeeping for the affiliated Southwest Carpenters Annuity Fund. The plan does not publicly disclose total AUM or staff headcount. Its participant-facing infrastructure — the MemberXG portal, quarterly "Blueprint" newsletter, and virtual office visits — signals a heavy operational emphasis on benefits delivery rather than external fundraising or co-investment sourcing. The fund remains closely tied to the United Brotherhood of Carpenters' Western States Regional Council, which negotiates the master labor agreements that generate employer contributions. The 2019 critical-status certification is the plan's defining structural marker. Multi-employer plans in critical status operate under Pension Protection Act rules that restrict benefit accruals and can impose surcharges on contributing employers, altering the long-term risk calculus for anyone evaluating the pool. No successor rehabilitation outcome or updated status finding has been publicly reported as of the current review.
General information
Firm type
Pension Fund
Year founded
1987
Location
Region
North America
Country
United States
City
Los Angeles, CA
Corporate office
Mercer Island, AK, United States
Principals
Anthony Pena
Co-Chair of the Board of Trustees
Frequently asked questions
What does the 2019 critical status mean for the plan's funded ratio?
Critical status is a regulatory designation under the Pension Protection Act that indicates a multi-employer plan is projected to face funding or liquidity problems. The Southern Alaska Carpenters plan was certified critical in 2019, which requires a rehabilitation plan from the trustees. The plan has not published its current funded ratio or any subsequent reclassification, so the post-2019 funding trajectory remains opaque to outside observers.
Who controls investment decisions for the pension plan?
The Board of Trustees, co-chaired by Anthony Pena, bears fiduciary responsibility for investment policy. Day-to-day asset management is delegated to external managers — disclosed holdings include the ASB Allegiance Real Estate Fund and an American Realty Advisors vehicle. The plan's administrative arm, CSAC, does not list an internal CIO or investment staff.
How is the plan related to the Carpenters Services Administrative Corporation?
CSAC is the administrative corporation that runs the Southern Alaska Carpenters Retirement Plan along with the carpenters' health and welfare, vacation, and Southwest Annuity plans. CSAC employs the staff in Los Angeles and Seattle who handle eligibility, pension credits, and benefit payouts, but the retirement plan remains a legally distinct trust fund governed by its own trustees.
Does the plan invest directly or only through funds?
Known positions indicate both. Disclosed commitments include fund investments like ASB Allegiance and American Realty Advisors, plus common/collective trusts and partnership/joint venture interests. No data confirms direct company equity or debt positions outside pooled vehicles.
What is the plan's geographic exposure?
The union membership is concentrated in Alaska and the broader Western States region, but the trust's assets reach globally through partnership and joint venture interests. The ASB Allegiance holding is a diversified US mixed-use property fund, while the American Realty Advisors mandate targets US commercial real estate.
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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