The five pension funds of the New York City Retirement Systems have joined in offering a shareholder proposal asking Chipotle Mexican Grill Inc. to adopt and publicize a workers' rights policy that includes upholding collective bargaining.
The shareholder proposal was announced Friday by Brad Lander, the city comptroller and fiduciary of the five pension funds within the $248.2 billion system.
The shareholder proposal will be presented at Chipotle's annual meeting, which hasn't been scheduled yet.
"Protecting workers' fundamental rights to organize is not just good ethics, it's good business," Mr. Lander said in a Friday news release. "As long-term shareholders we must hold the board accountable for its oversight of these issues."
The New York pension funds owned an aggregate of $80.46 million in Chipotle stock as of Jan. 31.