Prajakta Chitnis

The Board of Commissioners of the New York State Insurance Fund was unable to conduct business due to a lack of quorum.

The meeting included reports from the Executive Director & CEO, Acting General Attorney, and Standing Committees, covering topics such as the MWBE Symposium and year-end financials. The Board discussed the year-end financials of the Workers' Compensation Insurance Fund and the Disability Benefits/Paid Family Leave Fund. The Investment Committee reported on the structured products portfolio. The Board approved entering into a five-year contract with Trepp, Inc. for analytical tools related to commercial mortgaged-backed securities.

The meeting included reports from the Executive Director & CEO, announcing the new Director of Policyholder Services, and from the General Attorney's Office. The Investment Committee reported on profit and loss analysis, manager performance, venture capital, the annual structure product portfolio review, and an update on the collapse of Silicon Valley Bank and Signature Bank. The Board authorized the Investment Department to enter into a seven-year contract with Mercer Investments, LLC for Investment Advisor Services, pending legal review, execution, and approval by the Superintendent of Financial Services.

The meeting included reports from the Executive Director & CEO and the General Attorney's Office, with further discussion reserved for an Executive Session. The Investment Committee reported on profit and loss analysis and provided an update on NYSIF's sustainable investment program. During the executive session, the board approved a contract with Glass Lewis & Co. LLC for proxy voting services and another contract with CreditSights, Inc. for analytical tools and research reports. Additionally, a salary increase was approved for the Director of Legal Collections & Assistant Secretary to the Board of Commissioners.

The New York State Insurance Fund (NYSIF) strategic plan, mandated by Executive Order 31, focuses on increasing the hiring and retention of people with disabilities. Key objectives include making workplaces accessible, proactively connecting with people with disabilities for open positions, and communicating the agency's commitment to disability inclusion to the public, other agencies, stakeholders, management, and employees. The plan outlines specific actions such as conducting accessibility surveys, providing reasonable accommodations, developing inclusive hiring practices, partnering with disability organizations, and promoting the agency's efforts through various communication channels.