State Senator Andre Jacque has introduced a new bill that will affect the Wisconsin Retirement System.
The measure, which is co-sponsored by Fond du Lac Representative Jerry O’Connor, creates requirements and limitations applicable to the State of Wisconsin Investment Board (SWIB) with respect to shareholder voting for securities that SWIB manages for the Wisconsin Retirement System (WRS).
The bill also limits SWIB’s ability to engage with a company regarding shareholder voting or introducing shareholder proxy proposals.
Sen. Jacque and Rep O’Connor noted in their announcement, “The WRS is widely considered among the strongest in the nation. The SWIB manages investments and proxy voting for the WRS. To keep WRS strong, it is important that financial and not political considerations remain the focus of investment and voting decisions.”
