TRS Logo
Meeting Summaries

Below are summaries of the major actions taken by the Teachers' Retirement Board. A full transcript of each meeting's public session is provided in the Minutes.

2017 Meeting Summaries

October 2017

Board Meeting: October 19

At this meeting, a quorum was present, and no major actions were taken.

Investment Meeting: October 5 

September 2017

Board Meeting: September 28

At this meeting, a quorum was present, and the Board took the following actions:

  • Authorized the Comptroller of the City of New York to invest certain portions of the Contingent Reserve Fund, the Pension Reserve Fund, the Annuity Savings Fund, and the Annuity Reserve Fund for a three-month period, terminating on December 31, 2017.
  • Authorized the Comptroller of the City of New York to invest the net contributions derived from the Fixed portion of the Tax-Deferred Annuity Program for a three-month period terminating on December 31, 2017.
Investment Meeting: September 7 

June 2017

Board Meeting: June 15

At this meeting, a quorum was present, and the Board took the following actions:

  • Authorized the Comptroller of the City of New York to invest certain portions of the Contingent Reserve Fund, the Pension Reserve Fund, the Annuity Savings Fund, and the Annuity Reserve Fund for a three-month period, terminating on September 30, 2017.
  • Authorized the Comptroller of the City of New York to invest the net contributions derived from the Fixed portion of the Tax-Deferred Annuity Program for a three-month period, terminating on September 30, 2017.
  • Adopted the Actuary's recommendation for the Tiers III, IV, and VI loan insurance premium rate to be continued at 0.20% of the outstanding loan balances for any loan originating during Fiscal Year 2018.
Investment Meeting: June 5

May 2017

Board Meeting: May 18

At this meeting, a quorum was present, and the Board took the following actions:

  • Authorized the Teachers' Retirement System of the City of New York to execute the internal rebalancing of approximately $15.6 million in assets from the Passport Funds to the Qualified Pension Plan.
  • Accepted the recommendation of TRS staff that the administrative expense charge for assets in the Variable Annuity Funds shall continue at eighteen basis points through Fiscal Year 2018; and that any excess expense fee revenue that may exist at the end of Fiscal Year 2017 shall be rolled into the Variable Fund unit values, on a pro rata basis.
  • Authorized the adoption of the proposed Agency budget (excluding Modernization) in the amount of $63,683,771 and the Modernization Program budget in the amount of $38,525,000 for Fiscal Year 2018.
Investment Meeting: May 4

April 2017

Board Meeting: April 20

At this meeting, a quorum was present, and the Board took the following action:

  • Approved the Actuary's recommendation for a final Fiscal Year 2017 employer contribution to the Teachers' Retirement System of the City of New York in the amount of $3,888,399,470.
Investment Meeting: April 6

March 2017

Board Meeting: March 16

At this meeting, a quorum was present, and the Board took the following actions:

  • Authorized the Comptroller of the City of New York to invest certain portions of the Contingent Reserve Fund, the Pension Reserve Fund, the Annuity Savings Fund, and the Annuity Reserve Fund for a three-month period, terminating on June 30, 2017.
  • Authorized the Comptroller of the City of New York to invest the net contributions derived from the Fixed portion of the Tax-Deferred Annuity Program for a three-month period terminating on June 30, 2017.
  • Approved the Actuary's recommendation for a preliminary Fiscal Year 2018 employer contributions to the Teachers' Retirement System of the City of New York in the amount of $3,850,783,556.
  • Approved the Actuary's Fiscal Year 2016 reimbursement calculation resulting from Chapter 41 of the Laws of 2016 in the amount of $365,661.
Investment Meeting: March 2

February 2017

Board Meeting: February 16

At this meeting, a quorum was present, and no major actions were taken.

Investment Meeting: February 2

January 2017

Board Meeting: January 26

At this meeting, a quorum was present, and the Board took the following action:

  • Authorized the Actuary to utilize the June 30, 2016 New York City Retirement Systems pension census data to determine the postemployment benefit obligations for the City of New York and certain component units of the City.
Investment Meeting: January 5