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Does the TRS staff decide how to invest the assets held by TRS?
No. The TRS Board of Trustees has the legal responsibility for investments. They oversee the hiring of highly qualified experts, some of whom help the Board develop an investment strategy, policies and objectives. Others are hired to manage different investment portfolios to implement the Board's investment plan.
How can I be sure that TRS is acting responsibly with my investment?
The TRS Board of Trustees and staff are fiduciaries and monitor the activities of the firms employed to make day-to-day investment decisions. They also oversee the activities of the custodial bank, which keeps track of every investment transaction made on behalf of TRS. Each portfolio manager prepares written reports to the Board on the purchase and sale of securities held in their account. The Board's investment consultant meets monthly with the Board's Investment Committee to review performance of each portfolio manager, and to ensure the asset allocation model and investment strategy is being following and is working. In addition, the Oklahoma State Pension Commission receives a quarterly update on the investment performance of each of the state-run pension plans.