Fort Lauderdale Police & Fire Retirement System

Fort Lauderdale Police & Fire Retirement System

The Fort Lauderdale Police & Fire Retirement System exists to secure pension benefits for the City of Fort Lauderdale's police officers and firefighters. Governed by a board of trustees chaired by Ken Rudominer, with Derek Joseph as Vice Chairman and Scott Bayne as Secretary, the system operates as a defined-benefit plan under Florida statute. Executive Director Lynn Wenguer manages day-to-day administration. The plan serves a closed group of municipal employees whose retirement security depends on the fund's long-term investment performance. The system's investment portfolio spans public equities, fixed income, and a meaningful allocation to private markets. Real estate commitments appear prominently in its holdings, including positions in the AEW Core Property Trust, the Invesco Core Real Estate-USA fund, and the Boyd Watterson GSA Fund, which concentrates on government-leased commercial properties. Its private credit exposure includes the Bloomfield Capital Income Fund V, while a venture capital allocation has been tagged across multiple generalist strategies. Geographic exposure concentrates in the United States, with a South Florida bias visible in the Affiliated Housing Impact Fund II, a mixed-use investment vehicle targeting the region. The fund participates in several national and state-level industry groups, including the Florida Public Pension Trustees Association, the National Conference on Public Employee Retirement Systems, and the Public Pension Coordinating Council, where it has received the Public Pension Standards Award. These memberships reflect standard governance and educational practices for a municipal plan of its size. The system has not publicly disclosed its total assets under management or aggregate deployment figures, consistent with many mid-sized municipal plans that report detailed financials only through annual comprehensive financial reports filed with the state. The system's structural differentiator is its narrow, statutory beneficiary pool — exclusively Fort Lauderdale police officers and firefighters — which creates a liability profile distinct from general employee retirement systems. The board's composition, which includes uniformed personnel alongside other trustees, embeds beneficiary interests directly into the investment governance process. This configuration often produces a conservative asset-liability matching posture, with an emphasis on steady income generation to meet near-term benefit obligations alongside longer-duration growth assets.