Twin City Hospital Workers Pension Fund

Twin City Hospital Workers Pension Fund

The Twin City Hospital Workers Pension Fund was established in 1971 through collective bargaining agreements between SEIU Healthcare Minnesota and healthcare industry employers, creating a multiemployer retirement vehicle for hospital workers across the Twin Cities region. The plan provides defined-benefit pensions to eligible participants, with employer contributions negotiated through union contracts. Participating healthcare employers include major Minnesota institutions such as Allina Hospitals and Clinics and Children's Hospitals and Clinics of Minnesota. The fund pursues an institutional portfolio that spans private equity, real estate, and fixed income. Its private equity exposure includes buyout and secondaries strategies, reflecting the contrarian and valuation-sensitive approaches common among Taft-Hartley plans of this size. Known holdings include positions in the PGIM Select Real Estate Fund CIT and the PGIM Strategic Bond Fund CIT, alongside a commingled pension trust vehicle managed by JPMorgan. The fund's geographic focus is overwhelmingly domestic, consistent with its mandate to steward retirement assets for Minnesota-based healthcare workers. The plan is governed by a joint board of trustees representing both SEIU Healthcare Minnesota and the participating employers. Trustees Jigme Ugen and Phillip Cryan, both Executive Vice Presidents of SEIU Healthcare Minnesota, hold leadership roles that extend beyond the fund — Ugen serves on the board of the Minnesota AFL-CIO, while the trustee group maintains ties to the Minneapolis Regional Labor Federation. No dedicated internal investment staff is publicly disclosed, suggesting the plan relies heavily on trustee oversight and external manager selection. Structurally, Twin City Hospital Workers differs from single-employer corporate pensions. As a Taft-Hartley multiemployer plan, its funding and governance are subject to the joint trusteeship of labor and management, insulating the fund from the credit risk of any single hospital system. This architecture places it within a distinct subset of US private-sector pensions that negotiate contribution rates through union contracts while deploying capital into institutional-quality private markets alongside much larger peers.