MESSAGE FROM THE CEO: Make No Little Plans

A P U B L I C A T I O N B R O U G H T T O Y O U B Y U L L I C O | L A B O R ’ S C O M P A N Y | V O L . 6 , I S S U E 2 | W I N T E R 2 0 1 8

MESSAGE FROM THE CEO:

Make No Little PlansAs we near the end of the year, and I reflect on the progress of our company, I am reminded of a quote from Daniel Burnham, the American architect and urban developer whose projects transformed cities like Chicago and Washington, D.C. He said, “Make no little plans.” Continued on page 2

INSIDE THIS ISSUE:1 Message from the CEO

3 Ullico Expands Fixed-Income Management Services

4 JFK Terminal and TWA Hotel

6 Union Labor Life Celebrates Longstanding Clients

8 Get to Know Ullico

10 Supreme Court Decision Fuels Lawsuits

11 Union Funds Earn Dividends on Stop-Loss Insurance

13 2018 Scholarship Winners

14 Welcome to Our New Clients

Photo courtesy of the International Union of Bricklayers and Allied Craftworkers

L to R: UAW Secretary Treasurer Ray Curry, Ullico President and CEO Ed Smith, and UAW President Gary Jones meet in Detroit to talk about advancing workers’ rights.

2 | ULLICO BULLETIN | WINTER 2018

For over 90 years, Ullico has pursued the idea of protecting and growing the American labor movement, with products designed to provide innovative solutions for the union workplace. That’s no little plan. Every year our goal is to find the magic that fulfills our mission. In 2018, we continued to make real progress.

Our investment platforms had another outstanding year. The Ullico Infrastructure Fund (UIF), which not that long ago was only a big idea, really took off in 2018 with over $1 billion in assets under management (AUM), and almost $1.5 billion in commitments. UIF now has 11 investments in the U.S. and Canada. It recently joined a coalition to develop the newly announced JFK Airport Terminal One Infrastructure Project in New York that will put thousands of union members to work.

In the 1970s, Union Labor Life Insurance Company had an idea to use union pension funds to build projects that would create investment returns and jobs for union members. It led to the creation of Separate Account J, also known as “J for Jobs.” Forty-one years later, J for Jobs is still a big plan. This year, the Account closed $1.1 billion in new mortgage loans that were part of total financing on commercial properties that amounted to $2.9 billion. Those projects are designed to meet our goals of creating strong investment returns, and they created thousands of jobs and millions of work hours for union members and union contractors

Union Labor Life was founded on the big idea of providing life insurance for union members who either couldn’t

afford or couldn’t get it. Today, we still provide affordable life insurance, and our focus will remain on promoting the idea that workers and their families should always have access to the life insurance they require and deserve. The company achieved a record in new stop loss sales of $30.4 million in 2018. Furthermore, Union Labor Life issued over $4 million in policy dividends to health and welfare funds participating in one of the International Union Group Medical Stop Loss Programs.

While we are working to grow unions, we are also fighting to protect unions. We recently hosted a webinar to educate our insureds on the Janus decision by the Supreme Court, where union opponents argued against “fair share” agency fees. We are also protecting unions with our cyber liability policies, which grew 60 percent this year by policy count, and with our professional liability coverage, which protects unions, labor leaders, joint apprenticeship training committees, and fund trustees. Our mission of protecting unions and their members is another reason why we are labor’s own insurance company.

At Ullico, our success this year and every year comes from the efforts of a great workforce, talented leadership by our board of directors, and investors, consultants and brokers who believe in our mission. I promise you that we will continue to make “Big Plans” for a bright future for our company, and the labor movement. Happy Holidays!

Edward M. SmithPresident and CEOUllico Inc.

MESSAGE FROM THE CEO:

Make No Little PlansContinued from cover page

Ullico supports the labor movement and its drive for workers’ rights. That

means driving the right vehicles. Recently, Ullico created an incentive program

to encourage employees to buy union-built vehicles. The program, which raises

awareness and promotes the UAW Union-Built Vehicle Guide, is just one more

way we stay consistent with our mission.

STEERING TOWARD WORKERS’ RIGHTS

VOL. 6, ISSUE 2 | WINTER 2018 | 3

Ullico recently announced that it is

expanding its in-house capability

and launching UIA Investment

Management, LLC (UIA-IM), an

affiliated investment platform that

will provide focused fixed-income

investment management services to

institutional fund sponsors. UIA-IM

will be based in Chapel Hill, N.C.

and is expected to launch with initial

assets under management (AUM)

totaling approximately $500 million.

