The New York City Comptroller, as investment adviser to the five New York City pension funds and retirement systems (collectively “the NYC Funds”), is responsible for voting the funds’ domestic proxies and developing and implementing the funds’ shareowner initiatives. The NYC Funds are:
- New York City Board of Education Retirement System (BERS)
- New York City Employees’ Retirement System (NYCERS)
- New York City Fire Department Pension Fund (Fire)
- New York City Police Pension Fund (POLICE)
- New York City Teachers’ Retirement System (TRS)
Consistent with the fiduciary obligations of the NYC Funds’ Boards of Trustees, the proxy voting and shareowner initiatives programs actively promote sound corporate governance, responsible executive compensation and sustainable business practices at portfolio companies in order to protect and enhance the long‐term value of the NYC Funds’ investments.
The Corporate Governance and Responsible Investment program of the New York City Comptroller’s Office develops and implements the proxy voting and shareowner initiative programs of the five systems, including engagement with management and directors at portfolio companies. Program staff present the proposed programs to the Proxy Committee of each system for review and approval. Each Proxy Committee acts on behalf of its respective Board of Trustees.