[Reading-hall-of-fame] voting on TIAA ballot

[David P. Reinking]

For those of you who, like me, received a ballot from Teachers Insurance and Annuity Association of American (TIAA), a recommendation for how to vote follows below. The recommendation comes from TIAA Divest, a committee within Third Act’s Educators Working Group (an activist organization for senior citizens).  It is part of their efforts to leverage large investors to move away from investing in fossil fuels.
My apologies to those of you who do not have retirement accounts with TIAA, especially those of you who live in other countries.  But, perhaps you have investments in other companies with similar opportunities to exert leverage in this direction.

TIAA clients are now receiving materials for the “2023 TIAA Election.” The candidates are vying for seats on the Board of Trustees.

All candidates are already members of the Board of Trustees. All were selected by the Board of Governors, who themselves actually elect the trustees and who only “seek your participation as a TIAA participant.” None of the candidates is a scientist or educator; none has provided any evidence of concern with the climate crisis or with changing TIAA’s destructive investment practices.

TIAA-Divest therefore encourages all clients to vote “AGAINST” the entire slate of Trustees. Since the Governors intend for this election to inform them of “participants’ views,” this is the way for you to register your deep discontentment with their $78 billion investment in fossil fuel holdings and their land grabs from Oregon to Brazil that are destroying communities and the environment.

We also encourage you to vote “NO” on question #2, the “Advisory Vote on TIAA's Executive Compensation.” TIAA Governors receive more than $300,000 per year in compensation, a figure grossly out of keeping with board-service norms.

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