“We are pleased to add in-house

U.S. fixed-income management to

the range of investment services we

offer to our union clients. UIA-IM will

focus on the unique requirements of

Taft-Hartley pension funds and union

operating funds, and will also offer

customized investment management

services to other institutional funds

including corporate and public

pension funds, endowments and

foundations, family offices, and

government reserve funds,” said

Edward M. Smith, President and Chief

Executive Officer of Ullico Inc.

The firm will be led by Stephen A.

Eason, CFA, a former senior manager at

Amundi Smith Breeden, who has over

30 years of investment experience.

Julie E. Curd, former Director of Client

Service at Amundi Smith Breeden,

has also joined the firm.

“Our team is excited to partner with a

firm that shares our values and long-

term business perspective. Our new

company will combine the resources

of an established financial services

company with an investment team

offering a proven track record of

success through market cycles,” said

Mr. Eason, who will serve as President

of UIA Investment Management.

Timothy J. Cunneen, CFA, and

Daniel R. Adler have also joined

UIA-IM and will lead the investment

team. Mr. Cunneen will serve as

Chief Investment Officer and Senior

Portfolio Manager. Mr. Adler will serve

as a Senior Portfolio Manager and

is also expected to serve on the new

company’s Board of Directors.

“As a member of the Ullico family,

UIA Investment Management will

build on the 30-plus year success

of Ullico’s commercial real estate

fund known as ‘J for Jobs’ and the

more recent success of the Ullico

Infrastructure Fund. Ullico is

committed to building a

best-in-class fixed-income

company that provides

tailored solutions to

institutional clients,”

said Joseph R. Linehan, President of

Ullico Investment Advisors.

In addition to Eason, Curd, Adler

and Cunneen, the UIA-IM team will

include: St. John M. Kelliher, CFA,

Director of Operations; Anna Griffiths,

CFA, Associate Portfolio Manager; and

Kristie Hannemann, CFA, Research

and Information Systems Manager.

Kelliher, Griffiths, and Hannemann

are all former employees of Amundi

Smith Breeden.

In the short term, the UIA-IM team

will be employees of UIA and will

begin managing assets before year-

end. The firm plans to formalize the

UIA-IM affiliate structure in early

2019.

ULLICO EXPANDS FIXED-INCOME MANAGEMENT SERVICES THROUGH UIA INVESTMENT MANAGEMENT, LLC

A Ullico Affiliate

INVESTMENT MANAGEMENT


In October, New York Governor Anthony Cuomo announced a $13 billion investment to support the redevelopment of JFK Airport, including the expansion of newer terminals, the relocation of older terminals and transformation of the roadways leading to the airport. It’s one of the largest, private-public infrastructure projects in the world, and Ullico is a key financial partner. Ullico’s participation is funded through the Ullico Infrastructure Fund (UIF).

As part of The Terminal One Team, Ullico joins an innovative coalition of airlines, labor, minority and women-owned businesses and strong financial partners committed to refurbishing the nation’s aging infrastructure. UIF’s “Responsible Contractor Policy” promotes that the project creates good-paying construction jobs for union members.

“This project will put thousands of union members to work for a long period of time, but it is more than just a jobs program. With union-financing in this deal, this is a partnership model that works for workers, management and investors. The Terminal One team, in line with the objectives outlined by Governor Cuomo and the Port Authority, went the extra mile to make sure this project is a winner for all parties,” said Edward Smith, President and CEO for Ullico Inc.

Construction is expected to begin early 2020 and finish during the second half of 2025, with the new terminal opening in phases to ensure uninterrupted gate capacity and a seamless transition, all while creating an estimated 30,000 direct, construction and spin-off jobs for the region over time.

The $13 billion project is one step in a plan initiated by Gov. Andrew Cuomo to increase infrastructure investment spending in New York: “It will provide thousands of good paying, middle class jobs, which is what this nation needs,” Cuomo said during his announcement. “It will provide a generation of union jobs that have an apprentice program, and have benefits, and have safety, and have training.”

ULLICO JOINS COALITION TO REDEVELOP JFK TERMINAL


Ullico, through Union Labor Life’s Separate Account J (known as ‘J for Jobs’) also committed to providing $35,000,000 to finance development of The TWA Flight Center Hotel and the rehabilitation of the Saarinen Terminal at JFK International Airport. The project includes the ground-up construction of two hotel towers, as well as the restoration and adaptive reuse of the iconic TWA Flight Center.

The hotel’s amenity space and common areas will be housed in the TWA terminal, and each hotel tower will connect to the TWA terminal via enclosed walkways. The 7-story towers will house a total of 512 guestrooms, with views of JFK’s runways and the TWA Flight Center.

