named programs · 7 · from sources
What they call their work
Annuity Fund
Offers lump-sum distributions for education, disability, termination, and retirement needs; allows rollovers from other qualified retirement plans and quarterly allocations based on fund performance
Death Benefit
Lump-sum payment of the full annuity account balance to beneficiaries upon participant's death
Disability Annuity
Monthly or weekly payments for members under age 55 who are disabled and receiving state or federal disability benefits
Education Benefit
Lump-sum reimbursement for higher education expenses incurred by participant, spouse, or dependent at accredited institutions
Health & Benefit (H&B) Plan
Provides health coverage for active and retired union members, including medical, dental, and vision benefits; also covers eligible expenses such as cord blood storage when medically necessary
Normal Annuity
Monthly or lump-sum payment available to members age 55+ no longer in covered employment; options include insurance contracts or direct rollover to IRA/401k
Termination Annuity
Weekly payments of $125 (up to $375 after 25 weeks) for members under age 55 who are unemployed; requires proof of no covered employment
activities · 3 groups
What they do
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Union and Association Benefit Funds 6 activities
- Administers health benefits through a Health Reimbursement Account (HRA) planProvides union members with health care benefits via an HRA plan funded by employer contributions based on hours worked in covered employment, including reimbursement for medically necessary umbilical cord blood storage and online access to health eligibility and claims information.
- Conducts actuarial valuations for plan sustainabilityPerforms annual actuarial assessments of fund assets, accrued benefits, and pension liabilities to evaluate financial health and inform appropriate contribution levels and long-term plan viability.
- Ensures benefit portability across jurisdictionsRegisters members in the Electronic Reciprocal Transmission System (ERTS) to maintain access to health and benefit coverage when working outside Local 236's jurisdiction.
- Manages annuity and supplemental benefit disbursementsProvides in-service distributions of up to $12,500 (net of withholding) or up to 50% of a participant’s annuity balance, offers weekly termination payments starting at $125 and increasing to $375 after 25 weeks of unemployment, and allows direct rollover of annuity disbursements into qualified retirement plans without tax withholding or direct payment with 20% federal tax withholding.
- Operates online and in-person member service systemsEnables union members to access annuity balances, calculate pensions, check health eligibility, order insurance cards, review work history, and view health claims through the Participant Edge online portal, and provides physical access to Summary Plan Descriptions, applications, and insurance and pension documents at the Fund office.
- Processes employer contributions and benefit claimsManages the collection of employer contributions tied to hours worked, processes benefit claims in scheduled cycles—with delayed handling for incomplete or late submissions—and disburses payments for health, annuity, and other covered benefits while covering operational expenses of the Fund.
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Annual Financial and Activity Reporting 1 activity
- Conducts financial and compliance auditsPerforms annual financial audits and rotating three-year payroll audits of all participating contractors to verify accurate employer contributions and ensure fund compliance and operational integrity.
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Union-Linked Educational Scholarships 1 activity
- Provides educational reimbursements and special account allocationsOffers educational reimbursement benefits for participants and their dependents and provides additional allocations to participant accounts beyond standard employer contributions, as specified in the Summary Plan Description.
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financials · form 990 · fy2024
revenue
Total revenue$30.92M
Contributions & grants$00%
Program service revenue$23.88M77%
Investment income$7.04M23%
Other revenue$0
expenses
Total expenses$28.43M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$124.12M
Cash$5.84M
Investments$113.79M
Liabilities$2.08M
Net assets$122.04M
Liquid reserves50.5 mo
6 years on record · 2019–2024 · YoY revenue +6.3%
leadership · form 990 part vii · fy2024
Who runs it
board members · 6
- BRIAN HART — TRUSTEE
- CHRISTOPHER SPRARAGEN — TRUSTEE
- JOSEPH P GROSS — TRUSTEE
- MICHAEL MARTELL — TRUSTEE
- MICHAEL MASTROPIETRO — TRUSTEE
- PAUL NYLIN — TRUSTEE
relationships · 21
Who they work with
- Albany Electrical Contractors Association Partner — Employer association representing participating contractors whose employees are covered by the fund.
- Blue Shield of Northeastern NY Partner — Health insurance provider offering coverage to fund participants.
- Bolton Partner — Actuary service provider
- Capital District Physicians Health Plan Partner — Health plan provider offering coverage options to fund participants.
- IBEW International Network — International union entity with which the local fund coordinates on pension and benefit matters, including QDRO processing.
- JATC Partner — Jointly assists in registering members into the Electronic Reciprocal Transmission System (ERTS) for benefit portability.
- Jaeger & Flynn Associates Partner — Third Party Administrator for Health benefits
- National Electrical Benefit Fund Network — Partner fund providing pension benefits; IBEW Local 236 Health and Benefit Fund coordinates with NEBF on QDROs and benefit integration.
- New York State Workers' Compensation Board Government — State agency referenced for disability and workers' compensation coordination.
- SEI Investments Partner — Investment advisor responsible for managing fund assets using a 'Manager of Managers' approach under fiduciary responsibility.
- SavRx Partner — Pharmacy benefits manager (PBM) administering prescription drug benefits.
- Social Security Administration Government — Federal agency coordinated with regarding member benefits and documentation requirements.
- Summary Plan Description (SPD) Government — Official document governing the structure and operation of the Health and Benefit Fund, available at the Fund office.
- Teal, Becker, Chiarmonte, PC Partner — Accountant for the fund
- Victory Capital Management Partner — Custodian responsible for receiving and monitoring employer contributions and maintaining fund assets.
- WEX Health (Jaeger & Flynn) Partner — Provider of health account management services including flexible spending and health reimbursement accounts.
- William Pozefsky, Esq. Partner — Attorney for the fund
- Zenith American Solutions Partner — Fund Administrator and Third Party Administrator for Pension & Annuity benefits
- Zenith American Solutions Partner — Provider of Participant Edge portal for annuity balances, pension statements, work history, and insurance ID card services.
- Zenith American Solutions Partner — Provides the Participant Edge portal for accessing annuity balances, pension calculators, health eligibility, insurance cards, work history, and health claims.
- Zenith American Solutions Partner — Provides the Participant Edge portal platform for pension and health benefit services.
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Fiduciary-Aligned Investment Managementmethodology: fiduciary-partnership-investingBy engaging investment advisors as co-fiduciaries with performance-based compensation, the fund improves investment outcomes, because aligning fiduciary responsibility and incentive structures enhances accountability and decision-making quality.
- Health Reimbursement Account (HRA) Model with Hours-Based Contributionsmethodology: health-reimbursement-accountBy tying employer contributions to hours worked and establishing personal, non-taxable accounts for medical expenses, the fund increases equitable access to healthcare funding, because it directly links financial support to labor participation while preserving tax efficiency.
- Proportional Performance-Linked Account Allocationmethodology: proportional quarterly allocation based on fund performanceBy allocating quarterly investment returns and operational results proportionally to individual accounts based on fund performance, the fund ensures that participant benefits reflect actual financial outcomes, because individual growth is directly tied to collective investment income and cost management.