Taft-Hartley Pension Plan

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Taft-Hartley Pension Plan

A pension plan in which an employer makes fixed contributions to a fund on behalf of employees, who receive a fixed benefit upon retirement. The employer negotiates the amount of the contribution with an employee union, and a third party (consisting of an equal number of representatives of the employer and the union) is responsible for investing contributions. The employer is therefore not responsible for the pension's investment losses, if any. This structure was created in 1947 by the Taft-Hartley Act.
References in periodicals archive ?
The borrower is an affiliate of the AFL CIO Building Investment Trust, which is a Taft Hartley pension fund.
He is responsible for developing new business with Taft Hartley pension plans, and is based in New York.
Prior to joining State Street, Pettit was a senior relationship manager at Northern Trust covering public fund and Taft Hartley pension and health plans for more than four years.
A pioneer in the investment community, Kampel, was one of the first to advise Taft Hartley pension and welfare funds.
5 billion in investment manager searches for 30 public, corporate, and Taft Hartley pensions plans, health care and religious organizations, and foundation and endowments.