NYSTRS’ 10-member Board sets policy and oversees System operations.
Trustees serve without compensation and 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.
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.
Trustees represent various constituents, including active and retired teachers, school administrators and school boards. The Board's composition, including selection criteria and term length, is mandated by law as follows:
- Three teacher members are elected from the membership, one each year, by delegates to the System's Annual Meeting;
- One NYSTRS retiree is elected (if there is more than one candidate) by a mail vote of all retired members;
- Two school administrators are appointed by the state Commissioner of Education;
- Two present or former school board members, experienced in the fields of finance and investment, are elected by the Board of Regents based on recommendations of the New York State School Boards Association. At least one of these individuals must have experience as an executive of an insurance company;
- One present or former bank executive is elected by the Board of Regents; and,
- The State Comptroller or a designee.
Trustees serve three-year terms, except the State Comptroller (or designee) who serves while in office.