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Georgia

Georgia has two main public retirement systems, ERGSA and TRSGA, governed by separate boards.

  • The TRSGA board represents all eligible public teachers and consists of 10 members: the State Treasurer, State Auditor, 5 members appointed by the Governor (2 TRSGA members who are classroom teachers and not employees of the Board of Regents, 1 TRSGA member who is a public school administrator, 1 TRSGA member who is not an employee of the Board of Regents, and 1 Member-at-Large), 1 Board of Regents appointee who is a TRSGA member and an employee of the Board of Regents, and 2 Trustee appointees (1 retired TRSGA member and 1 member experienced in the investment of money, but not a member TRSGA).

ERGSA is governed by three main Boards:

  • The PSERS board represents public school employees; the board consists of 9 members: 3 Ex Officio (State Auditor, State Treasurer, Department of Administrative Services Commissioner); 3 appointed by the Governor; 2 elected by other Trustees who have had at least five years of creditable service in ERS; 1 elected by other Trustees who has had at least 10 years of investment experience.
  • The JRS board represents state judges and justices; the board consists of 10 members: 3 Ex Officio (State Auditor, State Treasurer, Department of Administrative Services Commissioner); 1 appointed by the Governor; 2 appointed by the Governor who are a superior court judge, state court judge, district attorney, state court solicitor-general, or a juvenile court judge; 2 elected by other Trustees who have had at least five years of creditable service in ERS; 1 elected by other Trustees who have had at least 10 years of investing experience.
  • The ERS board represents all other eligible state employees; the board consists of 7 members: 3 Ex Officio (State Auditor, State Treasurer, Department of Administrative Services Commissioner); 1 appointed by the Governor; 2 elected by other Trustees who have had at least five years of creditable service in ERS; 1 elected by other Trustees who have had at least 10 years of investing experience.

Averages

Pro-ESG

Anti-ESG

State Rank

3rd

State Rank

50th

Asset Manager Average

26%

Asset Manager Average

2%

By Asset Manager

Artisan Partners

Percentage of times Mgr. voted “for” pro-ESG proposals:

37%

Fisher Investments

Percentage of times Mgr. voted “for” pro-ESG proposals:

54%

Loomis Sayles

Percentage of times Mgr. voted “for” pro-ESG proposals:

49%

Mondrian Investment Partners

Percentage of times Mgr. voted “for” pro-ESG proposals:

50%

Sands Capital Management, LLC

Percentage of times Mgr. voted “for” pro-ESG proposals:

49%

T. Rowe Price Associates, Inc.

Percentage of times Mgr. voted “for” pro-ESG proposals:

25%

Baillie Gifford

Percentage of times Mgr. voted “for” pro-ESG proposals:

26%

Asset Manager Voting

Board Diversity:

26%

Require Environmental/Social Qualifications:

0%

Establish Environmental/Social Committee:

9%

Link Executive Pay to Social Goals:

0%

Climate Change:

27%

GHG Emissions:

15%

Climate Change Action:

0%

Report on Healthcare/Abortion:

2%

Weapons-Related Proposals:

4%

Social Proposal:

4%

Income Inequality:

0%

Political Activities and Action:

3%

Political Contributions and Lobbying:

33%

Political Lobbying Disclosure:

25%

Racial Equity Audit:

17%

Management Environmental Proposals:

97%

Anti-Social (Anti-ESG):

0%

Charitable Contributions:

3%

**The Retirement Systems of Alabama (RSA) has denied that State Street invests equities or casts proxy votes for the State. RSA has yet to publish its proxy voting records or disclose its investment managers. RSA’s public records list State Street a custodial bank and as a fund manager. No other investment managers are named in RSA public records, which is what is reported on the 1792 Exchange Proxy Database. RSA claims that Glass Lewis conducts its proxy voting. 1792 Exchange encourages RSA to publish these voting records in order that these records might be updated on this page. 1792 Exchange also encourages RSA to retain authority over proxy voting for ESG resolutions and not entrust these duties to Glass Lewis, a firm the Attorney General of Alabama has investigated for promoting ESG priorities at the expense of fiduciary responsibility.

Disclaimer: The information contained in this report, ‘Proxy Voting,’ is intended for educational purposes only and does not constitute financial or investment advice. Click here for the full disclaimer.

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