CalSTRS to question corporations on political spending
The California State Teachers’ Retirement System (CalSTRS), the 2nd largest pension fund in the country, has just announced it may push corporations to disclose their political donations, under a policy adopted by the CalSTRS investment committee.
The new CalSTRS policy
would declare that corporate boards are responsible for political spending by their companies and that contributions should be “in the best interest of shareholders".
CalSTRS hopes to set the standard and that other pension systems will follow their lead in adopting this policy.Read more