| Serving New York Educators Since 1921 |
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.
| 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 |
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
| April 2013 | May 2012 |
| January 2013 | January 2012 |
| October 2012 | October 2011 |
| July 2012 | July 2011 |