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UA Local 125 Retirement Savings Plan
The UA Local 125 Retirement Savings Plan was established to provide retirement security for members of the United Association of Plumbers and Pipefitters Local...
UA Local 125 Retirement Savings Plan
The UA Local 125 Retirement Savings Plan was established to provide retirement security for members of the United Association of Plumbers and Pipefitters Local 125, which covers a broad swath of eastern Iowa. The plan is governed by its named Trustees, with Michael Sadler II serving as the day-to-day Plan Administrator. Contributions flow from participating signatory contractors and union members, creating a pooled retirement structure typical of Taft-Hartley multiemployer plans. The plan's investment architecture reflects a conservative, member-focused posture. Assets are allocated across registered mutual funds, an insurance company general account via unallocated contracts, participant loans, and directly owned commercial real estate. The real estate footprint is unusually explicit for a plan of this size: the portfolio includes the main union hall and meeting facility at 1831 16th Avenue SW in Cedar Rapids, plus satellite offices in Waterloo, Dubuque, and West Burlington. The plan's recordkeeping and member-directed investment platform is administered through John Hancock. Operational oversight is split between three named fiduciaries. Trustee Bret Brecke acts as Plan Sponsor, Trustee Joe Ockenfels shares fiduciary governance, and Plan Administrator Michael Sadler II handles day-to-day administration. The plan maintains ties to the broader Cedar Rapids business community through the Cedar Rapids Metro Economic Alliance. A separate scholarship program operates alongside the retirement plan, funded by the union but structurally distinct. The plan's structural differentiator is its direct ownership of commercial property tied to union operations. Unlike most local pension funds that outsource all real estate exposure to REITs or pooled funds, UA Local 125 holds the deeds to four operating union properties. This hybrid approach anchors a portion of the portfolio in tangible, income-generating assets physically linked to the membership it serves.
General information
Firm type
Pension Fund
Year founded
2000
Location
Region
North America
Country
United States
City
Cedar Rapids
Corporate office
Cedar Rapids, IA, United States
Additional offices
Waterloo, IA · Dubuque, IA · West Burlington, IA
Principals
Bret Brecke
Trustee
Joe Ockenfels
Trustee
Michael Sadler II
Plan Administrator
Sector focus
Frequently asked questions
Who makes investment decisions for the UA Local 125 Retirement Savings Plan?
Fiduciary authority rests with the Board of Trustees. Bret Brecke and Joe Ockenfels are the named Trustees on public filings, with Plan Administrator Michael Sadler II handling operational execution. Investment menu design and monitoring are typically delegated to a committee of Trustees, but specific delegation details are not publicly disclosed for this plan.
How are member assets invested and administered?
The plan uses the John Hancock recordkeeping platform for member-directed investment accounts. The overall plan portfolio spans registered mutual funds, an insurance company general account via unallocated contracts, participant loans, and directly owned commercial real estate properties in Cedar Rapids, Waterloo, Dubuque, and West Burlington.
Does the plan directly own the real estate, or invest through funds?
The plan directly holds title to at least four commercial properties: the main union hall at 1831 16th Avenue SW in Cedar Rapids and satellite offices in Waterloo, Dubuque, and West Burlington. This is unusual for a local Taft-Hartley pension plan, which typically gains real estate exposure through REITs or pooled institutional funds rather than direct property ownership.
What is the relationship between the retirement plan and UA Local 125?
UA Local 125 is an International union chapter representing plumbers and pipefitters covering eastern Iowa. The Retirement Savings Plan is a separate legal entity established under collective bargaining agreements with signatory contractors, governed by a joint board of union and employer Trustees. The union also maintains a separate scholarship program.
Is this plan open to external investors or co-investment partners?
No. As a Taft-Hartley multiemployer pension plan, the UA Local 125 Retirement Savings Plan is exclusively for union members and their beneficiaries. It does not accept outside capital or participate in LP structures beyond its own portfolio investments.
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