Proxy Voting and Corporate Governance
Active State & local contract Michigan Awarded
- Contract number
- MA240000000087
- Awardee
- GLASS, LEWIS & CO., LLC
- Contracting organization
- Michigan Department of Treasury
Contract facts
- Cumulative value
- $78,862
- End date
- Points of contact
-
- Karl Borgquist borgquistk@michigan.gov (517) 230-8419
- Kyle Elzinga elzingak1@michigan.gov (517) 614-0956
Contract details come from michigan.gov. Updated .
About this contract
The Michigan Department of Treasury IDV provides comprehensive proxy voting and corporate governance advisory services designed to support the State of Michigan Investment Board's fiduciary responsibilities for the State of Michigan Retirement System. The contract encompasses proxy voting recommendation services, development and maintenance of a customized web-based voting platform, quarterly and annual research reports on proxy voting activities, and consulting services related to corporate governance issues and SEC proxy rule updates. Services extend to approximately 900 U.S. equity tickers and eight non-U.S. equity tickers within the portfolio, with additional custom research and reporting available upon request. The vehicle is specifically structured to support the retirement system needs of the Michigan Public School Employees' Retirement System, State Employees' Retirement System, Michigan State Police Retirement System, and Michigan Judges Retirement System.
Glass, Lewis & Co., LLC serves as the prime contractor for this IDV under the direction of the Michigan Department of Treasury. The contract period extends from December 1, 2023, through November 30, 2026, with three optional one-year renewal periods available at the State's discretion. This Michigan-specific contract carries an estimated three-year value of $78,861.62, with a base monthly fee of $1,744.88 for proxy voting services plus $375 monthly for voting history website access, supplemented by consulting and custom research services available at specified hourly rates. The contract requires 99.8% service availability and includes comprehensive support with response times ranging from one hour for critical issues to five business days for lower-priority matters.
Files
| File | Type | Posted |
|---|---|---|
| 240000000087.pdf |
Quick answers
Who holds contract MA240000000087?
Contract MA240000000087 was awarded to GLASS, LEWIS & CO., LLC by Michigan Department of Treasury on December 1, 2023.
How much is contract MA240000000087 worth?
Its cumulative value is $78,862.
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