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California Proposition 1, Investment of State Pension and Retirement Funds Amendment (1966)
| California Proposition 1 | |
|---|---|
 | |
| Election date November 8, 1966 | |
| Topic Pension | |
Status Approved | |
| Type Constitutional amendment | Origin State legislature |
California Proposition 1 was on the ballot as a legislatively referred constitutional amendment in California on November 8, 1966. It was approved.
A “yes” vote supported allowing the legislature to authorize the investment of up to 25% of state pension and retirement funds (except the funds of the Teachers' Retirement Fund) and establishing regulations for such investments. |
A “no” vote opposed allowing the legislature to authorize the investment of up to 25% of state pension and retirement funds (except the funds of the Teachers' Retirement Fund) and establishing regulations for such investments. |
Election results
|
California Proposition 1 |
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|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
3,279,258 | 59.64% | ||
| No | 2,219,383 | 40.36% | ||
Text of measure
Ballot title
The ballot title for Proposition 1 was as follows:
| “ | Public Retirement Funds | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Legislative Constitutional Amendment. Provides Legislature may authorize investment of moneys of and public pension or retirement fund, except Teachers' Retirement Fund, in stock or shares of any corporation or a diversified management; investment company; provided that not to exceed 25% of the assets of the fund may be so invested and there is compliance with specified requirements as to registration of the stock in an exchange, financial condition of the corporation, and the percentage of stock which may be acquired in anyone corporation. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the California Constitution
A two-thirds vote was needed in each chamber of the California State Legislature to refer the constitutional amendment to the ballot for voter consideration.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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