New York state Comptroller Thomas P. DiNapoli, as trustee of the $126 billion New York State Common Retirement Fund, announced today that he had submitted a resolution to American International Group Inc. calling for shareholders to vote on the company’s political spending.
Robert Whalen, a spokesman for Mr. DiNapoli, said in an e-mail response to questions that the proposal was filed Feb. 5. Mr. Whalen said the resolution was filed in time to be considered at AIG’s 2010 annual meeting.
AIG spokesman Mark Herr wrote in an e-mail that a date for the meeting hadn’t been set. He said the company hasn’t made any political contributions since September 2008. He provided an excerpt from AIG’s ethics policy, which took effect Nov. 1, 2008, and which says in part: “All federal lobbying activities by AIG or its representatives related to advocacy on legislation, as well as political contributions on behalf of AIG, and including the operation of AIG’s political action committee, are suspended.”
Mr. DiNapoli’s resolution calls for AIG shareholders to vote on ratifying the company’s political spending program for the prior year, according to a news release. Even though the resolution would be non-binding, the news release added, it “would provide disclosure to investors of political spending and shareholder feedback to board members.”