UA Local 467 Defined Benefit Plan

UA Local 467 Defined Benefit Plan

The UA Local 467 Defined Benefit Plan was founded in 1956 to serve members of the United Association local in Northern California. Pete Dufault, President of the local and plan Trustee, oversees governance alongside Business Manager Mark Burri. The plan is administered by United Administrative Services and draws contributions under collective bargaining agreements with employer associations including the Mechanical Contractors Association and Northern California Mechanical Contractors Association. The plan deploys capital across private equity, venture, and real assets. Current allocations include an 18.3 percent position in private equity. Confirmed holdings comprise limited partnership interests in Assembly Ventures Fund I, FFL Capital Partners V, Welsh Carson Anderson & Stowe, Resolute Capital Partners, and ERA Partners. Geographic exposure spans the United States and Europe. The plan also holds direct ownership of the UA Local 467 Union Office and Training Center in Burlingame through the Joint Apprenticeship Training Committee. Assets total $754 million. The plan maintains service relationships with investment consultant Rael & Letson, auditor Miller Kaplan Arase, and counsel McCarthy Johnson & Miller. It participates in the UA International Reciprocity Agreement for contribution transfers across locals. No material operational events have been recorded in the last 24 months. The plan operates under a multiemployer structure governed by union trustees and employer signatories to the collective bargaining agreement. This architecture ties investment decisions directly to labor-management negotiations rather than a single-family mandate or external asset manager platform.