Proxy Voting

The ERS Board of Trustees recognizes that proxy voting powers are an asset of ERS, are a fiduciary responsibility, and must be exercised for the exclusive benefit of participants of ERS. Search ERS' voting history over the last 12 months.

ERS supports good corporate governance structures and practices, including:

• Alignment of executive compensation with long-term shareholder value creation;
• Board responsiveness and accountability to shareholders;
• Board independence; and
• Director competence and transparency on governance practices.

Furthermore, ERS opposes takeover protections that entrench management and reduce shareholders' rights.

A firm commitment to promoting robust corporate governance is an important element of a broader strategy to protect the economic interests of ERS participants.

For information about these principles, please review the ERS Proxy Voting Policy.