At this meeting, a quorum was present, and the Board took the following actions:

• Authorized the Modernization Program to replace the current pension administration system to meet TRS' business requirements and entered into contract with Sagitec Solutions, LLC for the remainder of the Modernization Program. Additionally, an increase in TRS' Fiscal Year 2015 budget was approved to pay for the Modernization Program so that the total amount allocated for the Fiscal Year, including previously authorized funding, would equal $35,000,000.
• Authorized the Comptroller of the City of New York to invest certain portions of the Contingent Reserve Fund, the Pension Reserve Fund, the Annuity Savings Fund, and the Annuity Reserve Fund for a three-month period, terminating on March 31, 2015.
• Authorized the Comptroller of the City of New York to invest the net contributions derived from the Fixed portion of the Tax-Deferred Annuity Program for a three-month period terminating on March 31, 2015.

At this meeting, a quorum was present, and the Board took the following actions:

• Approved the appointment of Robert C. North, Jr. as the Acting Chief Actuary for the period commencing November 1, 2014 and ending December 31, 2014.
• Authorized TRS to implement benefit recalculations to properly credit the Bridge Population for per session earnings consistent with the Weingarten and Nager litigations in accordance with the methodology recommended by the Actuary.

At this meeting, a quorum was present, and the Board took the following actions:

• Adopted Qualified Pension Plan (QPP) Policies 2014-1 through 2014-12, which reflect current operations.

At this meeting, a quorum was present, and the Board took the following actions:

• Authorized the Comptroller of the City of New York to invest certain portions of the Contingent Reserve Fund, the Pension Reserve Fund, the Annuity Savings Fund, and the Annuity Reserve Fund for a three-month period, terminating on December 31, 2014.
• Authorized the Comptroller of the City of New York to invest the net contributions derived from the Fixed portion of the Tax-Deferred Annuity Program for a three-month period terminating on December 31, 2014.

At this meeting, a quorum was present, and the Board took the following actions:

• Authorized the Comptroller of the City of New York to invest certain portions of the Contingent Reserve Fund, the Pension Reserve Fund, the Annuity Savings Fund, and the Annuity Reserve Fund for a three-month period, terminating on September 30, 2014.
• Authorized the Comptroller of the City of New York to invest the net contributions derived from the Fixed portion of the Tax-Deferred Annuity Program for a three-month period, terminating on September 30, 2014.
• Adopted the Actuary's recommendation for the Tiers III/IV loan insurance premium rate to be continued at 0.20% of the outstanding loan balances for any loan originating during Fiscal Year 2015.
• Approved the recommendation to increase the Fiscal Year 2015 TRS budget in the amount of $10,009,043 to be taken from TDA and Variable Program Expense Funds and $3,925,457 to be provided by QPP funding for the Modernization project.
• Reappointed Dr. Laura Brumberg to a three-year term on the Medical Board, which expires on July 31, 2017.
• Announced the election of Mr. Thomas Brown to the Teachers' Retirement Board on May 18, 2014 in accordance with Section 13-507 of the Administrative Code of the City of New York.

At this meeting, a quorum was present, and the Board took the following actions:

• Authorized the Actuary to utilize June 30, 2013 Pension Census Data to determine Fiscal Year 2014 Other Postemployment Benefits obligations for the City of New York.
• Approved the recommendation of the Comptroller of the City of New York to prohibit the use of placement agents or intermediaries in the engagement of all public and private markets firms by the Teachers' Retirement System of the City of New York.
• Approved the Actuary's recommendation for a Fiscal Year 2014 Employer Contribution to the Excess Benefit Fund in the amount of $493.

At this meeting, a quorum was present, and the Board took the following actions:

• Approved the Actuary's recommendation for Fiscal Year 2014 employer contributions to the Teachers' Retirement System of the City of New York in the amount of $2,998,693,727.
• Authorized the adoption of the proposed Agency budget in the amount of $54,618,734 for Fiscal Year 2015.

At this meeting, a quorum was present, and the Board took the following actions:

• Authorized the Comptroller of the City of New York to invest certain portions of the Contingent Reserve Fund, the Pension Reserve Fund, the Annuity Savings Fund, and the Annuity Reserve Fund for a three-month period, terminating on June 30, 2014.
• Authorized the Comptroller of the City of New York to invest the net contributions derived from the Fixed portion of the Tax-Deferred Annuity Program for a three-month period terminating on June 30, 2014.

At this meeting, a quorum was present, and no resolutions requiring Board action were introduced.