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UA Plumbers & Steamfitters Local 267
UA Plumbers & Steamfitters Local 267 operated as a union local and pension fund sponsor in Central New York for decades, building retirement security for...
UA Plumbers & Steamfitters Local 267
UA Plumbers & Steamfitters Local 267 operated as a union local and pension fund sponsor in Central New York for decades, building retirement security for journeymen and apprentices across its jurisdiction. Under the long-time leadership of Business Manager Greg Lancette, who concurrently leads the merged UA Local 81 and serves as President of the Central-Northern New York Building & Construction Trades Council, Local 267 maintained dedicated pension, insurance, and annuity funds from its headquarters at 107 Twin Oaks Drive and an additional office in Ithaca. Investment strategy followed the conservative, income-oriented posture typical of Taft-Hartley multi-employer plans. Asset allocations spanned public equities, fixed income, and real assets, with a pronounced tilt toward infrastructure and commercial real estate — categories that align with the membership's trade expertise. The pension fund directly owned the union hall and training center, reflecting a tangible-asset preference common among building-trades plans. Benefit design emphasized defined-benefit pensions alongside supplemental annuity and insurance vehicles, forming a three-fund retirement architecture that distributed risk across asset pools. In 2020, Local 267 merged with Local 73 to form UA Local 81, consolidating jurisdictional reach and participant bases across a broader geography. The successor pension, annuity, and insurance funds absorbed Local 267's assets and liabilities, maintaining continuity of benefits for all participants. Greg Lancette transitioned into leadership of the new entity, preserving the investment governance lineage through the merger. The combined plan continues to serve plumbers, pipefitters, and service technicians from training centers and halls inherited from both predecessor locals. The structural differentiator for Local 267's funds was their embeddedness within a labor-advocacy ecosystem. Unlike corporate or public plans, the investment committee operated inside a network of building-trades councils and the AFL-CIO, creating a sourcing pipeline for union-built real estate and infrastructure projects. This structure made the pension fund a commercial participant in the same industry that generated its contributions — a feedback loop that shaped both investment selection and fiduciary posture.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Syracuse
Corporate office
107 Twin Oaks Dr, Syracuse, NY 13206, United States
Additional offices
701 West State Street, Ithaca, NY 14850
Principals
Greg Lancette
Business Manager
Sector focus
Frequently asked questions
What happened to Local 267's pension fund after the merger?
The pension, annuity, and insurance funds of Local 267 were absorbed into the successor plans of UA Local 81 as part of the July 2020 merger with Local 73. Participant benefits continued uninterrupted, with the combined asset pools managed under the investment governance structure of the new entity. Greg Lancette, who led Local 267, transitioned to head the merged local.
Who made investment decisions for Local 267's pension fund?
Investment decisions were made by a board of trustees composed equally of union and employer representatives, following the standard Taft-Hartley multi-employer plan governance model. The fund's investment committee operated under the oversight of Local 267's Business Manager Greg Lancette and the parent United Association, with allocations reflecting the conservative, real-asset-oriented posture typical of building-trades pension plans.
What asset classes did Local 267's pension fund invest in?
The fund maintained allocations across public equities, fixed income, and real assets, with a notable emphasis on commercial real estate and infrastructure investments. This allocation pattern mirrors the physical-trades focus of its plumber and pipefitter membership, with the fund directly owning real property including the union hall and training center at 107 Twin Oaks Drive.
How is Local 267 related to the United Association (UA)?
Local 267 was a chartered local union of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry, a major international labor organization representing plumbers, pipefitters, sprinkler fitters, and service technicians across the United States and Canada. The UA provided oversight and coordination, while the local retained autonomy over its pension and benefits fund governance.
Does the successor entity, UA Local 81, maintain the same investment posture?
UA Local 81 continues the investment governance model inherited from Local 267 and Local 73, operating as a Taft-Hartley multi-employer plan with a trustee board structure. The combined funds benefit from a larger participant base and asset pool, with Greg Lancette's continued leadership providing investment committee continuity through the merger.
What geographical area did Local 267's pension fund serve?
Local 267 served a jurisdictional area in Central New York, anchored by its Syracuse headquarters and an additional office in Ithaca. The 2020 merger with Local 73 expanded the participant base across a broader region, consolidating the service territory of both predecessor locals into UA Local 81.
Are there any publicly available investment holdings for Local 267?
As a private Taft-Hartley pension fund, Local 267 does not publish detailed investment holding disclosures comparable to public pension plans regulated by state open-records laws. Top-level plan financials are filed annually with the Department of Labor via Form 5500, but specific manager mandates and direct investments are not typically disclosed to the public.
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