# UFCW - Northern California Employers Joint Pension

UFCW - Northern California Employers Joint Pension is a Pension Fund based in Concord, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Concord, United States
- **Region:** North America
- **Address:** 1000 Burnett Ave, Concord, CA 94520, United States
- **Founded:** 1957
- **Assets under management:** Undisclosed
- **Website:** ufcwtrust.com
- **LinkedIn:** https://www.ufcwtrust.com/

## Regulatory record

- **Reports private funds:** No

## About

The UFCW-Northern California Employers Joint Pension Trust Fund is a multi-employer plan serving union members and employers in Northern California. Its board includes trustees from UFCW Local 8-Golden State and Local 5, alongside employer representatives from The Save Mart Companies. The fund is in critical status, requiring a rehabilitation plan and potential benefit adjustments. It applied for Special Financial Assistance from the Pension Benefit Guaranty Corporation, a distinct regulatory posture for a labor-backed plan. Asset allocation skews toward alternative credit and real estate. The fund is a significant shareholder in Crescent Capital BDC, a business development company managed by Crescent Capital Group. Direct holdings include the UFCW & Employers Plaza at its Concord headquarters and interests in common and collective trusts. Real estate exposure also runs through the American Realty Advisors Core Equity Portfolio. The plan draws from a concentrated employer base — Albertsons Companies and Save Mart Supermarkets are major contributors — while the board includes union leaders like Kirk L. Vogt and John Frahm. Total AUM and participant counts are not disclosed. The fund maintains an industry tie to the Pension Real Estate Association through its real estate professionals. Jacques Loveall, the board chair, also leads the Loveall Foundation for Children, a separate philanthropic entity. Unlike pooled public pension systems, this plan's multi-employer Taft-Hartley structure locks its fate to collectively bargained contributions from a narrow set of grocers. That governance model creates concentrated credit risk and liquidity constraints that single-employer plans rarely face, directly shaping the board's investment and rehabilitation decisions.

## Sectors

- Real Estate

## People

- Jacques Loveall — Chairman of the Board of Trustees
- John Frahm — Trustee
- Kevin Sears — Employer Trustee
- Kirk L. Vogt — Trustee

## Questions

### Who runs investment decisions at UFCW - Northern California Employers Joint Pension?

A Board of Trustees — split between union and employer representatives — oversees all plan operations, including investment policy. Chairman Jacques Loveall, also President of UFCW Local 8-Golden State, leads the board. Named trustees include John Frahm (UFCW Local 5), Kevin Sears (Save Mart Companies), and Kirk L. Vogt (UFCW 8-Golden State).

### What are the plan's largest known asset exposures?

The fund holds the UFCW & Employers Plaza in Concord as a direct real estate asset. It is a significant shareholder in Crescent Capital BDC, a publicly traded business development company managed by Crescent Capital Group. Additional real estate exposure runs through common trusts and the American Realty Advisors Core Equity Portfolio.

### Which employers contribute to the plan?

Major contributing employers include Albertsons Companies, Safeway Inc., and Save Mart Supermarkets — all grocery chains with collectively bargained agreements. The employer base is concentrated in Northern California food retail, making the plan's funding sensitive to the operating health of those specific companies.

### What is the Loveall Foundation for Children, and is it related to the pension?

The Loveall Foundation for Children is a separate philanthropic entity led by Jacques Loveall. It is not an asset or obligation of the pension plan and operates independently.

## Related profiles

- [UFCW Local 75](https://altss.com/profile/ufcw-local-75)
- [UFCW Unions and Participating Employers Pension Plan](https://altss.com/profile/ufcw-unions-and-participating-employers-pension-plan)

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Last updated: 2026-08-11T02:43:31.692Z

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