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Meeting Summaries

Below are summaries of the major actions taken by the Teachers' Retirement Board at its scheduled Board Meetings. Also provided below are full transcripts of the public sessions of Board Meetings and TRS Investment Meetings (held by the Board's Finance Committee). Other investment actions taken by the Board are also published after they take effect.

2020 Meeting Summaries

November 2020

Board Meeting: November 19

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

  • Approved a resolution reducing TRS' administrative budget for Fiscal Year 2021 in an amount comparable to the savings that would have been achieved at TRS by implementing Mayor's Personnel Order No. 2020/2.
  • Adopted the Retention and Disposition Schedule for New York Local Government Records (LGS-1).
  • Approved amendments to the rules and regulations of the Board of Education Retirement System concerning the nominating petition requirements for the office of employee-member of the retirement board.
Investment Meeting: November 5

At this meeting, a quorum was present and no matters were formally voted upon.

October 2020

Board Meeting: October 15

At this meeting, a quorum was present and no matters were formally voted upon.

Investment Meeting: October 1

At this meeting, a quorum was present and no matters were formally voted upon.

September 2020

Board Meeting: September 17

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

  • Approved a resolution authorizing the Comptroller to invest certain Qualified Pension Plan funds.
  • Approved a resolution authorizing the Comptroller to invest certain Tax-Deferred Annuity Program funds.
Investment Meeting: September 3

At this meeting, a quorum was present and no matters were formally voted upon.

July 2020

Common Investment Meeting: July 15

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

  • Adopted a resolution defining the term "dependent parent" for the purpose of eligibility for accidental death benefits.

June 2020

Board Meeting: June 18

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

  • Approved a resolution authorizing the Comptroller to invest certain Qualified Pension Plan funds.
  • Approved a resolution authorizing the Comptroller to invest certain Tax-Deferred Annuity Program funds.
  • Approved a resolution authorizing the continuation through Fiscal Year 2021 of the Variable Funds' 18 basis point expense fee and the return of any remaining fee revenue to the Variable Funds at the Fiscal Year End.
Investment Meeting: June 4

At this meeting, a quorum was present and the Board took the following action by unanimous consent.

  • Approved a resolution adopting the Gulino Implementation Budget for Fiscal Year 2021.

May 2020

Board Meeting: May 21

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

  • Approved a resolution adopting the Administrative and Modernization Program Budgets for Fiscal Year 2021.
  • Approved a resolution adopting the Actuary’s recommended Tier III, IV, and VI loan insurance premium rate of 0.1% of loan balances per annum for loans originating during Fiscal Year 2021.
  • Approved a resolution to implement the Actuary’s internal fund rebalancing recommendation.
Investment Meeting: May 7

At this meeting, a quorum was present and no matters were formally voted upon.

April 2020

Board Meeting: April 20

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

  • Approved a resolution adopting the Actuary's determination of the Final Fiscal Year 2020 Employer Contribution to the Teachers' Retirement System.
  • Adopted a revised Securities Litigation Protocol.
Investment Meeting: April 2

At this meeting, a quorum was present and no matters were formally voted upon.

March 2020

Board Meeting: March 19

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

  • Approved the Actuary's preliminary calculation of the Fiscal Year 2021 employer contribution to TRS.
  • Approved the Actuary's calculation of the Fiscal Year 2019 Reimbursement resulting from Chapter 41 of the Laws of 2016.
  • Approved a modification to the Fiscal Year 2020 budget to accommodate contractual increases due to employees represented by the Communications Workers of America.
  • Approved a resolution authorizing the Comptroller of the City of New York to invest certain Qualified Pension Plan funds.
  • Approved a resolution authorizing the Comptroller of the City of New York to invest certain Tax-Deferred Annuity Program funds.
Investment Meeting: March 5

At this meeting, a quorum was present and no matters were formally voted upon.

February 2020

Board Meeting: February 27

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

  • Adopted a revised Asset Allocation Policy.
Investment Meeting: February 6

January 2020

Board Meeting: January 30

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

  • Approved a resolution adopting a modification to the Fiscal Year 2020 Budget to cover expenses associated with the Local 1180 Class Action Settlement.
Investment Meeting: January 6