STC's governing rules are contained in the Superannuation Administration Act 1996 (the Act), which sets out STC's functions, duties and obligations as well as the requirements for Board member composition and appointments to the Board. The Treasurer of NSW has ministerial responsibility for the Act.
The governing rules for the defined benefit schemes are set out in the legislation establishing each of the schemes.
State Super's operational arrangements as at 30 June 2019 are set out below.
State Super's mission is to provide high quality superannuation services to members to maximise their superannuation benefits and to support the NSW Government in meeting its funding objective.
Principal functions of STC
STC's principal functions are to:
- administer the STC schemes
- invest and manage the STC Pooled Fund
- provide for the custody of the assets and securities of the STC Pooled Fund
- ensure scheme benefits are properly paid
- determine disputes under the schemes.