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City of Lincoln Police and Fire Pension Plan
The City of Lincoln Police and Fire Pension Plan has provided retirement, disability, and survivor benefits to Nebraska's public safety personnel since 1947,...
City of Lincoln Police and Fire Pension Plan
The City of Lincoln Police and Fire Pension Plan has provided retirement, disability, and survivor benefits to Nebraska's public safety personnel since 1947, operating as a defined benefit system under Internal Revenue Code Section 401(a). Guy Pinkman, a retired Lincoln Fire Department Captain, serves as Chairman of the Investment Board alongside City Finance Director Joe Dondlinger, while Human Resources Director Barb McIntyre administers the plan. The City of Lincoln sponsors and funds the municipal commitment. The plan's strategy extends well beyond the fixed-income core typical of municipal safety pensions. Portfolio construction includes real asset exposure through core real estate funds — PGIM PRISA III and RREEF America REIT II — alongside a DROP account asset pool. The program also reaches into buyout, distressed debt, and venture capital, spanning seed, start-up, and growth stages through a fund-of-funds structure. The geographic footprint stays largely domestic, concentrated in United States-based assets. Deployment estimates place total assets in the $340M range. Pinkman's external engagement — including a presidential appointment to the Pension Benefit Guaranty Corporation — brings federal-level governance exposure to the Lincoln board. The plan also participates in CORPaTH, an international pension alliance where Pinkman is a regular speaker, which may influence the fund's broader-than-expected allocation into private capital. The structural differentiator for a plan of this scale is governance continuity combined with an unusually open aperture for alternative assets. Where many sub-$500M municipal funds stick to consultants and passive allocations, Lincoln's board — led by a retired firefighter who built an institutional-grade network — operates with a hands-on trustee model that has introduced private equity-style diversification into a public safety retirement pool.
General information
Firm type
Pension Fund
Year founded
1947
Location
Region
North America
Country
United States
City
Lincoln
Corporate office
Lincoln, NE, United States
Principals
Guy Pinkman
Chairman of the Investment Board
Barb McIntyre
Plan Administrator
Joe Dondlinger
Board Member
Sector focus
Frequently asked questions
Who runs investment decisions at the City of Lincoln Police and Fire Pension Plan?
The plan's Investment Board is chaired by Guy Pinkman, a retired Fire Captain from the Lincoln Fire Department. Board membership also includes City Finance Director Joe Dondlinger. Day-to-day administration is handled by Barb McIntyre, the City of Lincoln's Human Resources Director. The board operates with a trustee-driven governance model rather than delegating full discretion to an external consultant.
What investment stages and asset classes does the plan target?
The plan allocates across a broader range than typical for a municipal public safety pension. In addition to core real estate via PGIM PRISA III and RREEF America REIT II, the portfolio reaches into buyout, distressed debt, and venture capital across seed, start-up, early-stage, and growth-stage investments. This is largely executed through a fund-of-funds structure rather than direct company investments.
Does the plan invest directly in companies or only through funds?
The primary path to private markets exposure is a fund-of-funds approach, which layers diversification across external managers. Direct co-investment or direct company-level positions are not publicly confirmed for this plan. The real estate exposure is also fund-based, through institutional commingled vehicles.
How is the plan governed and who sponsors it?
The City of Lincoln serves as the plan sponsor, with contributions coming from the municipal government. Governance sits with an Investment Board whose members include career public servants — a retired Fire Captain as chair and the sitting City Finance Director as a board member. The plan operates under Internal Revenue Code Section 401(a) as a defined benefit system.
What is Guy Pinkman's background and influence on the plan's strategy?
Guy Pinkman is a retired Lincoln Fire Department Captain who transitioned from operational public safety to pension governance. He has served lengthy tenure as Investment Board Chairman and was appointed to the federal Pension Benefit Guaranty Corporation by a U.S. President. He is also a regular speaker at CORPaTH, an international pension alliance, which likely informs the plan's willingness to look beyond plain-vanilla municipal bond allocations.
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