Overview

Pension Investment Reform NYC is an innovative proposal of unprecedented governance and management reforms to the New York City Pension System. These reforms will simplify a complex, outdated investment structure and ensure that the $120 billion New York City Pension System is best-in-class among peer institutional investors worldwide.

What People Are Saying

“I will work, everyday, to maximize the potential of this office. I will strive to deliver substantial results on behalf of the people through unparalleled financial expertise, utmost integrity, and the highest level of professionalism.

I will work, everyday, for the future of our retirees, through responsible management of investments, and protecting the assets of the city's pension funds.” Comptroller John C. Liu
Inaugural Address
January 1, 2010
“We’re overhauling an antiquated pension management system that has needed restructuring for generations – depoliticizing the process, further professionalizing the staff and implementing industry best practices.” Michael R. Bloomberg
Mayor
New York City
“The newly proposed changes would move New York City Pension Funds to the front of the class of public pension organizations not just in the USA, but internationally as well.” Keith Ambachtsheer
Director
Rotman International Centre for Pension Management, Rotman School of Management, University of Toronto
President and Founder
KPA Advisory Services
“I congratulate the NYC Pension System in adopting a best-in-class governance model.” Andrew Ang
Ann F. Kaplan Professor of Business
Columbia Business School
“We strongly support these efforts to bolster the pension investment returns for New York City Firefighter pensions. We’ve been encouraging the city to develop a strategic plan for the pension investments that allows it to enhance investment returns for beneficiaries and be much more responsive to changes occurring in the global financial marketplace.” Steve Cassidy
President
Uniformed Firefighters Assocation of Greater New York
“This innovative agreement will ultimately lessen taxpayer burden and protect municipal employee pensions. Congratulations to Mayor Bloomberg, Comptroller Liu and the labor leaders involved. This agreement represents a desire to put people first and serves as a model for cooperation between labor and government.” Eric Eve
First Deputy Comptroller
Office of the New York City Comptroller
“The bold steps announced today to restructure Pension NYC should enhance the sustainability of its members' pensions and reduce costs to taxpayers.” Jim Leech
President and CEO
Ontario Teachers' Pension Plan
“They are going to look at ways to generate more returns with the pension funds so that the city will get relief. And for the unions, the returns for its members will be greater.” Harry Nespoli
Chairman
Municipal Labor Committee
“It sounds like an innovative approach to providing relief to taxpayers while maintaining pension guarantees to our past and present employees. The details are critical to any deal but it is certainly worth listening to.” Mike Palladino
President
Detectives’ Endowment Association
Co-chair
Pension Sub-committee, Municipal Labor Committee
“In difficult economic times, our leaders must examine unconventional partnership to carry us through. Vision, coupled with outside the box thinking is the brand of resilience that makes New York City great.” Roy T. Richter
President
NYPD Captains Endowment Association
“The proposal to create an Investment Board is a win-win situation for the taxpayers and the participants of the retirement system. We applaud Comptroller John Liu for thinking outside the box and for bringing all affected parties to reach consensus on moving forward with this proposal.” Lillian Roberts
Executive Director
District Council 37
“New York’s business leadership has long advocated for efficiencies in the city’s pension systems. Today’s innovative agreement is a step toward reducing taxpayer burdens while protecting current and future municipal employee pensions. Congratulations to Mayor Bloomberg, Comptroller Liu and labor leaders for this historic initiative.” Bill Rudin
Chairman
Association for a Better New York
“This initiative demonstrates what can be achieved when elected officials and labor work together. Innovative leadership is something New York's business community has sought after for a long time, and I applaud the Mayor, Comptroller and labor leaders for their cooperation.” Jerry Speyer
Chairman and Co-Chief Executive Officer
Tishman Speyer