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.
Policies & Regulatory Reforms