A news release from Liu’s office said the initiative will be implemented by July 1, 2011. According to the announcement, the new public disclosure effort includes that pension board meetings will be Webcast live and then archived on the Comptroller’s Web site for on-demand viewing.
Further, information about the Pension Funds will be published and archived online. This will include Pension Board minutes and agendas; portfolios holdings by money managers with performance indicators; shareholder resolutions submitted on behalf of the NYC Pension Funds; detailed Quarterly Reports; and Comprehensive Annual Financial Reports for each of the five NYC Pension Funds. Also the site will feature Frequently Asked Questions regarding the NYC Pension Funds, and will allow the public to also offer comments and suggestions. The Comptroller’s Office said it will work with the Pension Board Trustees to implement these additional programs:
By the end of this year the Comptroller’s Office will incorporate Pension Fund expenditures into “Checkbook NYC,” the current program which posts agency spending online in real time.
This program will allow the public to view real time data on the Pension Funds holdings. Last year Comptroller Liu increased the transparency of pension performance data by posting monthly results online, where previously the information was available only in an annual report.
“Pension NYC” will be available at mymoneynyc.com – and will become part of Comptroller Liu’s broader “My Money NYC” transparency.
The New York City Pension Funds include the New York City Employees’ Retirement System, the Teachers’ Retirement System, the New York City Police Pension Fund, the New York City Fire Department Pension Fund, and the Board of Education Retirement System.
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