US - New York City pension funds have filed shareholder proposals calling on the board of directors at seven companies to establish a protocol for acting on shareholder proposals that win majority votes.
"When boards of directors systematically disregard the majority votes of their companies' shareholders, they evince an unacceptable lack of accountability and indifference to the expressed wishes and concerns of the shareholders - a practice that, unfortunately, is common among far too many companies."
The proposal was submitted to BEA Systems, Clear Channel Communications, Credence Systems Corporation, Cumulus Media, HCC Insurance Holdings, Neurocrine Biosciences and Ultratech.
The boards of these companies failed to communicate to the New York City Comptroller's Office that they intended to take any action in response to the majority shareholder votes which New York City Pension Funds' proposals won at their companies' 2006 and/or 2007 annual meetings.
The New York City pension funds include the New York City Employees' Retirement System (NYCERS), the Teachers' Retirement System of New York City (TRS), the New York City Police Department Pension Fund, the New York City Fire Department Pension Fund, and the New York City Board of Education Retirement System (BERS).
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.