# City of South Miami Pension Plan City of South Miami Pension Plan is a Pension Fund based in South Miami, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** South Miami, United States - **Region:** North America - **Address:** South Miami, FL, United States - **Founded:** 1965 - **Assets under management:** Undisclosed - **Website:** southmiamifl.gov - **LinkedIn:** https://www.linkedin.com/company/city-of-south-miami-florida ## Regulatory record - **Reports private funds:** No ## About The City of South Miami Pension Plan was established in 1965 as a defined benefit pension trust for general employees of the City of South Miami, Florida. The plan operates under a Pension Board governed by city ordinance, with membership that includes City CFO Alfredo Riverol, CPA, alongside other appointed officials. Unlike larger state-level peers, this plan's structure ties its governance directly to municipal leadership, with operational oversight embedded within the city's own finance function. Asset allocation leans conservative. The plan holds interests in a mixed-use real estate limited partnership and maintains positions in money market funds, according to public disclosures. No private equity, venture capital, or hedge fund commitments appear in available records. There is no evidence of direct co-investments, fund-of-funds structures, or club deals. The Pension Board comprises seven named members, all drawn from city governance and local appointments. Alfredo Riverol serves as the board's financial lead in his capacity as City CFO. The plan has not disclosed total assets under management, a common posture among municipal plans of this size. The fund's administrative footprint is confined to South Miami, with no additional investment offices or affiliated vehicles like philanthropic foundations or operating businesses. The plan's structural differentiator is its embedded governance model — investment decisions are not outsourced to an external consultant or OCIO but rest with a board of city insiders. This creates a direct line of accountability to municipal stakeholders but also concentrates fiduciary responsibility within a small group without dedicated investment staff. For a fund of this scale, the model reflects a trade-off between local control and institutional investment infrastructure. ## Sectors - Real Estate - Money Market Funds ## People - Alfredo Riverol — City CFO, Pension Board Member - Bradley Cassel — Pension Board Member - Randolph X. Brown — Pension Board Member - Jose Fernandez — Pension Board Member - Jose Lopez — Pension Board Member - Justin Puente — Pension Board Member - Andrew Velo-Arias — Pension Board Member ## Questions ### What is the governance structure of the City of South Miami Pension Plan? The plan is governed by a seven-member Pension Board established by city ordinance. Membership includes the City CFO, Alfredo Riverol, CPA, alongside other appointed officials. The board is responsible for investment oversight and plan administration, operating without a delegated OCIO or external investment committee. ### Which asset classes does the plan invest in? Publicly visible holdings include a mixed-use real estate limited partnership and money market funds. No allocations to private equity, venture capital, or hedge funds appear in available records. The portfolio reflects a conservative, income-oriented approach characteristic of small municipal defined benefit plans. ### Has the plan disclosed its total assets under management? No. The City of South Miami Pension Plan has not publicly disclosed its total AUM. This is not unusual for municipal plans of this scale, which often report financials only through annual comprehensive financial reports or city budget documents rather than on a standalone website. ### Who makes the investment decisions? Investment decisions are made by the Pension Board, whose seven members are appointed under city ordinance. The board does not appear to employ a dedicated investment staff or retained an outsourced chief investment officer, meaning allocation and manager selection rest with the trustees directly. ## Related profiles - [City of South Bend 1937 Firefighters' Pension Plan](https://altss.com/profile/city-of-south-bend-1937-firefighters-pension-plan) - [City of Southfield Employee Retirement System](https://altss.com/profile/city-of-southfield-employee-retirement-system) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/city-of-south-miami-pension-plan Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology