Steamfitters Industry Fund

What Steamfitters Industry Fund does

Steamfitters Industry Fund (legally Steamfitters' Industry Trust Funds) is a privately-held multiemployer benefit fund organized under the Taft-Hartley Act of 1947, providing pension, welfare, vacation, security benefit, and educational services to approximately 10,000 active and retired members of Steamfitters Local 638, their dependents, and beneficiaries. The fund operates two internal branches, the Construction Trades Branch (CTB) and the Metal Trades Branch (MTB), each administering its own benefit programs. Governance is jointly held by union trustees from Enterprise Association Steamfitters' Local Union 638 and employer trustees from the Mechanical Contractors Association of New York, with no external investor ownership; the structure is non-profit and jointly-trusted.

The fund's core product suite includes two defined benefit pension plans, a defined contribution/401(a) supplemental retirement plan administered by John Hancock, two health and welfare funds (medical, prescription, dental, and vision coverage delivered through Empire BlueCross BlueShield, Express Scripts, MetLife, and Anthem Blue Cross), a Health Reimbursement Account, a vacation plan, a security benefit fund, and two educational funds. Operational technology consists of the member self-service portal and employer portal running on the v3locity platform, an online training center delivering NYC Department of Buildings Site Safety Training and OSHA 30 certification through ClickSafety, electronic document management, and secure member login systems. The Training Center operates from a separate facility in Long Island City offering welding, HVAC, SST, and apprenticeship programs. Fund office staff headcount is in the 1-10 range, with executive administrators and a director of education managing the program.

Revenue is generated exclusively through employer contributions mandated by collective bargaining agreements, billed monthly as a recurring subscription-style stream; contribution rates are not publicly disclosed. Service delivery is regional (Northeast US) and direct-to-member through the Fund Office, member portals, and Training Center. The fund does not pursue venture funding, has no acquisitions, and discloses no AI/ML capabilities; recent operational activity has centered on negotiated benefit increases (CTB Welfare Fund $1.50/hour increase effective April 1, 2026; MTB $0.50 allocation to Wage and $0.50 to Welfare Fund effective July 1, 2026), a new Metal Trades Supplemental Retirement Fund, new hearing aid benefits, and a new online SST training platform.

Name

Steamfitters Industry Fund

Legal name

Steamfitters' Industry Trust Funds

Website

https://steamfitters.com

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

1–10 employees

Short description

Steamfitters Industry Fund is a jointly-trusted Taft-Hartley multiemployer benefit fund providing pension, welfare, vacation, security, and educational benefits to approximately 10,000 active and retired members of Steamfitters Local 638 across construction and metal trades branches in the New York region.

Ownership category

akta.pro rank

Headquarters

HQ city

Long Island City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Employer Contributions: Contributing employers make contractual contributions on behalf of covered employees under collective bargaining agreements with the Enterprise Association Steamfitters' Local Union 638. These contributions fund pension, welfare, vacation, security benefit, and educational programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Steamfitters Industry Fund is a Taft-Hartley multiemployer benefit fund that administers pension, welfare/health, supplemental retirement, vacation, security benefit, and educational programs for approximately 10,000 active and retired members of Steamfitters Local 638 and their dependents. It operates two branches—Construction Trades (CTB) and Metal Trades (MTB)—each providing pension, welfare, and educational benefits, and is funded by employer contributions negotiated through collective bargaining agreements.

Product overview

Steamfitters Industry Fund is a Taft-Hartley multi-employer trust fund organization serving approximately 10,000 active and retired members of Steamfitters Local 638 and their dependents. The organization operates two branch structures: Construction Trades Branch and Metal Trades Branch. The Construction Trades Branch provides pension, supplemental retirement (401a), welfare/health, HRA, vacation, security benefit, and educational services. The Metal Trades Branch provides pension, welfare/health, and educational services. Both branches offer member self-service and employer portal access. The Training Center provides trade-specific education including OSHA certifications, welding courses, HVAC training, and Site Safety Training. The funds are organized under the Taft-Hartley Act of 1947 and are governed by joint labor-management trustees.

