New York City Teachers' Retirement System Variable Annuity Funds, which is managed separately from the New York City Teachers Retirement System, is considering creating a new retirement plan. Three plans now are offered: two tax-deferred variable annuity fund plans, one with $12.2 billion and the other with $600 million, and a small defined benefit plan. "It's only in the discussion stages right now," said Diane Sisenwein, director-investment administration.
She said it is too early to say if the system would seek new investment managers or use the ones it currently uses for its three plan options: AllianceBernstein, Barclays Global Investors and Fidelity Institutional Retirement Services. The system's board will discuss whether to create a new plan over the course of its regular meetings, she said. The next meeting is scheduled for Sept. 23.