Pompano Beach Police & Firefighters' Retirement System

Investment decisions are governed by a Board of Trustees chaired by Paul D. O'Connell, with Vice-Chairman David Hall. Day-to-day administration is managed by Executive Director Debra Tocarchick. The board operates within the fiduciary framework established by Florida law for municipal pension plans and participates in educational programs through the Florida Public Pension Trustees Association.

The City of Pompano Beach is the primary sponsoring employer. The Broward County Sheriff's Office also contributes for former city police officers who remained in the system. The plan is a single-employer defined benefit structure, meaning benefits are fixed by formula and funded through a combination of city tax revenues and employee contributions.

The system diversifies beyond public equities and fixed income into real estate funds, including commitments to TerraCap Partners VI and Invesco Real Estate Fund, infrastructure exposure via Cohen & Steers Global Infrastructure, a hedge fund-of-funds allocation through Ironwood, and master limited partnerships. This mix reflects a deliberate allocation to private and alternative asset classes despite the plan's sub-$300 million size.

Yes, the system has been notably active in recovering investment losses through shareholder litigation. It served as lead plaintiff in a securities class action against Chegg, Inc., was a plaintiff in a securities fraud lawsuit against FIGS, Inc., and served as a lead plaintiff in stockholder derivative litigation against AmTrust Financial Services. These legal actions represent a material component of the system's overall return strategy.

The system's disclosed alternative holdings suggest a preference for commingled fund structures rather than direct co-investments. Commitments to TerraCap Partners, Invesco Real Estate, and Ironwood's fund of hedge funds indicate the plan accesses private markets through established external managers rather than building an in-house direct investment capability, consistent with its staffing profile as a municipal plan with limited internal investment personnel.

The system actively participates in the Florida Public Pension Trustees Association, a statewide educational and advocacy network for municipal pension trustees. It also maintains membership in the National Conference on Public Employee Retirement Systems and the National Association of State Retirement Administrators, suggesting the board prioritizes trustee education and peer benchmarking across the public pension community.

The plan covers sworn police officers and firefighters employed by the City of Pompano Beach. Former city police officers who were absorbed into the Broward County Sheriff's Office remain covered by this system rather than the county plan. The plan provides retirement, disability, and death benefits to these members.