Differentiator

Problem solved

Functional benefit

Products and services

• Construction Trades Branch Pension Fund Defined benefit pension plan providing retirement income benefits to construction trades members of Steamfitters Local 638 based on years of credited service.
• Construction Trades Branch Supplemental / 401(a) Retirement Plan Supplemental defined contribution retirement savings plan providing additional retirement income through employer contributions for construction trades members.
• Construction Trades Branch Welfare Fund Health and welfare benefits including medical, prescription, and dental coverage for construction trades members and dependents, administered through partner providers (Empire BlueCross BlueShield, Express Scripts, MetLife).
• HRA - Health Reimbursement Account Health Reimbursement Account allowing CTB members to be reimbursed for qualified medical expenses.
• Construction Trades Branch Vacation Plan Vacation benefit plan providing paid time off benefits to eligible construction trades members based on employer contributions.
• Construction Trades Branch Security Benefit Fund Security benefit fund providing financial protection and death benefits to construction trades members and their beneficiaries.
• Construction Trades Branch Educational Fund Educational fund supporting training and apprenticeship programs for steamfitting trade skills including welding, HVAC, OSHA safety, and NYC DOB Site Safety Training (SST) certifications.
• Metal Trades Branch Pension Fund Defined benefit pension plan providing retirement income to metal trades members based on years of credited service.
• Metal Trades Branch Welfare Fund Health and welfare benefits including medical, prescription, dental, and vision coverage for metal trades members and dependents, administered through partner providers including Anthem Blue Cross and the supplemental retirement fund administered by John Hancock.
• Metal Trades Branch Educational Fund Educational fund providing training programs, apprenticeship opportunities, and certifications for metal trades service technicians, administered by Executive Administrator William J. Turnbull.
• Training Center Classes Comprehensive training programs including OSHA safety courses, welding certifications, HVAC training, NYC DOB Site Safety Training (SST), and continuing education for journey persons, delivered in-person at the Long Island City Training Center and online.
• Steamfitters' Industry Assistance Program (SIAP) Confidential and voluntary support program for members and eligible dependents dealing with substance use disorder, directed by Roger Ross, LAP-C.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• Enterprise Association Steamfitters' Local Union 638coreStrategic or Co-development Partner · 1 January 1947The union local representing steamfitters and metal trades workers. The fund is organized to provide benefits to members of this union under the Taft Hartley Act framework.
• Mechanical Contractors Association of New YorkcoreStrategic or Co-development Partner · 1 January 1947The employer association representing contractors who contribute to the benefit funds. Jointly with the union, they serve as trustees for the multiemployer plans.
• Empire BlueCross BlueShieldmajorOthersHealth insurance provider for welfare fund benefits including EPO and MediBlue plans. Provides medical coverage for members and dependents.
• Express ScriptsmajorOthersPrescription drug coverage provider for welfare fund members. Handles retail and mail order prescription benefits.
• MetLifemajorOthersDental insurance provider offering PDP Plus network for members through welfare fund benefits.
• John HancockmajorOthersRetirement plan administrator providing supplemental retirement fund management and online account access for members.
• Anthem Blue CrossmajorOthersProvides vision care benefits and Medicare-related coverage options for Metal Trades Branch welfare fund members.
• United AssociationminorOthersNational trade union for pipe trades workers. Referenced for construction supervisor certificate program affiliation.
• AFL-CIOminorOthersFederation of American labor unions providing resources and advocacy for affiliated unions.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Direct peers

• IBEW Local Union No. 3 Benefit Funds: Jointly-trusted Taft-Hartley multiemployer benefit fund administered for IBEW Local 3 electricians in NYC, offering pension, welfare, and training programs — directly comparable in structure, membership scale, and benefit portfolio to Steamfitters Industry Fund.
• Plumbers Local Union No. 1 Welfare and Pension Funds: Taft-Hartley multiemployer benefit fund providing pension, health/welfare, and apprenticeship training for plumbers and pipefitters in the NYC metropolitan area — closely comparable as a building trades multiemployer fund serving a similar skilled trade workforce.
• New York City District Council of Carpenters Benefit Funds: Multiemployer benefit fund providing pension, welfare, vacation, annuity, and training benefits for NYC carpenters union members — comparable in jointly-trusted structure, geographic concentration in NYC, and multi-product benefit offering.
• Sheet Metal Workers Local 28 Benefit Funds: Taft-Hartley multiemployer benefit trust serving NYC-area sheet metal workers with pension, welfare, and training programs — directly comparable in trade focus, NYC concentration, and benefit fund structure.
• United Association (UA) Local 1 of New York Benefit Funds: Taft-Hartley benefit fund for plumbers, pipefitters, and HVAC service technicians in NYC — directly comparable as a UA-affiliated multiemployer trust covering overlapping pipe trades work in the same geography.

Broad incumbents

• Boilermakers National Pension Trust: Large national multiemployer defined benefit pension fund for Boilermakers union members across the U.S. — comparable as a building-trades multiemployer pension plan but operating nationally with broader geographic and demographic diversification.
• Bricklayers and Masons International Pension Fund: National Taft-Hartley pension and welfare fund serving bricklayers and craftworkers — comparable multiemployer structure but with broader national reach and a different trade focus than Steamfitters.
• Teamsters Local 237 Pension and Welfare Funds: Taft-Hartley multiemployer benefit funds for NYC public and private sector Teamsters members — comparable as a jointly-trusted multi-product benefit fund in the NYC market but covering a broader, non-construction workforce.

Regional players

• Operating Engineers Local 14 Pension and Welfare Funds: Multiemployer benefit fund for NYC operating engineers — comparable Taft-Hartley structure and NYC construction focus, though serving heavy equipment operators rather than pipe trades.
• Laborers' International Union of North America Local 79 Benefit Funds: Multiemployer pension and welfare fund serving NYC laborers — comparable as a jointly-trusted multiemployer benefit fund serving NYC construction workers in a related but distinct trade.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/steamfitters-industry-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Steamfitters Industry Fund