Treasurer Russell’s Statement On SEC's Move To Rescind Shareholder Proposal Rule
09/16/2026
HARTFORD, CT — Treasurer Erick Russell today released the following statement regarding the Securities and Exchange Commission’s proposal to rescind Rule 14a-8, a longstanding framework that gives shareholders an established avenue to raise concerns with fellow investors and corporate boards.
“Shareholder engagement is an important part of our fiduciary responsibility to safeguard and grow the long-term value of Connecticut’s pension funds. By making it more difficult to raise financially material risks and governance concerns, this proposal threatens to significantly weaken one of the most reliable tools shareholders have to hold companies and their management teams accountable,” said Treasurer Russell.
“The CRPTF (Connecticut Retirement Plans and Trust Funds) is a long-term investor. Prudent shareholder engagement helps protect the long-term interests of shareholders, including the pension beneficiaries we serve,” he added. “I will continue to use every tool available to protect the retirement security of Connecticut’s teachers and state workers and I will look for honest American companies to continue accepting shareholder proposals and including them in their proxy materials.”
About the Office of the Treasurer
The Office of the Treasurer is charged with safeguarding Connecticut’s financial resources through prudent cash management and debt management, with the State Treasurer serving as principal fiduciary for six state pension and thirteen state trust funds. Additionally, the Office enhances the state’s fiscal stability through programs promoting financial literacy and college savings, and it leverages business partnerships to support the advancement of Connecticut’s social and policy priorities, including combating gun violence and protecting our environment. The Office of the Treasurer is led by State Treasurer Erick Russell. To learn more, visit portal.ct.gov/ott.
Contact: Brett Cody
brett.cody@ct.gov | (959) 529-2468
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