Retirement Plan For Employees Of Highland Hospital Of Rochester, NY

Retirement Plan For Employees Of Highland Hospital Of Rochester, NY

Established in 1968, the Retirement Plan For Employees Of Highland Hospital Of Rochester, NY provides defined-benefit coverage to staff at the 261-bed community teaching hospital and related URMC entities. Highland Hospital itself operates as a clinical affiliate within the University of Rochester Medical Center network, and the pension plan's assets are managed under the same investment governance umbrella as the University of Rochester's broader endowment and long-term pools. The plan's administrator is CFO Adam Anolik, while investment decisions flow through the University's central investment office. Several affiliated foundations, including the Highland Hospital Foundation and Eastman Dental Center Foundation, sit adjacent to this structure. The plan participates in the University of Rochester's long-term investment pool (LTIP), which provides access to a diversified endowment-style portfolio across private equity, venture capital, absolute return, real assets, and fixed income. Within that mandate, the pension plan carries a known allocation to distressed debt and special situations strategies, as tracked by Altss research. The LTIP, through the University's CIO office, invests in a mix of direct co-investments, commingled funds, and separately managed accounts, though specific manager names attributable solely to the Highland Hospital plan are not publicly broken out in detail. Doug Phillips, the University's Senior Vice President and Chief Investment Officer, leads the office responsible for the plan's asset allocation and manager selection. Phillips holds seats on the John Templeton Foundation Investment Committee and has served as Vice Chair of the Rotary International Investment Committee, signaling a network tethered to institutional endowment and foundation circles. The University of Rochester has announced a succession plan with Geoff Berg stepping into the CIO role effective 2025, a transition that will directly influence the governance over this pension pool. The plan's defining structural feature is its lack of structural independence: it is an employee benefit plan of a hospital that is itself part of a larger university system, meaning the pension's investment outcomes, risk posture, and liquidity management are functions of the parent institution's central balance-sheet strength. This architecture contrasts with the standalone hospital pension plans that operate their own boards and independent investment staff. Unlike a freestanding corporate pension, the Highland Hospital plan's fortunes rise and fall with the University of Rochester's overall financial health and its endowment's performance track record.