Agency Issues Corporate Governance RFI
Responses due by December 19
The Investment Division of the Maryland State Retirement Agency (SRA) has issued a Request for Information (RFI) from interested firms to provide various Corporate Governance Services. Specifically, the RFI seeks one or more firms to provide Corporate Governance Research and Proxy Services; Iran/Sudan Research Services; and Iran/Sudan Engagement Services.
The RFI states, “The Board of Trustees of the System, through its Corporate Governance Committee, is committed to actively, and prudently, addressing poor corporate governance practices or regulatory constructs, and otherwise responding to issues affecting the integrity of the capital markets and market participants, utilizing the tools and method available to proponents of good corporate governance.”
The Agency is seeking a cost-effective corporate governance research and proxy voting solution that provides the System with a turn-key proxy voting service and robust research platform.
The Iran/Sudan Divestment Act, enacted in 2008, requires the Board of Trustees to also review its investments to determine if any accounts are invested in companies doing business in Iran or Sudan, to engage with those companies that are, and to divest itself of any company not willing to stop doing so, unless the Board of Trustees determines, in good faith, that the action is consistent with its fiduciary responsibilities.
Responses to the RFI are due by 4:00 p.m. on December 19, 2011. The RFI has been posted to the agency’s website.
Michael D. Golden
The Maryland State Retirement and Pension System is charged with the fiduciary responsibility for properly administering the retirement and pension allowances of 116,000 retirees and beneficiaries as well as the future benefits for over 251,500 active participating members. These groups include state government employees, teachers, law enforcement personnel, legislators, judges and local government employees and fire fighters whose employers have elected to participate in the system.