Aetna Inc. shareholders Friday rejected a New York State Common Retirement Fund proposal calling for the company to disclose spending on political lobbying, said Mark T. Bertolini, Aetna chairman and CEO, at the company’s annual meeting, broadcast via webcast.
Pension funds lined up on different sides of the $181.7 billion Albany-based pension fund’s proposal.
The $191.2 billion California State Teachers’ Retirement System, West Sacramento, and the C$154.4 billion ($127 billion) Ontario Teachers’ Pension Plan, Toronto, voted against the proposal, while the $305.3 billion California Public Employees’ Retirement System, Sacramento, C$239 billion Canada Pension Plan Investment Board, Toronto, and $185.1 billion Florida State Board of Administration, Tallahassee, voted in support of the proposal, according to their proxy-voting disclosures.
Proxy-voting advisory firms took different sides. Institutional Shareholder Services recommended clients vote in favor of the proposal, while Glass Lewis & Co. recommended clients vote against it.
The New York pension fund holds 1.06 million Aetna shares, amounting to 0.3% of the stock and valued at $120.1 million as of Friday.
Mr. Bertolini did not provide vote tallies.
Matthew Clyburn, Aetna communications consultant, said Aetna will make available full voting results next week.
