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Western Glaziers Retirement Plan
The Western Glaziers Retirement Plan operates as a defined-benefit pension fund for members of IUPAT Local 740, the union representing glaziers and...
Western Glaziers Retirement Plan
The Western Glaziers Retirement Plan operates as a defined-benefit pension fund for members of IUPAT Local 740, the union representing glaziers and architectural glassworkers in the Pacific Northwest. Governed by a Board of Trustees evenly split between union and employer association representatives — the Mt. Hood Glass Management Association — the fund collects contributions through collective bargaining agreements. Apogee Enterprises, a Minnesota-based commercial glass and architectural framing company with significant regional operations, acts as a major contributing employer. The board maintains a traditional asset-management posture for a plan of its structure, with known allocations to public equity and investment-grade fixed income. Specific direct holdings, fund commitments, and custodian relationships are not publicly detailed. The plan participates in the IUPAT Western Benefits network, a coalition of regional International Union of Painters and Allied Trades benefit funds that shares administrative infrastructure and actuarial oversight for affiliated pension plans in the Western United States. Operational and investment decisions are executed by the board, chaired by Michael Worthington, with trustee oversight from union and management representatives. The administrative office in Tukwila, Oregon handles participant relations, annuity calculations, and contributions. While Apogee Enterprises is the only disclosed significant contributor, the plan’s funding base extends to numerous regional glazing contractors bound by the union master agreement. The plan’s structural identity resides entirely within the multiemployer Taft-Hartley framework. Unlike single-employer corporate pensions that consolidate assets under a central CIO, Western Glaziers pools collectively bargained contributions across competing employers, with board-governed fiduciary duties to participants. The resulting governance model disperses authority across union and management trustees, making investment strategy a consensus-driven exercise durable across contractor cycles.
General information
Firm type
Pension Fund
Year founded
1962
Location
Region
North America
Country
United States
City
Portland
Corporate office
Tukwila, Oregon, United States
Principals
Michael Worthington
Chair of the Board of Trustees
Jerry Fisher
Member of the Board of Trustees
Kevin Gjesdal
Member of the Board of Trustees
William Vonderohe
Member of the Board of Trustees
Todd Springer
Member of the Board of Trustees
Bruce Neelands
Member of the Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at Western Glaziers Retirement Plan?
Investment oversight is the collective responsibility of the Board of Trustees, chaired by Michael Worthington. The board includes an equal number of union and employer representatives as required by Taft-Hartley governance rules. Specific investment consultants or outsourced CIO relationships are not publicly disclosed.
Is this a single-employer or multiemployer pension plan?
It is a multiemployer Taft-Hartley pension plan. Contributions come from multiple glazing contractors bound by collective bargaining agreements with Local Union 740 — not from a single corporate sponsor. Apogee Enterprises represents one disclosed major contributing employer.
What is the plan's known investment posture?
Public records indicate traditional pension allocations to public equity and investment-grade fixed income. There is no public evidence of private equity, venture capital, direct real estate, or hedge fund allocations. The plan appears to maintain a conservative, liability-matching posture consistent with many smaller multiemployer plans.
How is Western Glaziers related to IUPAT and Local 740?
The plan provides retirement benefits for members of the Glaziers, Architectural Metal and Glassworkers Local Union 740, which is part of the International Union of Painters and Allied Trades. The administrative office handles annuity and pension disbursements for covered participants in the Pacific Northwest.
Who are the contributing employers, and what happens if one withdraws?
Signatory glazing contractors include Apogee Enterprises — a publicly traded architectural glass company — plus smaller regional firms organized through the Mt. Hood Glass Management Association. Under multiemployer rules, contributing employers that withdraw before full funding face withdrawal liability proportionate to the plan's underfunding.
Does the plan maintain any association with other pension funds?
It is part of the IUPAT Western Benefits network, a consortium of IUPAT-affiliated benefit plans across the Western United States. This network shares administrative and actuarial resources, potentially creating joint purchasing power for investment services.
Is the plan's current funded status publicly available?
Multiemployer plans file annual Form 5500 disclosures with the Department of Labor, which would include funded-ratio data. Those filings are publicly accessible through the DOL's EFAST system. The plan does not publish simplified financial summaries on its own website.
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