Teamsters Local 301 Pension Plan

Teamsters Local 301 Pension Plan

The Teamsters Local 301 Pension Plan operates as a multi-employer defined-benefit fund for members of Teamsters Local 301, which has represented workers across Lake and McHenry counties for over a century. The plan draws contributions through collective bargaining agreements, with Waste Management, Inc. and Waste Connections, Inc. named as participating employers. The fund's investment posture reflects the long-duration liabilities of a mature Taft-Hartley plan, prioritizing stable, income-producing assets. The portfolio is anchored by direct commercial real estate holdings in North America, concentrated in two distinct mandates. The Core Real Estate Portfolio targets traditional commercial properties, while a dedicated Healthcare Real Estate Portfolio focuses on medical office and related facilities. The plan also maintains a reciprocal co-investment arrangement with the Teamsters Local 705 Pension Plan, allowing for shared exposure and potentially reduced administrative burden on select investments. The fund is administered from the union hall in Waukegan, Illinois, and its governance follows the joint board of trustees model standard for Taft-Hartley plans, with equal representation from union and employer appointees. While total asset and deployment figures are not publicly disclosed by the plan, its construction aligns with regional mid-size pension funds that prioritize direct property ownership and inter-plan relationships over external fund commitments. No separate foundation or adjacent investment vehicles are known to operate alongside the plan. The plan's structural differentiator lies in its hyper-local asset base paired with reciprocal multi-plan co-investment. Rather than competing for institutional mandates, Local 301 pools resources with Local 705, creating an alliance between two distinct Northern Illinois Teamsters plans that can share due diligence and achieve scale in property acquisitions neither could support individually.