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 Qualified Pension Plan and Tax-Deferred Annuity Program funds for a three-month period terminating on March 31, 2019.
• Ratified approval of a modification of the Fiscal Year 2019 Budget, by increasing the budget to provide for pay increases for all eligible staff, in accordance with the Mayor’s Personnel Orders 2018/2 and 2018/3 and the DC37 collective bargaining agreement.
• Ratified extension for a one-year period, its agreement to participate in the Common Investment Meeting with the other New York City Retirement Systems.

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

• Approved the adoption of the revised Corporate Governance Principles and Proxy Voting Guidelines for TRS’ QPP and Tax Deferred Annuity Programs.

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

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, 2018.
• 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, 2018.

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, 2018.
• 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, 2018.
• Authorized TRS staff to carry out the internal rebalancing of approximately $75 million in assets from the Qualified Pension Plan to the Passport Funds, in accordance with the Actuary’s analysis.
• 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 2019.
• Adopted changes to policies on interest on death benefits and payments after death.

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

• 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 2019; and that any excess expense fee revenue that may exist at the end of Fiscal Year 2018 shall be rolled into the Variable Fund unit values, on a pro rata basis.
• Authorized the adoption of the proposed Agency budget for Fiscal Year 2019 (excluding Modernization) in the amount of $65,155,255 and the Modernization Program budget in the amount of $38,525,000.

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

• Approved the Actuary's determination for a preliminary Fiscal Year 2019 employer contribution to the Teachers' Retirement System of the City of New York in the amount of $3,768,938,967.
• Approved the Actuary's determination for a final Fiscal Year 2018 employer contribution to the Teachers' Retirement System of the City of New York in the amount of $3,889,709,927.
• Adopted the Divestment and Exclusion Policy for inclusion in the Investment Policy Statements for the Qualified Pension Plan and the Variable Annuity Funds.

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, 2018.
• 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, 2018.
• Authorized submission of a voucher to the State Comptroller, in an amount determined by the Actuary, seeking reimbursement for carrying out the provisions related to Chapter 41 of the Laws of 2016.

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

• Authorized the board to initiate a process to determine a prudent strategy that responsibly reduces our portfolio's exposure to carbon risk in general and specifically to fossil fuel reserve owners' securities, and mitigates financial risks resulting from climate change consistent with our fiduciary duty.

The Teachers' Retirement Board met on January 18, 2018. At this meeting, a quorum was present, and no major actions were taken.