The Legacy Plan of the Unite Here Retirement Fund

Overview

The Legacy Plan of the Unite Here Retirement Fund operates as the defined-benefit pension vehicle for participants in the UNITE HERE labor union. It collects contributions from multiple employers in the hospitality sector. The fund's assets are managed from New York. Capital is allocated to venture capital strategies. Contributing employers include MGM Resorts International through its Borgata property, Bally's Corporation properties in Rhode Island and Atlantic City, The TJX Companies, and Caesars Entertainment. Allocations remain focused on the United States. The plan received $868.6 million in Special Financial Assistance from the Pension Benefit Guaranty Corporation in January 2025. It maintains a money market relationship with Amalgamated Bank in New York. No additional offices or professional headcount figures are recorded. The fund's structure is defined by its direct tie to a single labor union and its receipt of federal assistance, which alters its contribution and investment posture relative to standard multi-employer plans.