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Miramar Firefighters Retirement Plan
The Miramar Firefighters Retirement Plan operates as a defined-benefit pension fund for the firefighters of Miramar, Florida, established under the City Code...
Miramar Firefighters Retirement Plan
The Miramar Firefighters Retirement Plan operates as a defined-benefit pension fund for the firefighters of Miramar, Florida, established under the City Code Article III. The plan is governed by a Board of Trustees, which includes Chairman Leo Nunez and Trustee James Estep. Both trustees co-founded Everest Financial Advisors, a firm focused on financial planning for first responders, creating an unusual overlap between plan governance and the advisory business serving its participants. The plan's investment strategy departs from the traditional municipal pension playbook. While many similarly sized local plans concentrate heavily on public equities and core fixed income, Miramar Firefighters has allocated to private credit funds and timberland investments. The specific funds, vintage years, and commitment sizes are not publicly disclosed. The geographic mandate appears domestic, with timberland holdings likely concentrated in the southeastern United States, though exact locations are not confirmed. The plan does not publicly name its external managers or disclose its full asset allocation. The existence of Everest Financial Advisors — co-founded by Nunez and Estep — introduces a structural layer into the pension's operating model. The advisory firm serves individual first responders, while the two co-founders simultaneously hold fiduciary roles over the pooled retirement assets. The plan's official address and operations are based in Miramar, Florida, with no additional offices or dedicated investment staff publicly listed. No recent changes to the plan's investment policy or trustee composition have been publicly reported in the last 24 months. The structural differentiator lies in the dual role of its trustees. Leo Nunez and James Estep are not merely plan fiduciaries; they also operate the financial advisory firm that serves the same constituency of firefighters whose retirement assets they oversee as a board. This vertical integration — pension governance and individual financial planning under affiliated leadership — shapes every investment decision made by the plan. It also concentrates responsibility for both the collective and individual retirement outcomes of Miramar's firefighters within a small, interlocking group.
General information
Firm type
Pension Fund
Year founded
1981
Location
Region
North America
Country
United States
City
Miramar
Corporate office
Miramar, FL, United States
Principals
Leo Nunez
Chairman of the Board of Trustees
James Estep
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at Miramar Firefighters Retirement Plan?
The Board of Trustees governs the plan. Leo Nunez serves as Chairman and James Estep as a Trustee. Both are co-founders of Everest Financial Advisors, a firm providing financial planning to first responders. The plan does not publicly identify a dedicated Chief Investment Officer or external investment consultant.
What alternative asset classes does the plan invest in?
The plan has confirmed investments in timberland and private credit funds. These allocations suggest a strategy that seeks yield and inflation protection beyond the traditional municipal pension mix of public equities and core bonds. The specific funds, commitment sizes, and performance data are not publicly available.
How is Everest Financial Advisors related to the pension plan?
Everest Financial Advisors was co-founded by Leo Nunez and James Estep, who simultaneously serve as trustees of the Miramar Firefighters Retirement Plan. Everest provides financial planning services to individual first responders, creating a direct link between the advisory firm's leadership and the pension's governance.
Does the plan participate in fund commitments or only direct deals?
The plan's private credit and timberland exposure is likely accessed through commingled fund commitments rather than direct co-investments, given the plan's small municipal footprint and lack of a dedicated internal investment team. However, the fund-level details are not publicly disclosed.
How is the plan governed and what is its legal framework?
The plan operates under the City of Miramar Code Article III, Sections 15 through 76. The City of Miramar serves as the sponsoring employer. The Board of Trustees holds fiduciary authority over plan assets and administration.
Does the plan disclose its total assets or performance publicly?
No. The plan does not publish an AUM figure, annual report, or performance data on its website. For a municipal pension of this size and type, such disclosures would typically appear in city annual financial reports, but no recent figure has been publicly surfaced.
What is the geographic focus of the plan's timberland investments?
While the plan has not publicly identified the specific properties or managers, institutional timberland portfolios for municipal plans of this size typically concentrate in the southeastern United States — particularly Florida, Georgia, and Alabama — where pine plantations offer predictable harvest cycles and proximity to the plan's home market.
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