“New York is a leading global city, with a powerful influence over worldwide commerce, finance, culture, fashion and entertainment. For these reasons, it remains an attractive destination for domestic and international travelers,” said Herb Kolben, senior vice president of Union Labor Life’s Real Estate Investment Group. “As an extension of JFK airport, the TWA Hotel will give travelers a place to rest after a hectic day of traveling or when they experience unanticipated flight cancellations.”

The TWA Flight Center, first opened in 1962, was designed by renowned architect Eero Saarinen, who is also known for his work on the St. Louis Arch and Dulles International Airport. The TWA Flight Center at JFK was built under the management of Howard Hughes to physically represent the era’s ‘excitement of travel.’ The space will be restored with restaurants, bars and retail outlets, including a cocktail lounge featuring “Connie,” a 1958 Lockheed Constellation airplane.

Financed by The Union Labor Life Insurance Company through J for Jobs the loan was approved with the condition all construction will be built with union labor.

Since its inception, J for Jobs has funded over 80 projects in New York City, worth $5.2 billion. Over the last five years, these projects have created over 10,000 jobs, representing more than 20 million labor hours and $1.5 billion in personal income.

J FOR JOBS SUPPORTS TWA HOTEL

J FOR JOBS: Separate Account J (“the Fund”) is offered through a group annuity contract issued by The Union Labor Life Insurance Company (“Union Labor Life”) and is sold through Ullico Investment Company, LLC (Member FINRA/SIPC), both subsidiaries of Ullico Inc. The Fund will only be offered to qualified institutional and accredited investors. Investments in commercial mortgage loans secured by illiquid real estate are subject to additional risks including the potential inability of an investor to redeem units. The investment return and principal value of the Fund will fluctuate so that an investor’s units, when redeemed, may be worth more or less than original cost. In addition, fluctuations in interest rates and market volatility may limit available financing for real estate investments held by the Fund, thereby adversely affecting the value of the underlying investments, the investment return and the liquidity of the investments. ULLICO INFRASTRUCTURE FUNDS: UIF is managed by Ullico Investment Advisors, Inc. (“UIA”) and is sold through Ullico Investment Company, LLC (Member FINRA/SIPC), both subsidiaries of Ullico Inc. UIA is a registered investment adviser with the SEC under the Investment Advisers Act of 1940, as amended (“Act”). UIF will only be sold to “accredited investors” as that term is defined in Regulation D of the Securities Act of 1933. Investment in infrastructure is speculative, not suitable for all investors, and should be undertaken only by experienced and sophisticated investors who are willing to bear the high risks of such an investment, which include, but are not limited to, lack of liquidity, restrictions on transferring ownership to the Fund, absence of information regarding valuation and pricing, and high fees and expenses. Potential investors in the Fund should carefully read the Confidential Private Placement Memorandum for a description of the potential risks associated with investment in the Fund.

ECONOMIC IMPACT: Direct union impact figures provided by an economic impact study performed by Pinnacle Economics through input-output analysis utilizing IMPLAN modeling software. The study was performed using estimated project costs and union prevailing wage data from state departments of labor as provided by Ullico Investment Advisors, Inc. Jobs, Hours of Work and FTE figures reflect totals over the life of the project. All construction impacts are temporary in nature, and unfold as construction spending unfolds. This is an illustration of the projected economic impact of selected commercial real estate projects. All projections assume the completion of the relevant construction project which can depend on several factors including borrowers meeting all lending obligations. Projections are based on overall project costs which include the participation of Separate Account J.


Teamsters 25176 YEARS WITH UNION LABOR LIFE

Left to Right: Daniel Wolak, former President, Union Labor Life; Matt Taibbi, Principal Officer, Teamsters 251; Daniel Emery, Sales Manager, Union Labor Life.

In 1942, Union Labor Life began to provide life and accidental death coverage for members of the Chauffeurs, Teamsters and Helpers Local 251 (Teamsters 251). Over 75 years later, Teamsters 251 still depends on Union Labor Life for this coverage. With close to 3,000 active members, Teamsters 251 is a relatively large union that negotiates with several employer groups, the largest being UPS.

Teamsters 70165 YEARS WITH UNION LABOR LIFE

Left to Right: Giancarlo Prezioso, Fund Manager, Mid-Jersey Trucking Industry and Teamsters Local 701 Health & Welfare Fund; Brian Doherty, Sales Manager, Union Labor Life.

