August 6, 2014
By Stephanie West
Last month marked the 26th anniversary of the AFL-CIO Building Investment Trust. The fund is a commingled trust fund composed of qualified pension and retirement plans, which invests in real estate. A primary purpose of the fund is to earn a competitive return with a collateral objective of creating union jobs.
Today, the BIT has a record of more than 10 million construction hours currently underway across the United States. The BIT demonstrates the potential of union pension capital with $5.4 billion invested in over 180 projects to date, and 68 million construction hours created since its inception.
Hundreds of Unions invest in the trust. BIT has consistently provided outstanding returns for union investors. The money is used to create union jobs since BIT invests in quality building projects across the country.