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Comptroller DiNapoli's Pension Reforms


State Comptroller DiNapoli has made the Fund one of the most transparent and accountable public pension funds in the country by:

Changing the Way the Fund Does Business

  • Prohibits the Fund from doing business with investment advisers who make political contributions to the State Comptroller or a candidate for State Comptroller.
  • Banned placement agents, paid intermediaries and registered lobbyists from investing with the Fund.
  • Expanded internal and external vetting, review and approval of all investment decisions.
  • Created a mandatory ethics training program for all staff, including the Comptroller.

Strengthening Oversight of the Fund

  • Developed new regulations governing the operations of the Fund.
  • Created Inspector General position to monitor investment transactions and the activities of the Comptroller and OSC employees.
  • Hired Special Counsel for Ethics to monitor investment transactions and to implement a comprehensive ethics program.

Increasing Transparency in Fund Transactions

  • Releases monthly reporting on investment transactions.
  • Reports pension fund performance quarterly instead of annually.
  • Initiated a comprehensive review of all Fund external consultants.