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United Food & Commercial Workers Midwest
UFCW Midwest Pension Fund manages retirement assets for union grocery workers, investing in private equity, real estate, and credit across the Midwest.
United Food & Commercial Workers Midwest
The fund was established under the auspices of the United Food and Commercial Workers International Union, serving UFCW members in the Midwest region. Its governance is structured as a labor-management trust, with trustees appointed from both the union and contributing employers. The primary source of assets is employer contributions based on collective bargaining agreements covering grocery and retail workers. Asset allocation targets private equity buyouts, commercial real estate, and private credit. The fund holds direct real estate investments through vehicles such as PRISA (Prudential Real Estate Investors), Sterling United Properties, and Workers Realty. It has also received Special Financial Assistance (SFA) from the PBGC under the American Rescue Plan Act, structured to shore up solvency for financially distressed multi-employer plans (per PBGC, 2023). Schnuck Markets accounts for over 50% of the plan's contribution base, making the fund highly dependent on one employer's financial health. The fund has been party to litigation with Albertsons and SuperValu over withdrawal liability calculations, reflecting the strain of declining union grocery membership across the industry. Unlike corporate pension funds that rely solely on market returns, UFCW Midwest's solvency is directly tied to collective bargaining outcomes and employer willingness to remain in the plan. The PBGC SFA program provides a backstop, but the fund's long-term viability depends on stabilizing its contributor base and reducing its reliance on any single employer.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Downers Grove
Corporate office
Downers Grove, IL, United States
Sector focus
Frequently asked questions
Who are the largest contributing employers to the UFCW Midwest Pension Fund?
Schnuck Markets is the dominant employer, responsible for over 50% of the fund's contribution base units. Other significant employers include Albertsons Companies and, historically, SuperValu. The fund's financial health is closely tied to the retail grocery sector and the willingness of these chains to remain in the multi-employer plan.
What types of assets does the UFCW Midwest Pension Fund invest in?
The fund allocates to private buyout funds (listed as its primary strategy), commercial real estate via vehicles such as PRISA, Sterling United Properties, and Workers Realty, and private credit. It also received federal PBGC Special Financial Assistance, structured as a loan-like injection to support benefit payments over the long term.
Has the fund been involved in litigation with contributing employers?
Yes. The fund has pursued withdrawal liability claims against Albertsons and SuperValu, disputing the amount these chains owe when exiting the plan. These legal challenges are common among multi-employer pensions facing a shrinking contributor base in the grocery industry (per public court records).
Is the fund covered by the PBGC's Special Financial Assistance program?
Yes. The fund applied for and received PBGC SFA under the conditions of the American Rescue Plan Act. This program provides financial assistance to multi-employer plans deemed to be at risk of insolvency, structured to ensure benefit payments continue through 2051 (per PBGC, 2023).
What is the governance structure of the fund?
As a multi-employer Taft-Hartley plan, the fund is governed by a board of trustees equally representing the UFCW International Union and contributing employers. This structure is typical for union pension funds in the grocery and retail sectors.
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