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).
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.