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Calpers Urged to Reject Proposal to Limit Corporate Politicking

Business groups appealed to the California Public Employees’ Retirement System not to use its $218 billion power as the largest U.S. public pension to push the boards of corporations in which it invests to vote on political donations and disclose them annually.

A coalition led by the California Chamber of Commerce, the state’s biggest business group, said the proposed policy would handcuff publicly traded companies in the political arena.