Boynton Beach Firefighters' Pension Fund

Boynton Beach Firefighters' Pension Fund

Established in 1958 by the City of Boynton Beach, the fund provides defined-benefit pensions to the city's firefighters and officers. A five-member board of trustees — chaired by Jon Raybuck and including long-serving trustee Robert Taylor, who has held his seat since 1999 — oversees investment policy. Fire Chief Hugh Bruder sits as a non-voting ex-officio trustee. The fund allocates across domestic and international equities, bonds, cash equivalents, and a notably concentrated real estate sleeve. The property portfolio includes stakes in the Intercontinental U.S. Real Estate Investment Fund, Harrison Street Core Property Fund, ASB Allegiance Real Estate Fund, and a Principal Real Estate debt vehicle — a mix of mixed-use and commercial assets all within the United States. The fund participates in trustee education and advocacy through active membership in the Florida Public Pension Trustees Association and the National Conference on Public Employee Retirement Systems. With estimated assets of $191 million, the fund operates with a lean governance structure common to municipal firefighter plans. The board has not publicly disclosed any separate investment consultants or outsourced-CIO relationships. Its real estate fund commitments suggest a preference for institutional core and core-plus strategies rather than direct property acquisition or development. Unlike state-level pension giants, this fund's structural differentiator is its closed, single-employer nature: it serves one city department, with no new municipal entrants diluting the risk pool. That narrow base forces a conservative liability-matching posture, visible in the absence of private equity or venture capital from its known holdings.