Teamsters, Philadelphia & Vicinity

Teamsters, Philadelphia & Vicinity

The Teamsters, Philadelphia & Vicinity Pension Plan operates as a multi-employer Taft-Hartley fund, established to provide retirement security for union members across the Philadelphia metropolitan area. The fund pools contributions negotiated under collective bargaining agreements between participating International Brotherhood of Teamsters local unions and contributing employers, a structure that places fiduciary oversight with a joint board of union and employer trustees. Maria Scheeler serves as Executive Director and Administrator for both the pension and health and welfare funds, handling day-to-day operations. Chairman Vito Dragone, Jr. leads the trustee board and serves as Secretary-Treasurer of the participating locals, while former Administrator William J. Einhorn runs Administrative Service Professionals, Inc., the third-party administrator based in Pennsauken that supports fund operations. The fund deploys capital across asset classes that extend well beyond traditional fixed-income and public-equity mandates. Confirmed allocations include institutional-quality multifamily residential real estate in the United States, acquired directly, and a venture capital program that makes commitments to general partner funds. The plan typically targets core-style multifamily assets — stabilized, income-producing apartment communities — as a hedge against the long-duration liabilities of its defined-benefit participant base. Exact fund-level assets are not publicly disclosed. The plan files Form 5500 annually in line with ERISA requirements and participates in the International Brotherhood of Teamsters' broader network via Joint Council 53. Sysco Corporation is a named contributing employer, a fact that reflects the fund's heavy exposure to logistics, trucking, and warehousing Taft-Hartley agreements. The fund runs alongside sister health and welfare plans, all administered from Pennsauken, New Jersey. Structurally, the fund is distinctive in its dual identity: it is a defined-benefit pension plan with the asset-allocation posture of an institutional investor, but its governance and contribution base are wholly union-negotiated. Every dollar entering the fund comes from a bargained hourly contribution rate, tying its asset growth directly to the health of collective bargaining in the regional transportation and logistics sector. That link makes the fund's investment committee highly sensitive to the credit quality of contributing employers — a tension not present in public or corporate plans.