From the May AFL-CIO Investment Trust Corporation Newsletter —
Financing & Owning Our Future
BIT Participates in Breakout Session at the Building & Construction Trades Departments 2012 Legislative Conference
Over 100 union leaders participated in a session titled, “Financing and Owning Our Future” at the Building & Construction Trades Department’s annual legislative conference. The discussion, moderated by ITC Senior Vice President, Randy Kinder, highlighted the innovative ways unions can work with the AFL-CIO Family of Funds to utilize their pension capital to finance construction and create jobs for union members.
Panelists included Rinse Brink, Managing Director of PNC Realty Investors (PRI), investment advisor to the BIT, Ted Chandler, Chief Operating Officer of the AFL-CIO Housing Investment Trust and Deborah C. Nisson, Vice President, Ullico Investment Advisors.
A common theme emerged in these discussions: the importance of labor reinvesting in itself – taking ownership of our pension plan investments to create new union jobs and ensuring that our pension plans invest in ways that match our values.
“It’s really all about us. When we talk about reinvesting in ourselves, we’re not only building the assets of our pension plans, we’re also making investments in job creation,” says Ken Rigmaiden, Executive General Vice President of the International Union of Painters and Allied Trades. “It’s a help and an asset to us all.”