City of Cape Coral Municipal Firefighters' Retirement Plan

City of Cape Coral Municipal Firefighters' Retirement Plan

The City of Cape Coral Municipal Firefighters' Retirement Plan operates as a single-employer public pension fund, established under Florida Statute 112.664, to provide defined-benefit retirement coverage for the city's firefighting personnel. Governance rests with a Board of Trustees chaired by Walter Stevens and split between firefighter-elected representatives — James Carroll III, Jason Spinner, and Harley (Gene) Clubb — and city-appointed or trustee-selected members including Secretary Richard Chappelle, Damon Alimonti, and Brian Fenske. The City of Cape Coral serves as plan sponsor, with funding and contribution policy determined through municipal budgeting. The plan pursues a diversified strategy across three principal asset classes. Its public equity portfolio anchors the growth allocation, while a fixed-income sleeve provides duration-matched liability coverage. On the private-markets side, the fund holds a direct commitment to the American Core Realty Fund, a mixed-use real estate vehicle that adds property-level exposure without the governance burden of separate accounts. The plan also carries a residual interest in securities class-action claims originating in United States jurisdictions. No publicly disclosed allocation targets or latest actuarial valuation were available for this review. Trustee education and peer engagement flow through active membership in the Florida Public Pension Trustees Association (FPPTA), the state's primary network for public-plan fiduciary training. The plan has not publicly reported total assets, staffing levels, or recent consultant mandates, which is consistent with Florida firefighter plans that fall below statutory reporting thresholds for broader public disclosure. The plan's most notable structural feature is its statute-bound identity: as a Chapter 112 plan, its benefit formula, funding method, and governance framework are dictated by Florida law rather than by municipal charter alone. That legal architecture places the board inside a defined oversight corridor — limiting autonomy but also insulating the plan from ad-hoc political interference — while the inclusion of firefighter-elected trustees ensures labor representation inside the investment decision chain.