The Mid-Jersey Trucking Industry and Teamsters Local 701 (Teamsters 701) Health and Welfare Fund has depended on Union Labor Life for life, accidental death, and short-term disability coverage for its members since 1953. Teamsters 701 is a diverse union, with members employed in various occupations ranging from truck drivers to office personnel to municipal workers throughout New Jersey.

IBEW Local 60161 YEARS WITH UNION LABOR LIFE

Left to Right: Frank Rubenacker, Business Manager, IBEW Local 601; Larry Paradise, Vice President of Sales, Union Labor Life.

IBEW Local 61 has received life and accidental death coverage from Union Labor Life since 1957. For over 60 years, members have depended on this protection from Union Labor Life.

Union Labor Life Celebrates

Longstanding ClientsOver the last 90 years, The Union Labor Life Insurance Company (Union Labor Life) has had the

pleasure of doing business with many union clients. For some clients, this business relationship

has lasted for over 50 years. In 2016, Union Labor Life began to recognize these funds’

longstanding loyalty by making office visits and presenting awards to these valued customers.

Through 2017 and into 2018, Union Labor Life has continued recognizing our long-term

customers, which included the following visits.


Roofers 15461 YEARS WITH UNION LABOR LIFE

Left to Right: Left to Right: Larry Paradise, Vice President of Sales, Union Labor Life; Sal Giovanniello, Business Manager, Roofers 154.

For the United Union of Roofers, Waterproofers & Allied Workers Local Union No. 154 Pension and Welfare Fund (Local 154), short-term disability coverage for its members has come from Union Labor Life for over 60 years.

Local 154 is located in Hauppauge, N.Y., and is part of an international union representing members who work with all types of roofing and waterproofing systems.

Motion Pictures Industry Pension & Health Plans 66 YEARS WITH UNION LABOR LIFE

Left to Right: Ryan McMath, Life Insurance Coordinator, MPI; Nicole Menendez, Assistant Manager, MPI; Stacie Estrada, COB Coordinator, MPI; Lorrane Bonnano, Senior Director, MPI; Jene Alvarado, Participant Services Manager, MPI; Dave Camp, CFO, MPI; Daniel Wolak, former President, Union Labor Life; Dave Asplund, CEO, MPI; John Benavidez, Sales Executive, Union Labor Life.

The Motion Picture Industry Pension and Health Plans (MPI) are the product of the merging of the Motion Picture Industry Health Plan and the Motion Picture Industry Pension Plan, which were established in 1952 and 1953, respectively. MPI members have depended on Union Labor Life for group life insurance coverage since these plans were established over 60 years ago.

Local Union No. 7 of the International Association of Bridge, Structural & Ornamental Iron Workers51 YEARS WITH UNION LABOR LIFE

Left to Right: Daniel Wolak, former President, Union Labor Life; Bill Hurley, Financial Secretary-Treasurer, Iron Workers Local 7; Daniel Emery, Regional Sales Manager, Union Labor Life; Shawn Nehiley, Business Manager, IW Local 7.

Since 1967, Iron Workers Local 7 has had Group Life coverage with Union Labor Life. Located in the Boston area and covering over 3,000 lives, the group initially had a death benefit of $1,000. In 2016, the union inquired with Union Labor Life Regional Sales Manager Daniel Emery about increasing the benefit payable to their members from $1,000 to $5,000. After a quick response from Union Labor Life, Local 7 increased the benefit for its members, and have since expressed satisfaction with their decision to provide this additional insurance amount.

UA International Staff Plan67 YEARS WITH UNION LABOR LIFE

Left to Right: Daniel Wolak, former President, Union Labor Life; Mark McManus, General President, UA; Edward Smith, President and CEO, Ullico, Inc.

For 67 years, The United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry for United States and Canada (UA) International Staff Plan has received its life and accidental death coverage from Union Labor Life. The UA represents approximately 340,000 plumbers, pipefitters, sprinkler fitters, service technicians and welders in local unions across North America.


Get to Know UllicoUllico employees work every day on behalf of the labor movement. They’re eager to support

and protect union members and their families. Our team is made of dedicated, hardworking

individuals whose accomplishments shine inside and outside the office, whether it’s through

professional development, community service, or participation in industry events. Get to know

some of the good work that our employees do.

PUBLICIZING THE IMPORTANCE OF LIFE INSURANCE Ullico participated in Life Insurance Awareness Month (LIAM)

by launching a 30-day campaign to promote the benefits of

this important form of protection. The company engaged union

members, their families and the public through social media

with the tag #ULLICOFORLIFE.

