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Serving New York Educators Since 1921

Retirement Board

NYSTRS' 10-member Retirement Board sets policy and oversees System operations. Trustees serve without compensation and represent various constituents, including active and retired teachers, school administrators, school boards and taxpayers. The Board's composition, including selection criteria and term length, is mandated by law.

Members of the Board are responsible as fiduciaries to protect the long-term value of the System's investment portfolio and provide benefit security for members. They are entrusted to invest funds at the highest possible long-term rate of return consistent with appropriate levels of diversity and risk. This must be accomplished at the lowest possible cost to participating employers. Read the Board Governance Manual and Resolution Supporting Defined Benefit Plans.

The Board receives counsel from staff, advisory committees and investment consultants to help formulate its investment policy. Refer to the Investments page for more information about NYSTRS' investment strategy and current holdings.

Members serve on the following subcommittees that report to the full Board: Audit; Compensation; Disability Review; Ethics; Executive; Investment; and, Retired Members. Board Portal

Trustees of the Retirement Board

R. Michael Kraus
President
Insurance Executive elected by Board of Regents
Trustee since 1992
David P. Keefe
Vice President
Retired Teacher Member elected by NYSTRS Retirees
Trustee since 2004
Paul J. Farfaglia Teacher Member elected by NYSTRS Delegates
Trustee since 2009
Dr. Phyllis S. Harrington Administrator appointed by Commissioner of Education
Trustee since 2010
Daniel J. Hogarty Jr. Bank Executive elected by Board of Regents
Trustee since 2005 
Karen E. Magee Teacher Member elected by NYSTRS Delegates
Trustee since 2011
Michael J. Masse Bank Executive elected by Board of Regents
Trustee since 2009
Dr. L. Oliver Robinson Administrator appointed by Commissioner of Education
Trustee since 2010
Nicholas Smirensky State Comptroller's Representative
Trustee since 2007
Timothy M. Southerton Teacher Member elected by NYSTRS Delegates
Trustee since 2011

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Meeting Schedule

Board Meetings

NYSTRS' Retirement Board meets four times a year. Additional meetings are called as necessary. The Board's upcoming meeting dates are:

  • Wednesday, July 24

  • Wednesday, Oct. 30–Thursday, Oct. 31

Board Meeting Summaries

April 2013 May 2012
January 2013 January 2012
October 2012 October 2011
July 2012 July 2011

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