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University of Miami Pension Plan
The University of Miami Pension Plan operates as a single-employer voluntary retirement program for faculty and staff, anchored by core and matching...
University of Miami Pension Plan
The University of Miami Pension Plan operates as a single-employer voluntary retirement program for faculty and staff, anchored by core and matching contributions within the university's 'Canes Total Rewards package. The plan's architecture relies on 403(b) tax-advantaged vehicles, with Fidelity Investments and TIAA-CREF serving as the primary recordkeeping and investment platforms, a structure common among large private research universities. The underlying Employees' Retirement Plan Trust (ERP) holds the university-directed contributions. Known allocations include a significant position in the TIAA Real Estate Account, a commercial real estate vehicle that provides the pension plan with direct exposure to institutionally managed property assets. The CIO also maintains a professional connection to the Managed Funds Association (MFA), suggesting an allocation to alternative investments, including hedge funds, alongside traditional equity and fixed-income components accessed through the major recordkeepers. The geographic investment footprint is primarily domestic, with the real estate account holding a diversified portfolio of US commercial properties. The plan falls under the purview of President and CEO Joe Echevarria and the Board of Trustees, chaired by Manny Kadre. Beyond the pension plan, Charmel Maynard participates in the University of Miami Citizens Board, a leadership network of business and civic figures supporting the institution. This dual role — campus treasurer and external network participant — reflects the local, relationship-driven nature of a university-based investment office embedded in a major South Florida institution. The plan's structural differentiator is its fully voluntary, 403(b)-centric design, which distinguishes it from the mandatory state pension systems affecting many public universities. As a private institution, the University of Miami retains full fiduciary control over plan design, manager selection, and contribution formulas — a governance posture that gives the investment office a centralized mandate over retirement assets not typically found in multi-employer or state-run peers.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Coral Gables
Corporate office
Coral Gables, FL, United States
Principals
Charmel Maynard
Chief Investment Officer & University Treasurer
Joe Echevarria
President and CEO
Manny Kadre
Chair of the Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions for the University of Miami Pension Plan?
Charmel Maynard serves as the Chief Investment Officer and University Treasurer, directing the pension plan's investment strategy and manager relationships. He reports through the university's administrative structure to President Joe Echevarria, with ultimate fiduciary oversight residing with the Board of Trustees chaired by Manny Kadre. His participation in the Managed Funds Association (MFA) reflects an active engagement with the alternative investment community.
How is the plan structured, and is it a defined-benefit or defined-contribution plan?
The University of Miami Pension Plan operates primarily through 403(b) voluntary retirement accounts — a defined-contribution structure — supplemented by university-funded core and matching contributions for eligible employees. The plan uses Fidelity Investments and TIAA-CREF as recordkeepers, with the underlying Employees' Retirement Plan Trust (ERP) holding the assets. This design places investment discretion with participants while the university's investment office manages the plan's institutional allocations and provider relationships.
Does the plan make direct investments or fund commitments?
The plan allocates to commingled institutional vehicles, including a known position in the TIAA Real Estate Account, a direct real estate fund. The CIO's affiliation with the Managed Funds Association suggests additional allocations to hedge funds and alternative investment strategies through fund commitments, though specific managers and vehicles are not publicly detailed. The 403(b) core menu provides participants with access to traditional mutual fund lineups managed by the recordkeepers.
What types of assets does the pension plan invest in?
Confirmed allocations include commercial real estate through the TIAA Real Estate Account, alongside traditional public equity and fixed-income options accessible through the Fidelity and TIAA platforms. The plan's alternative investment exposure, inferred through the CIO's MFA network participation, likely includes hedge fund strategies. The overall asset mix blends participant-directed defined-contribution options with institutionally managed sleeve allocations.
How does the University of Miami's plan differ from Florida's state pension system?
As a private university, the University of Miami operates its own single-employer voluntary retirement plan independent of the Florida Retirement System (FRS), the state's mandatory defined-benefit program for public employees. This independence allows the Miami plan to customize its provider lineup — Fidelity and TIAA — and contribution formulas without the statutory constraints facing Florida's public universities, giving the investment office sole fiduciary discretion over plan architecture and asset allocation.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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