Public finance; terms; Board of Trustees; votes; proxy proposal; pecuniary factors; exception; report; publish; effective date.

Summary

The bill tells the Boards of Trustees of state pension plans to base all shareholder votes on pecuniary considerations that affect investment risk and return. It also requires them to keep the right to vote proxies, use qualified proxy advisors, and post a yearly report of every vote on their website by March 1 of the following year. The goal is to ensure fiduciary decisions focus on maximizing shareholder value.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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