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St Paul Electrical Construction Pension Plan
The St. Paul Electrical Construction Pension Plan is a multiemployer defined-benefit plan established for members of IBEW Local Union No. 110.
St Paul Electrical Construction Pension Plan
The St. Paul Electrical Construction Pension Plan is a multiemployer defined-benefit plan established for members of IBEW Local Union No. 110. Employer contributions — not participant deferrals — fund the trust, and benefit accrual is tied to years of vesting and credited service in covered electrical-construction employment. The plan is administered alongside a suite of related labor-management trusts, including a supplemental pension plan and a retirement medical funding vehicle, all managed through the St. Paul Electrical Industry Administrative Service Corporation (SPEIASC). The investment mandate spans private and public markets. In private markets, the plan uses a fund-of-funds structure that reaches buyout, growth-equity, and turnaround strategies. Its direct portfolio includes a commercial real-estate allocation, with properties located in the United States. On the public side, the trust holds cash, fixed-income, and hedge-fund commitments. The plan is a signatory to the Electrical Industry National Reciprocity Agreement, which preserves benefit portability for traveling union electricians across participating IBEW pensions nationwide. The St. Paul Electrical Workers Supplemental Pension Plan and the Retirement Medical Funding Plan operate as parallel trusts under the same administrative umbrella, allowing for rollovers and retiree health coverage respectively. These vehicles are served by the SPEIASC administrative office, which also manages a separate 401(k) plan, apprenticeship and vacation funds, and the health and welfare program for Local 110 members. No named investment staff or board trustees are publicly identified. The plan's structural differentiator is its reciprocity framework. Unlike a corporate or public pension, this trust is embedded in a national network that allows a mobile workforce — electricians who work across jurisdictions — to maintain continuous benefit accrual. The reciprocity agreement means the fund's liabilities and actuarial assumptions are partially influenced by the migratory patterns of IBEW construction labor, a feature absent from most single-employer plans.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
St. Paul
Corporate office
St Paul, MN, United States
Sector focus
Frequently asked questions
What is the investment structure of the St. Paul Electrical Construction Pension Plan?
The plan operates through a fund-of-funds model across private markets, targeting buyout, growth-equity, and turnaround strategies. It also maintains a direct allocation to commercial real estate in the United States and holds cash, fixed-income, and hedge-fund commitments on the public side. No direct co-investment or single-asset SPV activity is publicly documented.
Does the plan allow participant-directed investments or loans?
No. This is a defined-benefit pension plan funded entirely by employer contributions. Participants do not make contributions, direct their own accounts, or take loans or hardship withdrawals. The trust structure and asset allocation decisions rest with the plan's fiduciaries.
How does the Electrical Industry National Reciprocity Agreement affect the plan?
The agreement allows IBEW electricians who move between participating local unions to retain and transfer pension eligibility across funds. For the St. Paul plan, this means the benefit obligations can be shaped by the migratory patterns of construction labor, and the trust participates in a network that shares portability standards with other IBEW multiemployer pensions.
What other entities operate alongside this pension plan?
The plan is administered by the St. Paul Electrical Industry Administrative Service Corporation, which also oversees the St. Paul Electrical Workers Supplemental Pension Plan, the Retirement Medical Funding Plan, a 401(k) plan, and several vacation and apprenticeship trusts for IBEW Local 110 members. These entities share administrative infrastructure but are legally distinct trusts.
Which sectors does the plan explicitly avoid?
No exclusionary policy has been published. The disclosed strategy touches commercial real estate, diversified private-markets fund-of-funds, and public-market fixed income and hedge funds. No explicit restrictions on sectors such as energy, defense, or emerging markets appear in public filings.
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