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Hallandale Beach Police Officers' and Firefighters' Pension
The Hallandale Beach Police Officers' and Firefighters' Pension was established by the City of Hallandale Beach on December 15, 1959, to provide retirement...
Hallandale Beach Police Officers' and Firefighters' Pension
The Hallandale Beach Police Officers' and Firefighters' Pension was established by the City of Hallandale Beach on December 15, 1959, to provide retirement security for the city's sworn public-safety workforce. The City acts as plan sponsor and retains ultimate responsibility for the actuarial soundness of the plan. A Board of Trustees administers the fund, with seats held by at-large trustees, police-department trustees, and fire-department trustees. Chairman Pablo Lima leads the board alongside trustees Radu Dodea, Alan B. Miller, Ricky Buoni, and Caleb Devore. Plan administration services are provided by Foster & Foster. The fund manages approximately $236 million in assets across a diversified institutional portfolio. Public markets — equities and fixed income — form the core, but the plan has layered on private-markets exposure over time. Allocations include pooled private equity funds, a dedicated real estate sleeve held through the Principal U.S. Property Separate Account, and a hedge fund commitment to Ironwood Capital Management in San Francisco. The real estate allocation is concentrated in U.S. mixed-use properties. The fund also maintains a Portfolio Institutional Fund vehicle. The geographic footprint is domestic — all identified holdings and manager relationships are U.S.-based. The Board of Trustees and its members are active in the Florida Public Pension Trustees Association, which provides fiduciary education and networking for Florida's municipal plans. Michelle Rodriguez of Foster & Foster serves as Plan Administrator. Team size is not publicly disclosed, but the governance structure reflects a typical Florida municipal pension board, with trustees drawn from the city's police and fire departments and at-large appointments. The fund's last 24 months of operational activity have not been publicly detailed in a manner that changes investment posture. The plan's structural differentiator is its extreme localism. Unlike large state plans that pool thousands of participants across agencies, Hallandale Beach's fund is purpose-built for one city's police officers and firefighters. That narrow participant base means actuarial assumptions, contribution rates, and investment policy are all calibrated to the demographics of a single municipal public-safety workforce — a governance model that concentrates accountability directly on the city and its appointed board.
General information
Firm type
Pension Fund
Year founded
1959
Location
Region
North America
Country
United States
City
Hallandale Beach
Corporate office
Hallandale Beach, FL, United States
Principals
Pablo Lima
Chairman, Board of Trustees
Pablo Lima
Trustee, At-Large
Radu Dodea
Trustee, At-Large
Alan B. Miller
Trustee, At-Large
Ricky Buoni
Trustee, Police Department
Caleb Devore
Trustee, Fire Department
Michelle Rodriguez
Plan Administrator, Foster & Foster
Sector focus
Frequently asked questions
Who runs investment decisions at the Hallandale Beach Police Officers' and Firefighters' Pension?
The Board of Trustees, chaired by Pablo Lima, holds fiduciary authority over the fund's investment policy and manager selection. The board includes at-large trustees, police-department trustees, and fire-department trustees. Plan administration is delegated to Foster & Foster, with Michelle Rodriguez acting as Plan Administrator. The board is self-advised and uses external managers for individual asset-class mandates.
What is the fund's allocation to private equity and alternatives?
The fund maintains exposure to private equity through pooled funds and to real estate via the Principal U.S. Property Separate Account, which focuses on U.S. mixed-use properties. It also allocates to hedge funds — a disclosed commitment to Ironwood Capital Management in San Francisco is on the books. Public equities and fixed income remain the core of the portfolio, with alternatives functioning as return enhancers within a $236 million pool.
Does this pension fund participate in fund commitments or only direct deals?
Based on available disclosures, the fund accesses private markets primarily through commingled vehicles — pooled private equity funds and separate accounts — rather than direct co-investments or single-asset deals. The real estate exposure is held via the Principal U.S. Property Separate Account, a managed vehicle rather than direct property ownership.
How is the City of Hallandale Beach involved in the pension plan?
The City of Hallandale Beach is the plan sponsor and is ultimately responsible for the actuarial soundness of the pension fund. It appoints the Board of Trustees and sets the legal framework within which the board operates. The city's obligation includes ensuring that contribution rates are adequate to meet the plan's long-term liabilities for police officers and firefighters, per Florida statutes governing municipal pensions.
Is the Hallandale Beach pension part of the Florida Retirement System?
No. The Hallandale Beach Police Officers' and Firefighters' Pension is a locally administered municipal plan, separate from the Florida Retirement System (FRS). It operates under its own board, its own actuarial assumptions, and its own investment policy, covering only Hallandale Beach police officers and firefighters rather than state employees.
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