SHARING EXPERTISE AND ENERGY AT IFEBPUllico shared its expertise during two panel sessions at the International

Foundation of Employee Benefit Plans conference. Stephanie Whalen,

President of The Union Labor Life Insurance Company, spoke about stop-loss

insurance, including how it works, how it differs from reinsurance, what it

costs and key coverage provisions. Jeff Murphy, Managing Director of Ullico

Infrastructure Fund, spoke on the history of public-private partnerships, how

the model works, the role of infrastructure investments in portfolios, and

regulatory concerns and valuation.

RAISING MONEY TO FIGHT CANCERUllico employees hosted an internal bake sale and silent

auction to raise money for cancer awareness. Combined

with a matching donation from the corporate office, they

raised $11,924 for the Madra Cochrane Foundation and

Arizona Camp Sunrise.


CONNECTING PUBLIC SAFETY AND INFRASTRUCTURE INVESTMENTSonia Axter, Managing Director, Infrastructure Investments, delivered a presentation

titled “Pension Investing in Infrastructure Strengthens Communities and Makes

Them Safer” at the National Conference on Public Employees Retirement Systems

(NCPERS) Public Safety Conference.

BUILDING A PLACE FOR KIDS TO PLAYUllico employees recently volunteered to help the Major League Baseball

Players Association (MLBPA) and KaBoom! construct a playground in

Northeast Washington, D.C. KaBoom! is a national nonprofit dedicated

to giving all kids– especially those living in poverty– the childhood they

deserve through great, safe places to play. This project was sponsored

by the MLBPA, a Ullico insured. Five staff members spent part of their

weekend helping to build the play space

CONSERVING OUTDOOR RECREATION SITESUllico employees volunteered to help the Union Sportsmen’s Alliance (USA)

to build a new shoot station at Prince George’s County Trap & Skeet Center, a

public recreational facility in Glenn Dale, Md. The volunteer crews helped clear

the site, dig holes for the posts, pour concrete, and frame and erect the station.

USA is a nonprofit organization that unites unions through the preservation of

North America’s outdoor heritages.

EDUCATING EMPLOYEES ABOUT CYBERSECURITYOctober was National Cybersecurity Awareness Month (NCSAM), a time to

focus on how cybersecurity affects all Americans. Reflecting the idea that

cybersecurity is a shared responsibility, Ullico Vice President of Information

Technology Marc Zinsmeister shared educational material in weekly emails

to help communicate the threats and best practices of staying secure.


A SUPREME COURT DECISION FUELS LAWSUITS AGAINST UNIONS

Since a U.S. Supreme Court ruling in 1977, public-sector unions have been permitted to collect agency fees from nonmembers for the purpose of covering expenses associated with collective bargaining and representation. That decision was recently overturned by the Court in a ruling on the case Janus v. American Federation of State, County, and Municipal Employees, Council 31 (AFSCME), which held that ‘fair share’ agreements violate free association and freedom of speech protections.

“The meat of the decision is that it is unlawful for public sector unions to charge these fees unless the nonmember affirmatively consents to pay,” said Kerianne Steele, attorney at Weinberg, Roger & Rosenfeld. “Now opponents of organized labor are making a political argument… saying that existing membership cards that had been signed prior to the June 27 decision are somehow invalid because the alternative the individual had at the moment they signed prior to the decision was to pay a compulsory agency fee.”

During an educational webinar hosted by Ullico Casualty Group, Steele said that those arguments shouldn’t be entertained. She pointed out that Attorneys General in many states have already issued general advisories that affirm union rights and obligations in public workplaces, because the Janus decision does not affect arrangements between unions and union members. “The case is not about membership. It is not about membership cards,” said Steele. “That political argument by opponents of organized labor should have no success.”

THE PROSPECT OF BACK-FEE LITIGATION Justice Alito, writing for the conservative majority of the court, described the fees as a ‘windfall’ for unions, which Steele flatly rejected as an unfair characterization. “Those fees have been used by public sector unions to benefit both members and nonmembers, because they cover the costs associated with collective bargaining, grievance handling and other protections and advancements in the workplace that benefited everybody in the workplace, not just members,” she said.

However, Justice Alito’s remarks have inspired back-fee litigation. Through putative class-action lawsuits, opponents of labor claim an entitlement for nonmembers to reimbursement of all agency fees previously paid. While a union liability policy generally provides coverage for claims brought by members and nonmembers, whether and to what extent a particular loss is covered depends on the facts and circumstances of the loss and the terms and conditions of the policy or policies as issued.

Steele emphasized the importance of communication between unions as the lawsuits evolve. “This issue is calling for a high degree of coordination among unions,” she said. “They’re exchanging their best ideas, and that should apply to the back-fee litigation … The best approach is to be open about litigation, and share good defense strategies that could work for all of them.”

