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Studio Mechanics Local 476 IATSE Retirement Plan
The Studio Mechanics Local 476 IATSE Retirement Plan was founded in 1967 as a multiemployer defined-benefit vehicle for members of the Chicago-based local of...
Studio Mechanics Local 476 IATSE Retirement Plan
The Studio Mechanics Local 476 IATSE Retirement Plan was founded in 1967 as a multiemployer defined-benefit vehicle for members of the Chicago-based local of the International Alliance of Theatrical Stage Employees. Business Manager Anthony Barracca serves as plan administrator, overseeing the fund's operations alongside plan sponsor and trustee representative Richard Lederer. The plan's design reflects the standard architecture of Taft-Hartley pension funds: employer contributions negotiated through collective bargaining are pooled and professionally managed to provide a guaranteed monthly benefit in retirement, calculated from years of service and contribution levels. Asset-level detail is limited by the plan's private-filing posture. Public record confirms a holding in the Principal U.S. Property Fund, a core commercial real estate vehicle. Beyond that direct position, the plan's investment strategy is typical of small to mid-sized multiemployer plans — an allocation likely spanning domestic equities, fixed income, and potentially additional real estate or alternative credit exposures accessed through commingled funds. The geographic focus is domestic, with all known administration operating out of the plan's Chicago headquarters and no foreign offices or disclosed international commitments. The plan is fundamentally tied to the production economy of Chicago and the broader Midwest. It operates without a standalone investment staff; administrative and trustee oversight combines with external investment consultants or outsourced CIO relationships to manage plan assets. Assets, while not publicly disclosed, are estimated in the range of a small multiemployer plan. No membership in peer networks such as Tiger 21 or R360 has been reported. The plan's structural character is its embedded trade-union logic. As a Taft-Hartley multiemployer vehicle, it is jointly trusteed by labor and management, a governance model that separates it from corporate or public pension funds. This architecture ties investment time horizon, liquidity needs, and risk tolerance to the projected benefit obligations of a single-local workforce. For institutional allocators evaluating co-investment or fund-marketing potential, the gate is a single administrator within a joint-trustee framework, with no dedicated internal investment team.
General information
Firm type
Pension Fund
Year founded
1967
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Anthony Barracca
Business Manager, Secretary Treasurer, and Plan Administrator
Richard Lederer
Plan Sponsor and representative of the Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at the Studio Mechanics Local 476 Retirement Plan?
Final fiduciary authority rests with a joint Board of Trustees composed of labor and management representatives, a standard structure for Taft-Hartley multiemployer plans. Day-to-day administration is led by Business Manager and Plan Administrator Anthony Barracca. The plan does not publicly disclose a dedicated internal investment staff, suggesting that asset-allocation decisions and manager selection are conducted with the support of an external investment consultant or outsourced CIO provider.
How is the plan funded?
It is funded through employer contributions negotiated under collective-bargaining agreements between IATSE Local 476 and signatory production companies, studios, and venues. These contributions are set at a fixed rate per hour worked by covered employees. The plan, as a defined-benefit vehicle, pays a guaranteed monthly pension to eligible retirees, with investment returns supplementing the contribution base to meet projected obligations.
What is the plan's known asset allocation?
Publicly available information is sparse. The plan holds a position in the Principal U.S. Property Fund, a core real estate vehicle. As a small to mid-sized multiemployer pension plan, the remaining portfolio likely consists of exposure to domestic equities and fixed income through commingled institutional funds. No detailed breakdown of allocation targets is publicly disclosed.
Is the plan open to co-investments alongside external managers?
There is no public indication that the plan engages in direct co-investments. Given its estimated asset base and outsourced investment-consultant governance model, the plan's exposure to private markets is almost certainly limited to commingled fund commitments rather than direct or co-investment structures.
What industries do plan participants work in?
Members of IATSE Local 476 are primarily studio mechanics — grips, electricians, set carpenters, props craftspeople, sound technicians, and related trades working in film, television, and live production. The plan covers this specialized workforce, with a participant base concentrated in the Greater Chicago production hub.
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