City of Port Orange General Employees' Pension Fund

City of Port Orange General Employees' Pension Fund

The City of Port Orange General Employees' Pension Fund provides retirement security for the municipal workforce of Port Orange, Florida, a coastal city south of Daytona Beach. The system operates a traditional defined-benefit pension alongside a 401(a) plan with Mission Square Retirement and a 457 deferred compensation plan, giving city employees multiple retirement savings tracks. Governance rests with a Board of Trustees composed of elected employee members, appointed citizen members, and the city's Finance Director serving as ex-officio treasurer. The portfolio's known public-facing commitment is a position in the UBS Trumbull Property Fund, a core US diversified real estate vehicle. This allocation signals a preference for institutional-quality, income-generating property exposure rather than opportunistic or development-heavy strategies. The fund participates in the Florida local government retirement systems network through the Florida Department of Management Services, Division of Retirement, aligning it with the state's regulatory and actuarial framework for municipal plans. Geographic concentration is domestic, with no disclosed international mandates. Board composition includes two elected employee trustees, Jason Chockley and Roland Berrios, alongside three appointed citizen members: Van Szeto, Tena Granit, and Michael Nadeau. Former Retirement Committee Chairman Peter Fereira brings institutional memory to the governance structure. The fund's size is not publicly reported, but as a single-city municipal plan for a population of roughly 65,000, it operates at the smaller end of the Florida public pension landscape — a cohort that collectively faces pressure from actuarial funding gaps and increasing scrutiny of alternative-asset allocations. Structurally, the fund differs from larger Florida peers like the FRS or the Jacksonville pension systems by maintaining a simpler, consultant-advised model rather than building an internal investment staff. Its blended structure — pairing a traditional DB plan with defined-contribution options — reflects the municipal trend toward risk-sharing with employees while preserving a legacy pension promise for career workers. The board's composition, requiring both employee and citizen representation, adds a governance layer less common in single-employer corporate plans.