Jackson Health System Pension Fund

Jackson Health System Pension Fund

Jackson Health System established the Public Health Trust (PHT) Defined Benefit Retirement Plan in 1996 for employees hired after January 1 of that year, while earlier hires remained in the Florida Retirement System. The PHT plan is a department of Miami-Dade County, and its pension committee operates under the governance of the Public Health Trust board, with CEO Carlos Migoya providing executive oversight. The pension fund allocates to real estate equity through vehicles like Morgan Stanley Prime Property Fund, commercial real estate debt through Rialto Real Estate Fund IV and Torchlight Debt Fund VII, and global infrastructure via the JP Morgan Infrastructure Investment Fund. These commitments suggest a strategy tilted toward income-producing tangible assets, typical for a liability-aware public plan managing long-dated benefit obligations. The geographic reach extends from US-focused real estate funds to global infrastructure. Peter L. Bermont chairs the Pension Plan Subcommittee, which oversees investment policy and fund selection. The fund's full investment team size and total assets are not publicly disclosed, a common posture for sub-sovereign plans outside the largest US public systems. Jackson Health System's academic affiliation with the University of Miami Miller School of Medicine creates an ecosystem where the pension plan supports retirement security for clinical and operational staff across Florida's largest public hospital. The fund's structure as a department inside a county-controlled healthcare trust — rather than a standalone investment office — shapes its governance. Investment decisions ultimately route through Miami-Dade County procurement and fiduciary processes, creating a layer of public accountability uncommon in corporate pension plans. The Jackson Health Foundation operates as a separate philanthropic arm, distinct from pension assets.