Comptroller's NYS Common Retirement Fund Responsibilities

As the sole trustee responsible for the New York State Common Retirement Fund (Fund), Comptroller DiNapoli is directly accountable for its performance, oversight and management. The sole trustee model also enables him to act quickly to respond to market changes and to protect the Fund.

Independent advice

The Comptroller is a diligent fiduciary of the Fund who ensures that investment decisions and practices adhere to the highest levels of ethical conduct and transparency. He seeks the input of a wide range of internal and external advisors, consultants and legal counsel who:

Meaningful reforms

Comptroller DiNapoli continues changing the way the Fund operates to increase transparency and establish strong internal controls, ensuring the strongest investment performance and ethical operations. He:

  • Instituted the most stringent reporting requirements on investments, fees and other information.
  • Barred investment firms contributing to his campaign from doing business with the Fund.
  • Provided a leading voice in getting the Securities and Exchange Commission to impose tough rules on “pay to play” to prevent improper influence on investment decisions.
  • Increased opportunities for women and minority firms throughout its portfolio of investments by expanding the pension fund’s Emerging Manager Program into each of the Fund's main asset classes.

Other policies and regulatory reforms include: