# Clermont Firefighters Retirement Plan and Trust

Clermont Firefighters Retirement Plan and Trust is a Pension Fund based in Palm Beach Gardens, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Palm Beach Gardens, United States
- **Region:** North America
- **Address:** Palm Beach Gardens, FL, United States
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

The Clermont Firefighters Retirement Plan and Trust is a municipal pension fund serving sworn firefighters employed by the City of Clermont, a growing community in Lake County, Florida. Florida statute governs its structure under Chapter 175, which mandates minimum benefit standards and board composition for firefighter pension funds. The plan’s funding comes from a combination of employer contributions, employee payroll deductions, and a mandatory state insurance premium tax rebate distributed to local firefighter pension accounts. The plan constructs a portfolio governed by the Florida Statutes' prudent investor standard, typically allocating across domestic equities, fixed income, and limited real estate or alternative exposures, subject to the statutory investment limitations placed on municipal firefighter trusts. The fund’s public investment policy and actuarial reports, filed annually with the Florida Department of Management Services, define its asset-liability management strategy designed to meet a targeted actuarial rate of return, historically benchmarked against plan-specific liabilities rather than generic indices. Though small in scale, the plan operates with structural protections unique to Florida firefighter pensions — a dedicated excise tax revenue stream (Chapter 175 premium tax) provides annual funding independent of the City’s general operating budget, creating a resilient contribution base even during municipal fiscal stress. The five-member Board of Trustees includes two firefighter-elected members, two city-appointed members, and one jointly selected fifth member, as required by state law. The plan’s key structural differentiator is its statutory funding architecture: unlike general employee pension funds, the Chapter 175 firefighter trust enjoys a constitutionally earmarked share of state insurance premium taxes. This creates a relatively insulated funding source compared to typical municipal pension plans, even as the board must still manage the tension between benefit adequacy and actuarial sustainability within a tightly regulated investment framework.

## Questions

### What is the legal basis for the Clermont Firefighters pension fund?

The fund operates under Chapter 175 of the Florida Statutes, which governs municipal firefighter pension plans. Chapter 175 mandates specific board composition, benefit accrual tiers, and actuarial funding standards, along with a dedicated excise tax contribution from insurance premiums collected statewide. This statutory structure pre-dates many municipal general employee retirement systems and creates a legally distinct separation between firefighter benefits and the City of Clermont's general fund obligations.

### How is the plan funded?

Funding comes from three sources: employer contributions from the City of Clermont, mandatory employee contributions from active firefighters, and a share of the Chapter 175 premium tax collected by the State of Florida on certain property and casualty insurance premiums. The premium tax distribution is constitutionally protected and provides a revenue stream independent of the city's annual budget cycle. The plan's actuarial valuation determines the exact contribution rates required to maintain the fund's targeted amortization period.

### What investment restrictions apply to this firefighter pension fund?

Chapter 175 restricts municipal firefighter trusts to a statutory list of permissible investments, including government obligations, corporate bonds meeting specific rating thresholds, equities, and certain pooled investment vehicles. Real estate and foreign securities are permitted within defined percentage limits. The board must adopt a written investment policy that complies with these statutory restrictions while meeting the actuarial required rate of return. The plan files its investment holdings annually with the Florida Department of Management Services.

## Related profiles

- [Clemson University Foundation](https://altss.com/profile/clemson-university-foundation-cuf)
- [Clermont Police Officers' Retirement Plan and Trust](https://altss.com/profile/clermont-police-officers-retirement-plan-and-trust)

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

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