Overview of the NYC Public Pension Funds

The City's primary employee Pension Funds are the New York City Employees' Retirement System (NYCERS); the Teachers' Retirement System of the City of New York (TRS), the New York City Police Pension Fund Subchapter 2 (POLICE ); New York City Fire Department Pension Fund   Subchapter Two (FIRE); and the New York City Board of Education Retirement System (BERS).  Each Pension Fund is financially independent and has its own board of trustees.

The Funds provide benefits to their members, which are financed by contributions from members, their participating employers and the Funds' investment earnings.

Investment policies are adopted by each of the Funds' boards of trustees.  Each Board establishes an asset allocation policy and defines investment objectives.  

The Comptroller is the custodian and investment advisor to the Boards of the five Pension Funds.