CREF, which owns 1 percent of Disney shares outstanding, said the 35 percent support was the highest ever for such a measure targeting a major corporation.
CREF has pointed out that Disney's directors include Eisner's attorney Irwin Russell; architect Robert Stern, who designed Eisner's home; Reveta Bowers, principal of the elementary school Eisner's children attended; the Rev.
Certainly the New York Insurance Department and Legislature were more inclined to allow this type of experimental organization," he said of CREF.
TIAA-CREF did not offer another investment option to go with its CREF stock fund until 1988, when it introduced a money-market account.
The CREF Social Choice Account was among the first products to allow individual clients access to socially responsible investments in their retirement plans at its launch in 1990.
Based on assets under management among mutual funds and variable annuities that screen across multiple environmental, social and governance criteria (versus those that apply only product-specific screens such as alcohol and tobacco; among all mutual funds and variable annuity accounts categorized as "socially and environmentally screened," CREF Social Choice was the fourth largest).
This year is an important milestone for TIAA-CREF
as it marks the 60th anniversary since CREF