# City of Naples Retirement Plan City of Naples Retirement Plan is a Pension Fund based in Naples, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Naples, United States - **Region:** North America - **Address:** Naples, FL, United States - **Founded:** 1923 - **Assets under management:** Undisclosed - **Website:** www.naplesgov.com - **LinkedIn:** https://www.linkedin.com/company/city-of-naples ## Regulatory record - **Reports private funds:** No ## About The City of Naples Retirement Plan provides defined-benefit pensions for the municipality's general workforce, a pool that excludes police and firefighters covered under distinct state-administered plans. The Florida Department of Management Services Division of Retirement monitors the plan's actuarial soundness under state law, requiring annual reporting on funding ratios, assumed rates of return, and amortization schedules. The city's substantial property-tax base — driven by luxury coastal real estate — serves as the primary funding backstop. The plan deploys capital through a conventional public-pension asset mix. Direct commitments to core real estate form a visible sleeve: American Realty Advisors holds a mixed-use position in Los Angeles, and UBS Realty Investors manages a similar asset in Hartford, Connecticut. Equities and fixed income run through a general investment portfolio structure, with manager selection governed by the Board of Trustees. No dedicated alternatives program, private equity carve-out, or internal management capability has been publicly disclosed. Pedro Herrera serves as board counsel, and Liz Willis functions as the senior pension accountant — a lean administrative setup consistent with a mid-sized municipal system. The plan operates from the city government offices in Naples, with no separate investment staff or satellite offices reported. The board awards investment mandates and monitors performance through periodic public meetings, where manager changes and actuarial updates are recorded in minutes. The plan's structural character derives from the geography it serves. Naples' retiree-heavy, high-net-worth demographic creates a political constituency with low tolerance for funding volatility, reinforcing a conservative allocation posture. The exclusion of uniformed personnel from this plan — Florida law permits separate risk classifications — further concentrates the beneficiary base among longer-tenured general city workers, shaping a liability profile skewed toward stable accruals rather than disability-driven early retirements. ## Sectors - Real Estate - Private Credit - Infrastructure ## People - Liz Willis — Pension Senior Accountant - Pedro Herrera — Board Attorney ## Questions ### Who runs investment decisions at the City of Naples Retirement Plan? The Board of Trustees holds fiduciary authority over all investment decisions, with legal counsel provided by Pedro Herrera. Day-to-day administration is handled by pension staff including senior accountant Liz Willis. The board selects external managers for each asset class through a public procurement process typical of Florida municipal plans. ### How is the City of Naples plan funded? Funding comes from three sources: employer contributions from the City of Naples general budget, employee contributions from covered workers, and investment returns on plan assets. The city's substantial property-tax revenues — underpinned by high-value coastal real estate — provide the economic base supporting employer contributions. ### Are Naples police and firefighters in this plan? No. Sworn police officers and firefighters are covered under separate pension arrangements administered through Florida state systems, not the City of Naples General Employees' Retirement System. This split follows Florida's municipal pension framework, which permits distinct risk classifications for uniformed personnel with earlier retirement eligibility. ### Does the plan invest directly in real estate or through managers? The plan uses external managers for real estate exposure. Confirmed relationships include separately managed accounts with American Realty Advisors for a Los Angeles mixed-use asset and UBS Realty Investors for a Hartford, Connecticut property. No direct property acquisition or in-house real estate team has been publicly disclosed. ### How does the Naples plan compare to other Florida municipal pensions? Naples operates at smaller scale than Florida's largest municipal systems — cities like Orlando, Miami, and Jacksonville run pension funds with billions in assets across multiple employee tiers. Naples' wealth-per-capita profile, however, gives the city an unusually strong tax base relative to plan size, which can contribute to more stable contribution patterns. ## Related profiles - [City of Montreal Retirement System](https://altss.com/profile/city-of-montreal-retirement-system) - [City of New Haven Employees' Retirement Fund](https://altss.com/profile/city-of-new-haven-employees-retirement-fund) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/city-of-naples-retirement-plan Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology