# City of Sebastian Police Officers' Retirement System

City of Sebastian Police Officers' Retirement System is a Pension Fund based in Sebastian, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Sebastian, United States
- **Region:** North America
- **Address:** Sebastian, FL, United States
- **Founded:** 1924
- **Assets under management:** Undisclosed
- **Website:** www.cityofsebastian.org
- **LinkedIn:** https://www.linkedin.com/company/cityofsebastian

## Regulatory record

- **Reports private funds:** No

## About

Created as part of the municipal framework for Sebastian, Florida, the plan operates to provide lifetime retirement benefits exclusively for the city's police officers, funded by employer contributions and investment earnings. The board includes both elected and city-appointed trustees, with Kenneth Killgore serving as Plan Administrator through his role as the city's Administrative Services Director. The pension trust allocates predominantly across traditional fixed-income instruments. Holdings span U.S. Treasury bonds and bills, federal agency guaranteed securities, corporate bonds, and municipal obligations. The system also maintains exposure to commercial real estate through a pooled real estate investment fund. Public records do not detail specific portfolio holdings, and there is no indication of commitments to private equity or venture capital. Governance is shared among a board of trustees that has included Jason Gillette and Rich Snell as long-tenured members since 2017. The board participates in trustee education via the Florida Public Pension Trustees Association, reflecting a posture of continual professional development despite a relatively small asset base. The plan constituted one of several municipal employee benefit systems in Indian River County. This entity is structurally a closed-end municipal fund — its mandate is purely to provide what a single city's police department owes its retirees. Unlike corporate or multi-employer plans, there is no competitive marketing footprint, no diversification imperative beyond the city's statutory list, and no asset-gathering mechanism beyond annual city budget contributions.

## Sectors

- Real Estate
- Public Equities
- Fixed Income

## People

- Kenneth Killgore — Plan Administrator
- Jason Gillette — Trustee
- Rich Snell — Trustee

## Questions

### Who runs investment decisions for the City of Sebastian Police Officers' Retirement System?

A board of trustees governs the plan, including elected officer-trustees and city-appointed members. Kenneth Killgore, the City of Sebastian's Administrative Services Director, acts as Plan Administrator handling day-to-day management. The trustees are not full-time investment professionals but municipal officials and police department representatives fulfilling fiduciary duties.

### Is the City of Sebastian Police Officers' Retirement System a single entity or part of a larger pool?

This plan exists as a standalone single-employer defined-benefit trust covering only sworn police officers employed by the City of Sebastian. It operates independently of the Florida Retirement System and other municipal plans in Indian River County.

### Does the retirement system participate in private investments or co-investments?

There is no public evidence that the plan invests in private equity, venture capital, hedge funds, or direct co-investments. Its known asset holdings are limited to public fixed income and a commercial real estate pooled fund, placing it squarely within the 'income-first' conservative municipal pension category.

### How does the board maintain governance standards given the plan's small size?

The board maintains an active membership with the Florida Public Pension Trustees Association (FPPTA), participating regularly in educational programs designed for public pension fiduciaries. This ensures trustees stay current on governance, legal updates, and fiduciary best practices relevant to Florida municipal pensions.

## Related profiles

- [City of Sarasota General Employees' Defined Benefit Pension Plan](https://altss.com/profile/city-of-sarasota-general-employees-defined-benefit-pension-plan)
- [City of Sioux Falls Pension and Health Care Trust Funds](https://altss.com/profile/city-of-sioux-falls-pension-and-health-care-trust-funds)

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Last updated: 2026-06-03T20:00:00.000Z

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