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 March 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 March 31, 2017.

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

• Extended the Board's participation in the Common Investment Meeting for a one-year period.

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

• Extended the Board's participation in the Common Investment Meeting (CIM) for a one-month period, to complete review and discussion of operational and governance enhancements relating to the CIM and to facilitate an enactment schedule consistent with the other Boards.

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, 2016.
• 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, 2016.
• Ratified reappointment of Dr. Alan David to a three-year term on the Medical Board, which expires on July 31, 2019.

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

• Adopted a new asset allocation policy that includes a 67% allocation to equity and a 33% allocation to fixed income.
• Adopted a new disability retirement effective date for Tier IV and VI members to be the later of the date the application for disability retirement is filed with TRS, or the day after the last day the member was paid on the employer's payroll. Members may also select an effective retirement date within 30 days of the Medical Boards' approval, provided the date is after the application date and the member's last day on payroll. This new policy shall apply to all Tier IV and VI disability retirement applications filed after the date this resolution was approved by the Board.
• Agreed to retain the following investment managers for the Diversified Equity Fund, Bond Fund, and the International Equity Fund for a three-year period, expiring on June 30, 2019:
  • Advent Capital
  • AJO
  • Analytic Investors
  • Clearbridge
  • Jackson Square Partners (Delaware)
  • MFS
  • NISA
  • Pyramis
  • Walter Scott
  • Wasatch
• Agreed to renew its master custodial agreement with J.P. Morgan Chase for the variable-return Passport Funds for an additional three-year period, expiring on June 30, 2019.
• 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, 2016.
• 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, 2016.
• Approved additional expenditures consistent with the parameters set forth in the budget plan presented by the Comptroller.

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

• Adopted the recommendation of the Actuary to continue the current loan insurance premium rate of 0.20% per annum on QPP loans for Tier III, IV, and VI members.

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

• Approved the adoption of the revised Corporate Governance Principles and Proxy Voting Guidelines for TRS’ QPP and Tax Deferred Annuity Programs.
• Adopted the changes to the Investment Policy Statements relating to the Proxy Voting for non-U.S Companies.
• Authorized the adoption of the proposed Agency budget in the amount of $100,882,210 for Fiscal Year 2017, which includes $40,125,000 for the Modernization Program.
• Approved the Actuary's recommendation for a final Fiscal Year 2016 employer contribution to the Teachers' Retirement System of the City of New York in the amount of $3,702,569,102.

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

• Approved the Actuary's recommendation for a preliminary Fiscal Year 2017 employer contributions to the Teachers' Retirement System of the City of New York in the amount of $3,888,399,470.
• 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, 2016.
• 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, 2016.

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

• Authorized the Actuary to utilize the June 30, 2015 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 for Fiscal Year 2016.

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

• Adopted the Actuary's recommendation to update the preliminary estimate of the Fiscal Year 2016 Employer Contribution to the System from $3,407,272,380 to $3,702,569,102.