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UA Local 81
UA Local 81 operates the defined-benefit pension plan for former members of United Association Local 267, a plumbers and steamfitters union absorbed under the...
UA Local 81
UA Local 81 operates the defined-benefit pension plan for former members of United Association Local 267, a plumbers and steamfitters union absorbed under the Local 81 banner in Syracuse, New York. Founded in 1976, the plan is a multiemployer Taft-Hartley fund governed by a board of trustees that includes union leadership and representatives from contributing employers such as the Mechanical Trades & Master Plumbers Association of Central New York. Gregory Lancette, the union's Business Manager, serves as a trustee, linking plan governance directly to union operations. The fund's investment strategy extends well beyond traditional fixed-income and public-equity allocations. Public records indicate an active alternative investment portfolio based in Syracuse that touches buyout, venture capital from seed to late stage, distressed debt, mezzanine, secondaries, and co-investment vehicles. The plan participates both as a limited partner in commingled funds and through direct co-investment structures — a posture that places it among a subset of Taft-Hartley plans that have moved beyond fund-of-funds models to assemble direct exposure to private markets. The geography of these commitments is not publicly detailed, though typical multiemployer pension fund deployment patterns suggest a mix of North American middle-market and venture managers. Team size and total deployment figures are not publicly disclosed. The plan operates from the union hall at 107 Twin Oaks Drive in Syracuse, with no known additional offices. In addition to its investment activities, UA Local 81 maintains a philanthropic giving program. The plan's affiliation with the United Association National Pension Fund provides reciprocal benefit portability for members moving across jurisdictions, a structural feature common among building-trades locals. The plan's structural differentiator is its dual identity as both a retirement vehicle and a union-aligned institutional investor. Unlike corporate or public pension funds, Taft-Hartley plans are jointly trusteed by labor and management — a governance model that embeds bargaining relationships directly into fiduciary decision-making. This architecture can constrain liquidity appetite and influence manager selection in ways distinct from single-sponsor plans, favoring strategies and relationships aligned with the building trades' economic cycle.
General information
Firm type
Pension Fund
Year founded
1976
Location
Region
North America
Country
United States
City
Syracuse
Corporate office
107 Twin Oaks Drive, Syracuse, NY 13206, United States
Principals
Gregory Lancette
Business Manager and Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at UA Local 81?
Investment decisions are overseen by the plan's board of trustees, which includes union and management representatives. Gregory Lancette, Business Manager of UA Local 81 and former Business Manager of Local 267, serves as a trustee. The board typically delegates day-to-day investment management to an investment consultant and external managers, though specific consultant relationships are not publicly identified.
Is UA Local 81's pension fund a single-family office or a multiemployer plan?
It is a multiemployer Taft-Hartley defined-benefit plan. These plans are jointly trusteed by labor unions and contributing employers and are governed under the Employee Retirement Income Security Act of 1974, not operated as family offices. The plan covers eligible former members of UA Local 267 in Syracuse.
How is UA Local 81 connected to the United Association National Pension Fund?
The United Association National Pension Fund is a separate affiliated multiemployer fund that provides reciprocal pension benefits to UA members nationwide. UA Local 81's local plan coordinates with the national fund so that members who work across jurisdictional lines can aggregate service credits, a standard arrangement in the building trades.
What alternative asset classes does the fund invest in?
Public records indicate the fund maintains an alternative investment portfolio encompassing buyout, venture capital across all stages from seed to late stage, distressed debt, mezzanine, secondaries, special situations, venture debt, and co-investment vehicles. The allocation is consistent with a diversified private-markets program common among mid-sized Taft-Hartley plans.
Does UA Local 81 invest directly in companies or only through funds?
The fund's strategy includes both fund commitments and direct co-investment vehicles, per its disclosed investment approach. Co-investment programs are typically executed alongside general partners in whom the plan has existing limited-partner relationships, allowing the fund to reduce fee drag on a portion of its private-markets allocation.
Where does the plan's funding come from?
Funding comes from employer contributions negotiated through collective bargaining agreements between UA Local 81 and signatory contractors, including members of the Mechanical Trades & Master Plumbers Association of Central New York. Contribution rates are set in multi-year labor contracts and are not drawn from union member dues.
Does UA Local 81 have a philanthropic arm?
Yes, UA Local 81 maintains a philanthropic giving program. Details on grantmaking focus areas, annual giving levels, and governance separation from the pension fund are not publicly disclosed. Union-affiliated giving often supports workforce development, community projects in the building trades, and disaster relief.
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