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New Jersey

New Jersey has four main public pension funds, PERS, TPAF, PFRS, and SPRS. The New Jersey State Investment Council (NJ SIC) handles proxy voting for these retirement systems. The NJ SIC discloses its proxy voting records on this website.

  • The NJ SIC is comprised of 16 members: 13 members are appointed by the Governor (8 with the advice and consent of the State Senate, 1 from nominees submitted jointly by the President of the Senate and Speaker of the Assembly, 2 from nominees submitted by various employee organizations, 2 from nominees submitted by the New Jersey State AFL-CIO, 1 from nominees submitted by the New Jersey Education Association (NJEA), and 1 from nominees submitted by the State Troopers Fraternal Association), 2 members representing the Public Employees’ Retirement System (PERS) and the Teachers’ Pension and Annuity Fund (TPAF) are designated from members of the respective pension system’s board of trustees, and 1 member is designated by the Chief Justice of the New Jersey Supreme Court from members of the Retired Judges Association of New Jersey.

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

By Asset Manager

Homestead Funds

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

3%

Blackstone Funds

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

84%

Brookfield Funds

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

48%

Asset Manager Voting

Pro-ESG

42%

Anti-ESG

2.1%

Anti-Fossil Fuels

38%

Anti-Pollution/Waste

50%

Animal Rights

11%

DEI

45%

Weapons/Defense

44%

Human Rights

49%

Income Equality

46%

Political Speech/Lobbying Spending

45%

Health Care

50%

Race/Gender targets on Boards

0%

Non-Pecuniary

27%

ESG-Focused Governance

25%

Abortion

57%

Pro-Fossil Fuel

0%

Equality not DEI

0%

Controversial Cause Support

0%

Geopolitical Rivals/China

11%

State Voting

Pro-ESG

86%

Anti-ESG

0%

Anti-Fossil Fuel

77%

Anti-Pollution/Waste

57%

Animal Rights

73%

DEI

95%

Weapons/Defense

80%

Human Rights

96%

Income Equality

100%

Political Speech/Lobbying Spending

98%

Health Care

86%

Race/Gender targets on Boards

100%

Non-Pecuniary Corporate Purpose

100%

ESG-Focused Governance

78%

Abortion

90%

Pro-Fossil Fuel

0%

Equality not DEI

0%

Controversial Cause Support

0%

Geopolitical Rivals/China

0%

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