To watch the hour long webinar, please visit: ULLICO.COM/JANUS


The Union Labor Life Insurance Company

(Union Labor Life) has issued over $4,000,000

in policy dividends in 2018* to health &

welfare fund clients participating in one of the

International Union Group Medical Stop Loss

Programs. Since inception, Union Labor Life

has paid over $12,700,000 in policyholder

dividends through these programs.

As an experienced stop loss carrier, that has

offered group medical stop loss insurance for

over 35 years, Union Labor Life understands

the unique needs of self-funded plans.

The company works in partnership with our

policyholders to help manage large claim costs.

In addition to our claims and cost containment

services, policyholders benefit from the

company’s group program approach.

Policyholders participating in one of our

International Union Group Medical Stop Loss

Programs have the opportunity to receive

annual premium volume dividends based on

their specific International Union’s aggregate

program size. With favorable policy and/or

program overall experience, policyholders may

also be eligible to receive claims experience

dividends. Policies in these programs are

underwritten and issued by Union Labor Life.

The first of these programs began in 2012

with the International Brotherhood of Teamsters.

Union Labor Life has grown these dividend

programs and currently provides group medical

stop loss dividend programs to 7 international

unions. Union Labor Life is proud that these

programs build on our mission to give back

to Labor.

UNION FUNDS EARN DIVIDENDS ON STOP LOSS INSURANCE

*as of 10/24/18

THE INTERNATIONAL UNION GROUP MEDICAL STOP LOSS PROGRAMS POLICYHOLDERS

ARE REPRESENTED BY:


Supplemental insurance from The Union Labor Life Insurance Company helps workers by offering flexible solutions designed with union members in mind. Supplemental insurance products include:

• Term Life Insurance• Whole Life Insurance• Discount Dental Plan• Hospital Expense Protection• Accidental Death and Dismemberment (AD&D)

The Union Labor Life Insurance Company understands the labor movement and its members. As workplace insurance plans change, workers may want to address gaps in existing benefits with additional coverage.

DISCOVER THE DIFFERENCE:

UNIONCARE.COM

A NEW YEAR,A NEW POLICY


Emily Noel

Parent’s Name: Jim NoelUniversity: University of Maryland, College ParkYear in college: SophomoreMajor: Economics Career Aspirations: Marketing Position at a Fortune 500 company

Emily is a basketball enthusiast and also enjoys art. This upcoming year, she’ll be completing a marketing internship with the Diamondback – the University of Maryland’s student-run newspaper.

Megan Love

Parent’s Name: Karen LoveUniversity: DePaul UniversityYear in college: FreshmanMajor: International Studies

Megan aspires to join the U.S. Foreign Service and one day become an ambassador. She enjoys running, reading, music and dogs.

Karinton V. DeVille

Parent’s Name: Tonya DeVille University: University of Wisconsin-MadisonYear in college: FreshmanMajor: Biochemistry

Karinton plans to become a biochemist and conduct lab research on incurable diseases. She enjoys playing volleyball and basketball, hanging out with friends and family, reading books, and learning about black history. At college she works in the Visitors Relations office and hopes to become a university tour guide.

2018 SCHOLARSHIP WINNERSUllico Inc. announced the winners of the Daniel E. O’Sullivan Memorial Scholarship Award and Ullico

Scholarship Awards for children, 23 years old or younger, of current full-time Ullico Inc. employees.

Eligible dependents include high school seniors or high school graduates who plan to enroll or are

already enrolled in a full-time course of undergraduate study at an accredited two or four-year college,

university or vocational–technical school. Meet this year’s winners:

LET’S GET SOCIAL!Follow us on social media and stay up-to-date on news, events, and information that benefit your insurance and investment goals with Ullico.


WE ARE PROUD TO WELCOME OUR NEWEST CLIENTS WHO JOINED AND RENEWED AT THE ULLICO FAMILY OF

COMPANIES. WE THANK YOU SINCERELY FOR YOUR BUSINESS AND LOOK FORWARD TO A PROSPEROUS PARTNERSHIP.

