California Proposition 7, Investment of Public Pensions and Retirements Funds Amendment (1964)

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California Proposition 7
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Election date
November 3, 1964
Topic
Pension
Status
Defeatedd Defeated
Type
Constitutional amendment		Origin
State legislature

California Proposition 7 was on the ballot as a legislatively referred constitutional amendment in California on November 3, 1964. It was defeated.

A “yes” vote supported allowing the legislature to authorize the investment of public pensions and retirement funds (except the Teachers Retirement Fund) in stocks, shares, or other obligations in corporations.

A “no” vote opposed allowing the legislature to authorize the investment of public pensions and retirement funds (except the Teachers Retirement Fund) in stocks, shares, or other obligations in corporations.


Election results

California Proposition 7

Result Votes Percentage
Yes 2,493,667 41.97%

Defeated No

3,447,832 58.03%
Results are officially certified.
Source


Text of measure

Ballot title

The ballot title for Proposition 7 was as follows:

“Public Retirement Funds”

Ballot summary

The ballot summary for this measure was:

“ Assembly Constitutional Amendment No. 13. Provides Legislature may authorize investment of moneys of any public pension or retirement fund, except Teachers Retirement Fund, in stocks, shares or other obligation of any 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

1964 Measures

California

News and analysis


External links

Footnotes

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