WHEREAS:

Pension funds invest trillions of dollars in capital assets and in U.S. corporations, owning 30 percent of all capital assets and a quarter of all corporate equity, and therefore represent a tremendous source of power in determining corporate behavior and, indirectly, in setting public policy; and

WHEREAS:

Public pension funds, including those that represent AFSCME members, represent one-third of all pension assets and include many of the largest and most influential pension funds in the country; and

WHEREAS:

Pension funds are the deferred wages of workers, invested by fund fiduciaries for the economic security of working people in retirement; and

WHEREAS:

Pension funds and the unions whose members they serve have become increasingly active in promoting better corporate governance, responsible conduct by owners of capital, and practices which contribute toward the long-term economic health and prosperity of our communities.

THEREFORE BE IT RESOLVED:

That AFSCME commit to increasing our representation on pension funds where AFSCME members are participants; and

BE IT FURTHER RESOLVED:

That AFSCME support the active involvement of the union's leaders and members as representatives on their pension fund boards, by promoting greater communication between the International Union, affiliates and AFSCME fund representatives; and

BE IT FURTHER RESOLVED:

That AFSCME coordinate activities with other unions involved in public pension funds; and

BE IT FINALLY RESOLVED:

That AFSCME develop and disseminate to affiliates model investment and proxy-voting guidelines, responsible contracting policies, and information on labor-friendly investment vehicles and fund professionals, in order to support concepts of long-term value and promote the well-being of pension fund participants as workers as well as beneficiaries.

SUBMITTED BY: INTERNATIONAL EXECUTIVE BOARD