Statement From Attorney General Andrew Cuomo On Nystrs' Decision To Adopt Pension Reform Code Of Conduct

"I commend the New York State Teachers' Retirement System ("NYSTRS") for decisively and wisely implementing the principles of the Code of Conduct we have developed in our pension fund investigation. NYSTRS should be applauded for its long-standing and demonstrated commitment to transparency and accountability. The public pension fund industry must rid itself of pay to play and other unethical practices. Hopefully, the NYSTRS announcement today will serve as another building block in our effort to promote needed reforms like banning the use of placement agents and eliminating campaign contributions to those who make or influence pension fund investment decisions. We will continue our efforts to make the Code of Conduct a model for industry-wide reform and NYSTRS' action is a significant development in that endeavor."