Pipeline Industry Pension Fund

In 1964, a foundational partnership was formed between signatory contractors and the United Association union. This collaboration wasn't about building a new pipeline, but about securing the future of the people who do. They established the Pipeline Industry Benefit Fund (PIBF), a multi-employer pension and health plan designed to provide security for the industry's workers and their families. The model was a joint effort from the start. Based in Tulsa, Oklahoma, the fund operates as a Taft-Hartley trust, managed by a board with equal representation from labor and management. Capital comes directly from contributions made by the contractors and union members, creating a self-sustaining financial ecosystem for employee benefits. This structure ensures that those with a vested interest in the industry's health are the ones guiding its most critical support system. A key moment in its operational history was the passage of the Employee Retirement Security Act of 1974 (ERISA), which brought the fund under federal regulation and standardized its governance. The fund provides a defined benefit pension plan, alongside health and welfare benefits, ensuring a stable retirement for participants who meet the eligibility requirements.