Thank You to Our New and Renewal Clients

Alaska Joint Electrical Apprenticeship and Training Trust

Albany Area Commercial Printers Retirement Fund

Amalgamated Transit Union Local 256

American Federation of State, County and Municipal Employees Local 610

American Postal Workers Union Milwaukee Area Local 3 AFL CIO

Arizona Sheet Metal Pension Trust Fund*

Associated Fire Fighters Of Illinois (Shared Policy)

Boilermakers National Health and Welfare Fund*

Bricklayers International Pension Fund*

Building and General Construction Laborers Local 77

California Teachers Association Employees Health and Welfare

California-Nevada Electrical Joint Apprenticeship and Training Trust Fund

Campton Hills Police Pension Fund

Catskill Area Schools Employee Benefit Plan

Cement Mason Vacation/Holiday Trust Fund for Northern California

Cement Masons Apprenticeship and Training Trust Fund for Northern California

Cement Masons Health and Welfare Fund for Northern California

Cement Masons Pension Trust Fund For Northern California

Central New York JATC for the Electrical Industry

City of Aventura Police Officers Retirement Plan

City of Billings Montana 457(b) Deferred Compensation Plan

City of Billings Montana Self Insured Health Plan

City of Fresno Retirement Systems*

City of Hollywood Employees Retirement Fund

City of Lakeland Police Officers’ Retirement System

City of Punta Gorda General Employees’ Pension Board

City of Watertown

Commonwealth Association of School Administrators State of PA

Construction Teamsters Apprenticeship Fund of Southern California

Council of Administrative and Supervisory Employees, Inc.

Dearborn Firefighters Association

Eastern Connecticut Public Safety Independent Union

Hagerstown Teamsters and Motor Carriers Health and Welfare Fund

Hawaii Construction Alliance

Hawaii Glaziers Annuity Trust Fund

Hawaii Glaziers Health & Welfare Trust Fund

Hawaii Glaziers Pension Trust Fund

Hawaii Glaziers Retiree Health Reimbursement Fund

Hawaii Glaziers Stabilization Fund

Hawaii Glaziers Vacation & Holiday Trust Fund

Hawaii Shopmen’s Local 803 Pension Fund

Hawaii Stevedoring Multiemployer Pension Plan

Hawaii Terminals Multiemployer Pension Plan

Health and Welfare Fund of UA Local 373

I.A.F.F. Local 22 Philadelphia Fire Fighters Union Health Plan

IATSE Local 414

IBEW Local 490 Annuity Fund

IBEW Local 490 Pension Fund

IBEW Local No. 640 & Arizona Chapter NECA Defined Benefit Pension Plan*

IBEW Local No.134-NECA Vacation Savings Fund

IBEW Local Union No 479 Annuity 401K Plan

IBEW Local Union No 479 Pension Trust Fund

IBEW Pension Benefit Fund*

ILA Local 28

International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers Joint Apprenticeship of the Associated Steel Erectors of Chicagoland Bridge, Structural and Reinforcing Ironworkers the Apprentice Fund for Local 1 of the IABSOIW

International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers Southeastern States District Council of Iron Workers

International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers Southeastern States District Council of Iron Workers

International Association of Fire Fighters

International Association of Heat and Frost Insulators and Asbestos Workers Local 76

International Association of Machinists and Aerospace Workers International Association of Machinsts Local 794

International Association of Theatrical Stage Employees Local 253

International Brotherhood of Electrical Workers 545 Apprenticeship Training Trust Fund

International Brotherhood of Electrical Workers 545 Apprenticeship Training Trust Fund

International Brotherhood of Electrical Workers Indianhead NECA-IBEW Local 14 Welfare Fund

International Brotherhood of Electrical Workers Local Union No. 43 & Electrical Contractors Pension Fund*

International Brotherhood of Teamsters Supplemental Income 401(K) Plan

International Longshoremen’s Association International Longshorement & Warehousemen Union No. 30

International Longshoremen’s Association Local 1422

International Longshoremen’s Association Local 1985 Maintenance

International Union of Bricklayers and Allied Craftworkers

International Union of Operating Engineers Florida West Coast Operating Engineer Apprenticeship Trust Fund

International Union of Operating Engineers Local 150 AFL-CIO


International Union of Operating Engineers Local 18

International Union of Operating Engineers Local 624

International Union of Operating Engineers Operating Engineers Apprenticeship and Skills Improvement Committee for Central Illinois

International Union of Painters and Allied Trades Finishing Trades Institute of IUPAT District Council 77

International Union of Police Associations Nutmeg Independent Public Safety Employee Union (NIPSEU) Cromwell Police Union

Iron Workers Iron Workers Local 853

Iron Workers Local #58

Iron Workers Local 58

Iron Workers Welfare Fund

Iron Workers’ Locals No. 15 and 424 Pension Plan*

Ironworkers Health Fund of Eastern Michigan

Ironworkers Local 11 Welfare Fund

IUOE Local 14-14B Training Fund

Joint Council of Teamsters No. 3 Health & Welfare Fund

Laborers Local 17 Training and Educational Trust Fund

Laborers’ International Union of North America Local 1298

Laborers’ International Union of North America Local 60

Lake Charles Electrical JATC

Local 542 Supplemental Health and Welfare Plan

Local 624 Training Program

Los Angeles School Police Association

Marine Carpenters Pension Fund

Marion-Kokomo Electricians Joint Apprenticeship Training Committee

Metal Trades Branch Local 638 Pension Fund*

Metropolitan Marine Maintenance Contractors Association Inc.

