United Association of Plumbers & Streamfitters Local 322 Pension Fund

The fund is governed by a joint board of trustees split evenly between labor representatives appointed by UA Local 322 and management representatives from signatory mechanical contractors. All investment and benefit decisions require majority approval from both sides, a structure designed to align incentives between the union membership and the employers funding the plan.

Yes. As an ERISA-covered multiemployer plan, the fund files an annual Form 5500 with the Department of Labor. That filing discloses total assets, investment holdings by broad category, contributions received, benefits paid, and actuarial information including the plan's funded percentage and zone status under the Pension Protection Act.

It operates independently under its own joint board, but the fund may participate alongside other UA local-union pension plans in jointly sponsored real estate or infrastructure investment vehicles. Many building-trades pension funds access alternative investments through union-affiliated common collection trusts that aggregate capital from multiple sister locals to achieve scale and fee leverage.

Like all multiemployer Taft-Hartley plans, the trust is subject to ERISA fiduciary standards and typically maintains an investment policy statement setting target allocations and restrictions. Because the plan must make monthly pension payments, its liquidity requirements are higher than those of a typical endowment or family office, limiting exposure to long-duration, locked-up alternative strategies.

UA Local 322 represents plumbers, pipefitters, steamfitters, and HVAC service technicians across six Southern New Jersey counties: Atlantic, Camden, Cape May, Cumberland, Gloucester, and Salem. The union's jurisdiction covers both commercial and industrial construction as well as residential service and repair contractors.