The Teachers' Retirement System of the City of New York (TRSNYC) is a public pension fund that provides New York City educators with retirement, disability, and death benefits. TRSNYC was established on August 1, 1917 and is currently the second-largest New York City pension system. We are also one of the largest pension plan sponsors in the United States, with more than $72 billion in assets and over 200,000 members, retirees, and beneficiaries. The Teachers' Retirement Board, a seven-member Board, sets policy and oversees TRS' operations. Three TRS members ("Teacher Members") are elected to the Board and serve three-year terms. The Mayor appoints two of the Board members, one of whom must be a member of the Department of Education's Panel for Education Policy. The other two Board members are the Comptroller of the City of New York and the Chair of the Panel for Educational Policy. Each may designate a representative to act in his or her behalf.