Middletown Police Union AFSCME Local 1361

Minnesota Statewide Limited Energy Joint Apprenticeship and Training Fund

Minnesota Statewide Limited Energy Joint Apprenticeship and Training Fund

Montana Labor Management Alliance

Municipality El Segundo Police Officers’ Association

Municipality Nutmeg Independent Public Safety Employees Union

National Basketball Association & National Basketball Players Association

Nevada State Education Association

New Britain Police Union Local 1165

New England Teamsters & Trucking Industry Pension Fund*

New York State Nurses Association

Northwest Laborers Employers Training Trust

Oak Park Firefighters’ Pension Fund

Ohio Carpenters’ Welfare Fund

Ohio Government Benefit Cooperative

Operating Engineers Funds, Inc. 401(K) Plan

Operating Engineers Health and Welfare Fund

Operating Engineers Journeyman and Apprentice Training Trust

Operating Engineers Local 150 Apprenticeship Fund

Operating Engineers Local 318 Joint Apprenticeship & Advanced Training Fund

Operating Engineers Local 513 Journeymen & Apprenticeship Training Fund

Operating Engineers Pension Trust

Operating Engineers Vacation Holiday Savings Trust

Paducah Electrical LMCC Trust Fund

Painters District Council 81 Health and Welfare Fund

Pennsylvania Foundation for Fair Contracting

Pension Fund of Cement Masons Union Local No. 502*

Plumbers & Steamfitters Local 267 Pension Fund*

Plumbers and Steamfitters Local 184 Dental and Vision Fund

Providence Fire Fighters IAFF Local 799

Retirement Plan for General Employees of the Town of Golden Beach

Rochester Laborers’ Welfare Fund

Saint Louis Building and Construction Trades Council

SEIU Local 200 United Benefit Fund

Service Employees International Union Education & Support Fund

Service Employees International Union Local No. 1 Pension Trust Fund

Service Employees International Union Service Employees Staff Union

Sheet Metal Workers International Association Dayton Area JATC

Sheet Metal Workers Local 7, Zone 1 Pension Plan

Southeast Florida ILA-Employers Pension and Welfare Fund

Southern California IBEW NECA Administrative Corporation

Southern California IBEW NECA Administrative Corporation

Southern California IBEW NECA Defined Contribution Plan

Southern California IBEW NECA Health Trust Fund

Southern California IBEW NECA Management 401K Plan

Southern California IBEW NECA Pension Trust Fund

Southern California IBEW NECA Supplemental Unemployment Benefit Trust Fund

Southern Illinois Laborers’ & Employers Health & Welfare Fund

Southern Nevada Operating Engineers Journeyman and Apprentice Training Trust

Southwestern Idaho Electrical Joint Apprenticeship and Training Trust

Steamfitters’ Industry Pension Plan*

Steamfitters’ Industry Security Benefit Fund*

Stevedore Industry Committee Welfare Benefit Plan

Teamsters Local 814 Annuity Fund

Teamsters Local 856

UAW Local 2326 Welfare Fund

UAW Local 696

UAW Local Union No 710

UFCW Local 2013

UFCW Local 555 - Employers Health Trust

Union Electrical Industry Master Trust*

Union ERP Equity Plan

UNITE HERE Chicago Hospitality Apprenticeship

United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada Local 3

United Brotherhood of Carpenters and Joiners of America - Texas Carpenters and Millwrights Training Fund

United Food and Commercial Workers International Union Local 881

United Food and Commercial Workers International Union Local Union 1439

United Furniture Workers Employees Pension Fund

United Furniture Workers Insurance Fund

United Public Employees of California, Local 792, LIUNA

United Wholesalers and Retailers Union

Upper Peninsula Plumbers and Pipefitters Education Fund

Vallejo Firefighters IAFF Local 1186

Vernon-Verona-Sherrill Central School District

_____________________________________

Client list represents both new and renewal customers of Ullico Inc. and its family of companies for the period of June 1, 2018 - October 31, 2018

* A client of Ullico Infrastructure Fund is defined as a client who has submitted signed paperwork and whose commitment has been formally accepted.

1625 Eye Street, NWWashington, DC 20006 www.ullico.com

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