Passport Funds

Passport Funds

Passport Funds

Fund ProfilesTRS' lineup of investment choices is known as the Passport Funds: six diverse choices to help you on the journey of a lifetime. Use the links in the left menu or below to learn more about these funds.

TRS members can invest in the Passport Funds by participating in TRS' Tax-Deferred Annuity (TDA) Program. The TDA Program is a supplemental retirement plan known as a Section 403(b) plan, which enables participants to save additional money for their retirement on a tax-deferred basis. Participants in the TDA Program may invest their TDA accumulations in any combination of the Passport Funds.

The Passport Funds are also available to Tiers I/II members to invest their accumulations in the Qualified Pension Plan (QPP). The QPP is the Section 401(a) plan that provides members with their retirement allowance.

Investment Choices

The Fixed Return Fund offers a guaranteed rate of return set by the New York State Legislature in accordance with applicable laws. Members are credited with 8.25% annually on QPP investments in the Fixed Return Fund. Members who are serving in (or resigned/retired from) UFT-represented titles are credited with 7% annually on TDA investments in this Fund, as of December 11, 2009; all other members are credited with 8.25% annually on TDA investments in this Fund.

The Diversified Equity Fund invests primarily in the stocks of U.S. companies. The fund may also invest in stocks of non-U.S. companies and other investments that may exhibit fixed-income characteristics. The objective is to achieve a rate of return comparable to the return of the broad equity market.

The Bond Fund invests primarily in a portfolio or portfolios of high-quality bonds, which may include Treasuries, Agencies, Corporates, Mortgages, and other types of fixed-income instruments. The objective is primarily to seek current income from a diversified portfolio of high-quality bonds.

The International Equity Fund invests primarily in the stocks of non-U.S. companies located in developed markets, traded on a variety of stock exchanges and denominated in a variety of currencies around the world. The objectives are to provide long-term capital growth and to achieve a rate of return comparable to the return of the non-U.S. developed equity markets over a full market cycle.

The Inflation Protection Fund invests in assets that may include but are not limited to commodities, real estate securities, and inflation-linked bonds. The objective is to provide, over a full market cycle, a real rate of return that exceeds inflation.

The Socially Responsive Equity Fund primarily invests in U.S. equities. The fund attempts to avoid companies that receive a significant portion of their revenue from alcohol, tobacco, nuclear power, or weapons. The objectives are to achieve, over a full market cycle, positive long-term capital growth and to earn a rate of return comparable to the return of the broader equity market while reflecting social priorities.