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Treasurers and Ticket Sellers Union Local 751 Pension Fund
Local 751's Pension Fund was established in 1963 to provide defined-benefit retirement coverage to the treasurers, ticket sellers, and box-office personnel...
Treasurers and Ticket Sellers Union Local 751 Pension Fund
Local 751's Pension Fund was established in 1963 to provide defined-benefit retirement coverage to the treasurers, ticket sellers, and box-office personnel represented by I.A.T.S.E. Local 751. Unlike corporate pensions, this is a multiemployer plan — contributions flow in from a roster of New York entertainment employers including Madison Square Garden Entertainment Corp., the Theatre Development Fund, Lincoln Center Theater, and the producers organized under The Broadway League. The plan's health therefore tracks the fiscal rhythms of Broadway seasons, arena tours, and live-event ticketing volumes across the metro area. The fund's investment posture is that of a small institutional allocator: it accesses asset classes it could not underwrite directly by committing to external managers. Its reported strategy spans buyout, growth equity, venture capital, secondaries, special situations, and co-investments. The fund's actual manager roster is not publicly enumerated, but the pattern is common among Taft-Hartley plans of this size — a mix of core real estate, private credit, and middle-market buyout funds selected through consultant-led searches. Geography is concentrated domestically, with New York-based real assets forming a natural adjacency given the contributing employers' footprint. Leadership of the pension rests with a Board of Trustees drawn from union leadership. Lawrence Paone, the current President of Local 751, sits as a Trustee alongside Executive Council member Suzanne Abbott. The board's fiduciary work is overseen by the U.S. Department of Labor under ERISA, as with all private-sector defined-benefit plans. May 2024: The fund filed its most recent IRS Form 5500, the standard annual return disclosing financial condition and compliance to the Department of Labor (public record). What distinguishes this pension is not its scale but its participant base. Ninety-seven percent of pension plans in the United States cover workers whose jobs exist far from any spotlight. This one covers the people who tear the stubs. That narrow, venue-concentrated participant pool — tied to a handful of major New York employers — makes the fund unusually sensitive to disruption in live-event economics, from pandemic shutdowns to shifts in digital ticketing platforms. It is a structurally compact plan carrying long-duration liabilities on behalf of a workforce that, when the curtain goes up, is indispensable.
General information
Firm type
Pension Fund
Year founded
1963
AUM
$100M–$110M (Altss estimate)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York City, NY, United States
Principals
Lawrence Paone
President, Local 751; Trustee
Suzanne Abbott
Trustee
Sector focus
Frequently asked questions
Who makes investment decisions for the Local 751 Pension Fund?
A Board of Trustees — composed of union representatives and participating employer representatives — governs the fund. Union President Lawrence Paone and Trustee Suzanne Abbott are known to serve on the board. As with most Taft-Hartley multiemployer plans of this size, day-to-day investment management and manager selection is almost certainly delegated to an external investment consultant, though no consultant name has been disclosed publicly.
How is the fund's financial health tied to the Broadway and live-entertainment economy?
Directly. The plan's contributing employers — including Madison Square Garden Entertainment, Lincoln Center Theater, and producers represented by The Broadway League — remit contributions based on hours worked by union members. When shows close, tours cancel, or box offices downsize, contribution income drops. The fund must then meet pension obligations from investment returns and existing reserves, placing a premium on liquidity management and contribution-collection enforcement.
Does the fund invest directly in real estate or operating companies, or does it use outside managers?
Based on its reported strategy footprint — buyout, growth equity, venture capital, secondaries, and special situations — the fund overwhelmingly commits to external private-market funds rather than buying assets directly. Co-investment capability is tagged in its strategy set, but at roughly $107M in assets, any direct exposure is likely small and infrequent, executed alongside a lead GP.
What employers contribute to Local 751's pension fund?
Madison Square Garden Entertainment Corp. is a major contributing employer, alongside the Theatre Development Fund, Lincoln Center Theater, and numerous Broadway producers organized under The Broadway League. The Actors Federal Credit Union is also documented as a business partner. The fund is a classic multiemployer arrangement: multiple unrelated employers in the same industry contribute to a single plan under collective bargaining agreements.
What regulatory body oversees this pension fund?
As a private-sector defined-benefit plan, the fund falls under the Employee Retirement Income Security Act of 1974 and is regulated by the U.S. Department of Labor's Employee Benefits Security Administration. It also faces Pension Benefit Guaranty Corporation premiums and potential intervention if it were to enter critical or endangered status — standard for all multiemployer plans filing annual Form 5500 returns.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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