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Lantana Firefighters' Pension Fund
The Lantana Firefighters' Pension Fund operates as a defined-benefit plan for the firefighters of Lantana, Florida, established under Section 14-103 of the...
Lantana Firefighters' Pension Fund
The Lantana Firefighters' Pension Fund operates as a defined-benefit plan for the firefighters of Lantana, Florida, established under Section 14-103 of the Town's Code of Ordinances. The fund's governance rests with a five-member Board of Trustees serving staggered four-year terms. Two trustees are elected by the active firefighters, while the remaining three are appointed by the Lantana Town Council. This hybrid board structure is common among Florida municipal pension plans, distributing oversight between plan participants and the town's legislative body. The fund's known investment posture spans at least two asset classes. It holds a position in a private real estate fund managed by Intercontinental Real Estate Corporation, a Boston-based investment manager with a multi-decade track record in core, value-add, and opportunistic US real estate. The fund's allocation to IREC suggests a preference for institutional-quality commercial real estate exposure. Separately, the fund maintains a cash and equivalents sleeve, likely for liquidity management to meet near-term benefit obligations and capital calls. The portfolio's full composition — including any allocations to public equities or fixed income — is not publicly detailed. As an active member of the Florida Public Pension Trustees Association, the fund sends its trustees to FPPTA educational programs, signaling a commitment to board-level training and compliance with state fiduciary standards. There is no public record of the fund's total assets under management or its actuarial funded status. The absence of a publicly available Comprehensive Annual Financial Report makes it difficult to assess the plan's size, liability structure, or contribution schedule. Florida's municipal firefighter pension plans are governed by Chapter 175 of the Florida Statutes, which sets minimum benefit levels, actuarial reporting standards, and state revenue-sharing mechanisms. The Lantana fund's structural differentiator is its embedded town-council oversight — every major decision, from benefit formula changes to trustee appointments, runs through a small municipality's elected government, making the plan's investment posture unusually sensitive to local politics and property-tax dynamics.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Lantana
Corporate office
Lantana, FL, United States
Principals
Mike Bergeron
Chairman, Board of Trustees
Michael McCurdy
Vice-Chairman, Board of Trustees
Alfred Angelo
Secretary, Board of Trustees
Justin Schainuck
Trustee
Timothy Daley
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at the Lantana Firefighters' Pension Fund?
The Board of Trustees holds full fiduciary authority over the fund's investments. The board consists of five members: two elected by active firefighters and three appointed by the Lantana Town Council. Trustees serve four-year terms. Mike Bergeron chairs the board, with Michael McCurdy as vice-chairman and Alfred Angelo as secretary. This structure ensures decisions are made by a mix of plan participants and town-appointed representatives, per the fund's governing ordinance.
How is the fund's board structured, and what oversight does the town have?
The board has five trustees — three appointed by the Lantana Town Council and two elected by active firefighters. All serve four-year terms. The Town Council holds budgeting authority over the municipality's annual contribution to the plan. This governance model blends direct participant representation with municipal oversight, meaning strategic shifts in funding policy or plan design ultimately require council-level engagement.
What investment strategies does the fund pursue?
The fund holds a known position in a private real estate fund managed by Intercontinental Real Estate Corporation, indicating a commitment to institutional-grade US real estate. It also maintains a cash and equivalents allocation for liquidity. The full asset mix — including any public equity or fixed-income exposure — is not publicly disclosed. The plan's investment strategy appears to mix illiquid real estate exposure with liquid reserves.
Does the Lantana Firefighters' Pension Fund disclose its total assets?
No. The fund does not publicly disclose its total assets under management. No recent Comprehensive Annual Financial Report or actuarial valuation is readily available through public records. This opacity is typical for smaller municipal plans whose financial disclosures are not widely aggregated. The AUM band remains unverifiable without direct documentation from the plan administrator or town government.
Is the fund subject to Florida state pension regulations?
Yes. As a municipal firefighter pension plan in Florida, the fund is governed by Chapter 175 of the Florida Statutes. Chapter 175 establishes minimum benefit standards, mandates actuarial reporting, and provides a state insurance premium tax revenue stream that partially funds municipal firefighter plans. The fund's adherence to Chapter 175 shapes its contribution structure and investment governance requirements.
What professional organizations does the fund participate in?
The fund is an active member of the Florida Public Pension Trustees Association, a Tallahassee-based organization that provides trustee education, legislative advocacy, and professional networking for Florida's public pension boards. Participation in FPPTA signals that the board invests in ongoing fiduciary training and stays informed on state-level pension governance developments.
Does the plan have any affiliated operating foundations or co-investment vehicles?
There is no public evidence of separate philanthropic foundations, affiliated co-investment vehicles, or alternative asset arms linked to the plan. The fund appears to operate solely as a single-employer defined-benefit pension trust for Lantana's firefighters, without adjacent family-office or foundation structures.
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