CalPERS Pushes for Proxy Access Rules

CalPERS, the nation’s largest public pension fund, plans to press for reforms that would give investors more power to elect their own board members.

The California Public Employees’ Retirement System voted to push for new rules giving shareholders greater access to management’s proxy for the nomination of directors, becoming the latest institutional investor to get behind the equal access cause.

The $130-billion pension fund will pursue rule-making action at the Securities and Exchange Commission or “other relevant regulatory bodies as may be appropriate.”