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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.

2021 Meeting Summaries

September 2021

Board Meeting: September 20

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 extending participation in the Common Investment Meeting with other New York City Retirement Systems through December 2021.
  • Adopted the Actuary's recommended changes to the actuarial assumptions and methods.
  • Approved the Actuary's calculation of the Final Fiscal Year 2021 Employer Contribution to TRS.
  • Approved the Actuary's preliminary calculation of the Fiscal Year 2022 Employer Contribution to TRS.
  • Directed the development of rules and standards concerning services provided by the Actuary to TRS.
Investment Meeting: September 13

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

June 2021

Board Meeting: June 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.
  • Approved a resolution extending participation in the Common Investment Meeting with other New York City Retirement Systems.
  • Approved a resolution authorizing the continuation through Fiscal Year 2022 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 3

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

May 2021

Board Meeting: May 20

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 2022.
  • Approved a resolution adopting the Actuary’s recommended retention of the Tier III, IV, and VI loan insurance premium rate of 0.1% of loan balances per annum for loans originating during Fiscal Year 2022.
  • Approved a resolution to implement the Actuary’s internal fund rebalancing recommendation.
  • Approved the Actuary's calculation of the Fiscal Year 2020 Reimbursement resulting from Chapter 41 of the Laws of 2016.
  • Adopted a Variable Program Emerging Market Review Policy.
  • Approved an amendment to the Rules and Regulations of the Board of Education Retirement System (BERS) concerning the appointment, in the event of a vacancy, of a temporary employee-member of the BERS Board of Trustees.

The Board also considered but did not adopt the following resolutions:

  • A resolution to adopt, contingent on legislative approval of a proposed assumed rate of return, the Final Fiscal Year 2021 Employer Contribution to the Teachers' Retirement System prepared by the Actuary.
  • A resolution to adopt the Final Fiscal Year 2021 Employer Contribution to the Teachers' Retirement System prepared by the Actuary.
  • A resolution to adopt, contingent on legislative approval of a proposed assumed rate of return, the Preliminary Fiscal Year 2022 Employer Contribution to the Teachers' Retirement System prepared by the Actuary.
  • A resolution to adopt the Preliminary Fiscal Year 2022 Employer Contribution to the Teachers' Retirement System prepared by the Actuary.
Investment Meeting: May 6

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

April 2021

Board Meeting: April 15

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

  • Adopted a revised Qualified Pension Plan Investment Policy Statement Appendix 5.
  • Adopted a revised Variable Annuity Program Investment Policy Statement.
Investment Meeting: April 5

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

March 2021

Board Meeting: March 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 extending participation in the Common Investment Meeting with other New York City Retirement Systems.
  • Supported legislation to suspend the creation of new Tax-Deferred Annuity Beneficiary Accounts for the beneficiaries of members who die on or after July 1, 2021.
Investment Meeting: March 4

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

February 2021

Board Meeting: February 25

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

  • Adopted revised Qualified Pension Plan Investment Policy Statement Appendixes 4 and 12.
Investment Meeting: February 4

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

January 2021

Board Meeting: January 21

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

Investment Meeting: January 7

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