Ethics and Conduct Standards

NYSTRS strives to model strong ethical values within the pension industry. Our Board and staff take their fiduciary responsibility seriously and are committed to the highest standards of conduct.

Toward this end, the System has in place several manuals and policies designed to ensure our values-based foundation remains strong, including the Internal Asset Management Code of Professional Conduct, which is found in the Investment Policy Manual. Our belief is the existence of, and adherence to, such policies further strengthens public confidence in NYSTRS.

In addition to the above, these manuals and policies include, but are not limited to, the following:

• Board Governance Manual, which includes NYSTRS’ Code of Ethics and the Policy Governing Receipt of Gifts.
• Investment Policy Manual
• Ban on Placement Agent Contacts

System staff adhere to the following guiding principles of ethics and conduct:

• Ensure compliance with all applicable laws, ethical and professional standards, and the System’s policies and procedures. 
• Protect the interests of stakeholders, including members, employers and the public. 
• Act with integrity at all times to prevent a violation of public trust. 
• Guard the privacy of stakeholder information. 
• Respect one another to ensure the highest productivity and customer service. 

The System also serves as an ethical watchdog for both internal and external stakeholders. The Internal Audit department, for example, has among its job duties to identify and rectify cases of fraud, waste or abuse. As such, employees, employers and the general public are encouraged to report suspected fraud or misuse of System assets. Several reporting avenues exist; learn more about reporting fraud.

Tangentially, NYSTRS' Risk Management department provides a coordinated framework for identifying, mitigating and reporting risks that could impede the System from meeting its strategic objectives.