The Administrative Code of The City of New York authorizes the investment of plan assets subject to the terms, conditions, limitations and restrictions imposed by law for investments by savings banks. The New York State Retirement and Social Security Law establishes the criteria for permissible equity investments. The TDA Program may invest in, but is not limited to, obligations of the United States, obligations of New York State, certain mortgage obligations and equity investments.
Cash deposits are insured by the Federal Deposit Insurance Corporation for up to $100,000 per TDA Program participant and, are therefore, fully insured. All investments of the TDA Program for the years ended as of June 30, 1998 and 1997 are held by the TDA Program or by its custodial agent in the TDA Program’s name.
Investments of the TDA Program are categorized by level of credit risk (the risk that a counterparty to an investment transaction will not fulfill its obligations). Category 1, the lowest risk, includes investments that are insured or registered or for which the securities are held by the entity or its agent in the entity’s name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty’s trust department or agent in the entity’s name. Category 3, the highest risk, includes uninsured and unregistered investments for which the securities are held by the counterparty or by its trust department or agent, but not in the entity’s name.
[TDA menu] [investment menu] [accounting policies]
[funding and contributions] [custodians and investment advisors] [related parties]
[variable unit value growth] [financial statements]