# Teamsters Drivers Milwaukee Local 344

Teamsters Drivers Milwaukee Local 344 is a Pension Fund based in Milwaukee, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Milwaukee, United States
- **Region:** North America
- **Address:** 10020 W. Greenfield Ave, West Allis, WI 53214
- **Assets under management:** Undisclosed
- **Website:** teamsterslocal344.org
- **LinkedIn:** https://www.linkedin.com/company/teamsters-local-344

## Regulatory record

- **Reports private funds:** No

## About

Teamsters Drivers Milwaukee Local 344 operates a multi-employer defined-benefit pension plan covering union drivers and their families in the Milwaukee area. The fund is a chartered affiliate of the International Brotherhood of Teamsters, with its pension office located at 11270 W. Park Place in Milwaukee. William Carroll serves as Secretary-Treasurer and chairman of the pension fund, while Patrick Tappa also holds a Secretary-Treasurer role tied to the local's financial management. The fund deploys capital almost exclusively through secondaries transactions, acquiring limited-partner interests in private-equity funds from sellers seeking liquidity. This strategy gives the plan indirect exposure across buyout, growth-equity, and venture holdings without the blind-pool risk of primary commitments. The portfolio spans multiple vintage years and managers through purchases negotiated in the secondary market. No direct co-investments or primary fund commitments have been publicly documented. Teamsters Local 344 maintains a headquarters building at 10020 W. Greenfield Avenue in West Allis and a separate pension-fund office in Milwaukee. Adjacent benefit structures include the Milwaukee Drivers Health and Welfare Fund and a severance pay plan for officers, business agents, and employees. The local participates in the Milwaukee Area Labor Council, AFL-CIO, and is recognized as a United Way Community Partner for workplace giving. Structurally, the fund sits inside a union local rather than a standalone investment office, which means governance flows through elected officers rather than an independent board or professional staff. The International Brotherhood of Teamsters exercises chartered oversight, but investment decisions remain at the local level. This architecture creates a narrow corridor: the plan can move quickly within its secondaries mandate but has limited capacity to build internal origination teams or diversify into direct investing.

## Sectors

- Secondaries & Special Situations

## People

- William Carroll — Secretary-Treasurer
- Patrick Tappa — Secretary-Treasurer

## Questions

### Does Local 344 make primary fund commitments or only secondary purchases?

Available evidence points to a secondaries-only approach. The plan buys LP interests from other limited partners rather than committing capital directly to newly formed funds. This avoids blind-pool risk and gives the fund greater control over timing and pricing.

### Is the pension fund insured by the PBGC?

As a multi-employer defined-benefit plan, Teamsters Local 344's pension is covered by the Pension Benefit Guaranty Corporation's multi-employer program. The PBGC provides a backstop if a plan becomes insolvent, though benefit guarantees under the multi-employer program are lower than those for single-employer plans.

### How is Local 344's pension related to the International Brotherhood of Teamsters?

Local 344 is a chartered affiliate of the International Brotherhood of Teamsters. While the parent union sets broad policies, the local administers its own pension fund independently. The IBT's Sales and Service Industry division provides some operational coordination, but investment governance remains local.

## Related profiles

- [Teamsters Central States, Southeast & Southwest](https://altss.com/profile/teamsters-central-states-southeast-southwest)
- [Teamsters Local 355](https://altss.com/profile/teamsters-local-355-truck-drivers-helpers)

---

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

Canonical page: https://altss.com/profile/teamsters-drivers-milwaukee-local-344

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology