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In 1993, the carpenters' pension fund made a large investment in a company which held televised boxing matches at a Palm Springs, California, hotel owned by the fund, and a $40 million investment in a company that supplied nearly all the concrete for one of Tutor's construction companies. The value of the latter investment declined by 31 ...
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
In 1948, he was elected business manager of Local 721 in Los Angeles, and in 1957 secretary-treasurer of the Los Angeles District Council of Carpenters. He served as a trustee for the Carpenters Health and Welfare Fund for Southern California, and as a pension trustee for the Carpenters Pension Trust for Southern California.
The infusion will raise the pension fund's status to more than 60% funded, up from 34.3% funded as of 2022, according to Tom Lutz, president of the Michigan Regional Council of Carpenters and ...
State Sen. Scott Wiener (D-San Francisco) with housing advocates and members of the California Conference of Carpenters at the opening of an affordable housing apartment complex in San Francisco.
The $40 million dollar figure would actually appear to be an underestimate of the losses & the statement that it "disappeared" from the General Fund would appear to also be misinformation. The losses were suffered from the Carpenters Pension Trust Fund for S. Cal. and the UBC Pension Fund.
Since 2001, U.S. statewide pension funds have experienced significant funding challenges due to the recessions of 2001-2002 and 2008-2009. Prior to the Dot-Com Crash, statewide pension funds were over 95.6% funded in the aggregate. In 2002, the funded ratio had declined to 82.1%.
Barons of Labor: The San Francisco Building Trades and Union Power in the Progressive Era. Champaign, Ill.: University of Illinois Press, 1987. ISBN 0-252-01345-X; Schneirov, Richard and Suhrbur, Thomas J. Union Brotherhood, Union Town: The History of the Carpenters' Union of Chicago, 1863-1987.