CalPERS to Seek Majority Vote for Corporate Directors

Pension Fund to use Public Company Accounting Oversight Board Auditor Independence Proposals as Guidelines for Proxy Votes

SACRAMENTO, Calif.--(BUSINESS WIRE)--March 14, 2005--The California Public Employees' Retirement System (CalPERS) today embarked on a new frontier in its corporate governance program.
The CalPERS Board adopted a three-pronged plan to advocate majority vote election procedures for corporate directors.

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