West Virginia Proposal 1, the Pension Bond Amendment (June 2005)
Proposal 1, if it had been approved, would have amended the West Virginia Constitution to allow the State of West Virginia to issue $5.5 billion to "help provide for the fiscal soundness of the State Teachers Retirement System, the Judges' Retirement System and the Public Safety Death, Disability and Retirement System."
Text of measure
The language that appeared on the ballot:
- "To amend the state Constitution to permit the issuance and sale of additional state general obligation bonds not exceeding five billion five hundred million dollars to help provide for the fiscal soundness of the State Teachers Retirement System, the Judges' Retirement System and the Public Safety Death, Disability and Retirement System. These additional state general obligation bonds will help the state to fund the unfunded actuarial accrued liabilities of these systems."
State of West Virginia
|State executive officers||
Governor | Lieutenant Governor | Attorney General | Secretary of State | Treasurer | State Auditor | Superintendent of Schools | Commissioner of Insurance | Commissioner of Agriculture | Director of Natural Resources | Commissioner of Labor | Chairman of Public Service Commission |