Paul J. Raucci

The meeting included a discussion regarding the addition of a corporate governance item to the pension fund agenda. Financial reports and performance updates were presented for the first quarter of 2026, highlighting the impact of geopolitical tensions, particularly the Iran conflict, on market results and bond yields. Additionally, positive market rebounds in April were discussed, along with a comprehensive review of market economic indicators including inflation, employment rates, GDP growth, and credit market conditions.

The board meeting included an operational update regarding member account statements and newsletter distributions. The actuary presented eight fiscal notes covering topics such as World Trade Center-related benefits, Cost of Living Adjustment (COLA) eligibility and increases, Tier 6 retirement enhancements, and reamortization plans. Additionally, the board approved the annual rebalancing of internal funds, authorized the administrative budget for fiscal year 2027 including specific allocations for the Secure Act and modernization program, and confirmed the calendar of board meetings for the upcoming year.

This document outlines the Teachers' Retirement System of the City of New York's 5-Year Accessibility Plan, mandated by Local Law 12 of 2023. The plan is designed to enhance physical, digital, and programmatic access and communications for individuals with disabilities. Key strategic areas include digital access, effective communications, workplace inclusion, administrative requirements, general non-discrimination, programmatic access, and physical access. The plan demonstrates a commitment to achieving best practices and standards for accessibility, fostering an inclusive environment both online and onsite, and integrating digital accessibility into all organizational practices and services.

The board discussed investment performance, specifically reviewing the passport funds and pension fund results. Key topics included the impact of geopolitical tensions on market performance during the first quarter, the subsequent market rebound due to easing tensions, and strong corporate earnings. Additionally, there was a briefing on GDP growth trends, inflationary pressures as indicated by CPI and PPI data, and an overview of the current employment landscape and interest rate outlook under new leadership.

This document, an Accessibility Progress Report for 2025-2026, outlines the Teachers' Retirement System of the City of New York (TRS)'s efforts and future plans to enhance accessibility for all stakeholders. Building upon its Five-Year Accessibility Plan, TRS focuses on improving physical access, digital access, programmatic access, effective communication, and workplace inclusion. Key initiatives include designating a Digital Inclusion Officer, deploying disability awareness training, and reviewing materials for ADA and WCAG compliance, with a commitment to continuous improvement and stakeholder feedback.