Pipe Fitters Retirement Fund Local 597 is a multi-employer defined benefit union pension fund based in Chicago, Illinois. The plan was established in 1953, as a result of collective bargaining agreements between the local union and various employers to provide retirement and disability benefits for eligible participants. The plan is financed entirely by employer contributions as specified in the collective bargaining agreements. The assets of the pension fund are managed by the board of trustees, comprises of union trustees and employer trustees.