Union Labor Life Insurance said the assets in its Mortgage Separate...

Union Labor Life Insurance said the assets in its Mortgage Separate Account J, known as J for Jobs, increased to $1.196 billion in 2000, up 29% from the previous year. The five largest investors in the program, designed to let pension plans invest in high-quality mortgages for properties constructed and renovated by union workers, are: the $1.2 billion Bricklayers and Trowel Trades International Pension Fund, $7 billion Central Pension Fund International Union of Operating Engineers, $1.4 billion Service Employees International Union Master Trust and $800 million National Roofing Industry Pension Fund, all of Washington; and the $3.8 billion National Elevator Industry Pension Fund, Columbia, Md. The account had a five-year annualized return of 8.1% as of Dec. 31, vs. 6.46% for its benchmark, the Lehman Brothers Aggregate index, for the same period.