FROM: Don Pierce, Chief Investment Officer
SUBJECT: Investment Policy No. 009 (Proxy Voting Policy)
RECOMMENDATION:
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Approve and adopt updates to the Investment Policy No. 009 (Proxy Voting Policy).
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BACKGROUND:
General Policy No. 005 involves the periodic review of Board Policies and indicates that the Investment Committee shall review investment policies every three years.
Investment Policy No. 009 (Proxy Voting Policy) was last reviewed in 2021.
Investment staff, NEPC, and our Legal department have conducted a review of Investment Policy No. 009 (Proxy Voting Policy) and has found it consistent with current practice. Staff is therefore recommending renewal of Investment Policy 009 (Proxy Voting Policy) without substantive change.
COMMITTEE REVIEW:
This item was reviewed by the Investment Committee at its meeting on October 10, 2024, and recommends Board approval with a 3-0 vote. Trustee Basle was absent from the meeting.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Prudent Fiscal Management
STAFF CONTACT:
Don Pierce
ATTACHMENTS:
Exhibit A: Investment Policy No. 009 (Proxy Voting Policy)