Pembroke Pines Firefighters' & Police Officers Pension Fund

Pembroke Pines Firefighters' & Police Officers Pension Fund

The City of Pembroke Pines Firefighters' & Police Officers Pension Fund was created in 1973 as a single-employer defined-benefit plan serving the city's sworn public safety personnel. The plan is administered by a board of trustees chaired by Steve Dougherty, with day-to-day operations managed by Plan Administrator James Fisher. It provides lifetime retirement, disability, and death benefits to its members and operates under a mandate to maintain actuarial soundness. The fund's investment decisions are made through the oversight of the board, which is bound to act for the exclusive benefit of the plan's participants. The fund pursues a diversified investment strategy extending beyond traditional public equities and fixed income into private markets and tangible assets. Its real-asset sleeve includes dedicated allocations to timberland and agriculture, with confirmed holdings in the Molpus Woodlands Group Timberland Fund, the Ceres Partners Agricultural Fund, and a legacy AmSouth Timber Fund. A private credit allocation rounds out the alternatives book. The plan benefits from its participation in the Florida Public Pension Trustees Association, providing educational and governance resources to its fiduciaries. The fund's administrative operations are distinctly lean for a municipal plan. James Fisher leads a three-person administrative team based at a single office in Pembroke Pines, Florida. The board functions in close coordination with the Broward County Police Benevolent Association, the recognized collective bargaining unit for the plan's active members. Publicly available personnel records indicate no recent executive turnover at the administrative level. The plan's structural hallmark is not its scale but its governance model — a municipal single-employer board managing specialized alternative exposures that many similar-sized public plans avoid. The timber and agriculture commitments represent a multigenerational asset-liability matching approach, pairing long-duration real assets with a geographically concentrated liability pool of Florida-based first responders. The fund's adherence to this specific natural-resource curve sets it apart from peers that default to broad-market beta or a generic fund-of-funds approach.