Board of Directors
6 February 2023
Thomas K. Lee is currently responsible for the investment of plan assets totaling $132B.
Reporting to a 10-member Board of Trustees, he oversees the work of NYSTRS’ investment staff
in managing the internally-managed investment portfolios, developing and performing due
diligence on potential external private and public investment opportunities, and monitoring and
reporting on the activities and performance of third-party investment managers in which the
System has invested. In his capacity as executive director of the Retirement System, Tom
oversees the administration of retirement benefits to more than 442,000 active members,
retirees and beneficiaries. He is also responsible for overseeing members’ service credit and
salary information as reported to the System by it 822 participating employers.
As of June 30, 2022, NYSTRS paid approximately $8.0 billion in annual benefit payments, over
80% of which was distributed to New York residents. The Retirement System is among the best-
funded public pension plans in the nation. Based on the market value of assets, our funded
ratio at June 30, 2022 was 97%. Using the actuarial value of assets, the funded ratio was 99%.
Prior to NYSTRS, Tom was Executive Director of Maryland State Retirement and Pension
System. He has various professional affiliations, such as serving as a member of the Investment
Committee of the Institute of Electrical and Electronics Engineers (IEEE), the Board of the
National Council of Real Estate Investment Fiduciaries (NCREIF), the Board of the PREA
Foundation, the Board of the International Centre for Pension Management, and the Council of
Institutional Investors’ U.S. Asset Owners Advisory Council.
Mr. Lee has a BA in Political Science and Sociology from Dickinson College, a MA in Political
Science from Temple University, and a MBA from George Washington University.