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Illinois

Illinois has four main public employee pension funds: Illinois State Employees Retirement System (SERS), Illinois Teachers Retirement System (TRS), Illinois State Universities Retirement System (SURS) and Illinois Municipal Retirement Fund (IMRF).

The SERS board represents all eligible state employees and consists of 13 members: The Illinois Comptroller, 6trustees appointed by the Governor, 4 active trustees elected by the SERS members, and 2 retired trustees elected by SERS retirees.

The Illinois State Board of Investment (ISBI) manages assets for Illinois SERS and discloses its specific proxy voting records on this website.

The TRS board represents public teachers and consists of 15 members: The state superintendent of education, 7 trustees appointed by the governor, 5 trustees elected by contributing TRS members, and 2 trustees elected by TRS annuitants. The Governor appoints the President of the Board of Trustees.
The SURS board represents state university employees and consists of 11 members approved by the state senate: 4 trustees are elected by active SURS members, 2 trustees are elected by retired SURS members, and 5trustees are appointed by the Governor (one of whom is the chairperson of the Illinois Board of Higher Education). The Governor designates the board chairperson.

The IMRF board represents participating municipal employees and consists of 8 members: 4 Executive Trustees elected by participating units of government, 3 Employee Trustees elected by participating IMRF members, 1 Annuitant Trustee elected by IMRF annuitants.

The first table utilizes the state’s publicly disclosed proxy voting records for public securities that it directly owns through pension fund portfolios. The second table uses the aggregated proxy voting records of the state’s asset managers, who manage the pensions’ stock market portfolio either through mutual funds or ETFs, and are therefore exercising proxy voting privileges as well. Both of these tables are necessary to reflect an accurate and comprehensive picture of the state’s proxy voting records.

Averages

Pro-ESG

Anti-ESG

State Voting Average

30%

State Voting Average

14.81%

State Rank

19th

State Rank

38th

Asset Manager Average

37%

Asset Manager Average

4%

By Asset Manager

Adams Funds

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

6%

AQR Capital Management, LLC

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

73%

Ariel Investments, LLC

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

72%

BlackRock

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

37%

Blackstone

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

37%

BNY Mellon Funds

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

38%

Brookfield Asset Management

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

39%

Dimensional Fund Advisors, Inc.

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

32%

Emerald Asset Management

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

33%

GQG Partners

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

33%

Grandeur Peak Global Advisors, L.L.C.

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

33%

Greenspring Funds

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

33%

JP Morgan Asset Management

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

36%

Lazard Asset Management, LLC

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

37%

LSV Asset Management

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

37%

Northern Trust Asset Management

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

40%

T. Rowe Price Associates, Inc.

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

37%

UBS

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

37%

Wasatch Advisors

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

37%

William Blair Investment Management, LLC

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

37%

Zevenbergen Capital Investments LLC

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

37%

Acadian Asset Management

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

37%

Macquarie Investment Management Advisers

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

37%

Asset Manager Voting

Board Diversity:

23%

Require Environmental/Social Qualifications:

0%

Establish Environmental/Social Committee:

10%

Link Executive Pay to Social Goals:

12%

Climate Change:

34%

GHG Emissions:

35%

Climate Change Action:

12%

Report on Healthcare/Abortion:

20%

Weapons-Related Proposals:

12%

Social Proposal:

19%

Income Inequality:

4%

Political Activities and Action:

5%

Political Contributions and Lobbying:

32%

Political Lobbying Disclosure:

40%

Racial Equity Audit:

40%

Management Environmental Proposals:

75%

Anti-Social:

4%

Charitable Contributions:

5%

State Voting

Board Diversity:

40.0%

Require Environmental/Social Qualifications:

0.0%

Establish Environmental/Social Committee:

0.0%

Link Executive Pay to Social Goals:

0.0%

Climate Change:

30.3%

GHG Emissions:

68.8%

Report on Healthcare/Abortion:

33.3%

Weapons-Related Proposals:

33.3%

Social Proposal:

42.3%

Income Inequality:

23.1%

Political Activities and Action:

18.2%

Political Contributions and Lobbying:

40.0%

Political Contributions and Lobbying:

75.0%

Racial Equity Audit:

61.9%

Management Environmental Proposals:

100.0%

Anti-Social:

0.0%

Charitable Contributions:

30.8%

**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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