# City of Pembroke Pines Firefighters' & Police Officers Pension Fund City of Pembroke Pines Firefighters' & Police Officers Pension Fund is a Pension Fund based in Pembroke Pines, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Pembroke Pines, United States - **Region:** North America - **Address:** Pembroke Pines, FL, United States - **Founded:** 1973 - **Assets under management:** $200M–$500M (Altss estimate) - **Website:** www.pinespension.com ## Regulatory record - **Reports private funds:** No ## About The fund was established in 1973 as a single-employer defined-benefit plan covering sworn police officers and firefighters in Pembroke Pines, Florida. The City of Pembroke Pines sponsors the plan, and contributions flow from both the municipality and active members. A board of trustees—chaired by Steve Dougherty and administered by James Fisher—governs investment decisions, actuarial oversight, and benefit distributions. The plan's primary obligation is to deliver lifetime retirement income, disability benefits, and death benefits to its participants and their beneficiaries. The fund's investment strategy blends traditional public-market exposure with a deliberate tilt toward real assets and private markets. Documented holdings include commitments to timberland vehicles like the Molpus Woodlands Group Timberland Fund and the AmSouth Timber Fund. The portfolio also includes a private credit allocation, expanding the fund's reach beyond standard equity and fixed-income mandates. The geographic focus remains domestic, concentrated in the southeastern United States. The fund participates actively in the Florida Public Pension Trustees Association, a network that provides continuing education and governance training for trustees of local police and fire pension plans. While the precise size of the portfolio is not publicly disclosed, comparable single-city first-responder plans in Florida typically operate in the $200 million to $500 million range. The fund's structural differentiator is its governance model: board-level oversight of direct real-asset allocations by a municipal pension plan without an outsourced chief investment officer arrangement. This architecture requires the trustees themselves—rather than external consultants—to evaluate and monitor timberland, farmland, and private credit fund commitments, an operational burden that shapes both manager selection and portfolio concentration. The absence of a dedicated internal investment staff beyond the plan administrator further concentrates decision-making authority in the board. ## Sectors - Real Estate - Private Credit - Infrastructure - Agriculture ## People - Steve Dougherty — Chairman of the Board of Trustees - James Fisher — Plan Administrator ## Questions ### Who runs investment decisions at the Pembroke Pines pension fund? A board of trustees oversees all investment decisions. Steve Dougherty serves as chairman, and James Fisher is the plan administrator responsible for day-to-day operations. The board evaluates and approves all manager selections and asset allocations directly, without an outsourced chief investment officer. ### What real-asset commitments has the fund made? Public records show the fund has committed to at least three real-asset vehicles: the Molpus Woodlands Group Timberland Fund, the AmSouth Timber Fund, and the Ceres Partners Agricultural Fund. These positions reflect a deliberate strategy to capture timberland and farmland returns as part of the plan's long-duration liability matching. ### Does the fund allocate to private credit? Yes. The fund has a documented private credit allocation alongside its real-asset and public-market holdings. Specific manager names and commitment sizes within the private credit sleeve are not publicly disclosed. ### How is the fund's governance structured? The fund operates under a board-of-trustees governance model. The board includes representatives tied to the City of Pembroke Pines and the Broward County Police Benevolent Association, which serves as the collective bargaining unit for participating police officers. This structure gives labor a voice in the plan's oversight alongside municipal appointees. ### What is the fund's membership in the Florida Public Pension Trustees Association? The fund is a member of the Florida Public Pension Trustees Association (FPPTA), an industry group that provides educational programs and governance resources to trustees of Florida's municipal police and fire pension plans. The fund's trustees regularly attend FPPTA conferences as part of their fiduciary training requirements. ### What type of plan is this, and who is covered? It is a single-employer defined-benefit pension plan covering sworn police officers and firefighters employed by the City of Pembroke Pines, Florida. The plan provides retirement, disability, and death benefits. Both the city and plan members contribute to the fund, which is administered under Florida state statutes governing municipal police and fire pensions. ## Related profiles - [City of Palmetto General Employees' Pension Plan](https://altss.com/profile/city-of-palmetto-general-employees-pension-plan) - [City of Pembroke Pines OPEB Trust](https://altss.com/profile/city-of-pembroke-pines-other-post-employee-trust-fund-opeb) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/city-of-pembroke-pines-firefighters-police-officers-pension-fund Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology