Texas Proposition 5, Establish Board of Trustees and Investment Authority for Teacher Retirement System Amendment (1965)
| Texas Proposition 5 | |
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| Election date |
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| Topic Administration of government and Public employee retirement funds |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Texas Proposition 5 was on the ballot as a legislatively referred constitutional amendment in Texas on November 2, 1965. It was approved.
A "yes" vote supported this amendment to establish the Teacher Retirement System of Texas as a state agency and authorize a board of trustees to oversee the investment of the fund. |
A "no" vote opposed this amendment to establish the Teacher Retirement System of Texas as a state agency and authorize a board of trustees to oversee the investment of the fund, thereby maintaining that the Board of Regents of the University of Texas has investment authority over the system. |
Election results
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Texas Proposition 5 |
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| Result | Votes | Percentage | ||
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332,431 | 68.39% | ||
| No | 153,667 | 31.61% | ||
Text of measure
Ballot title
The ballot title for Proposition 5 was as follows:
| “ | Proposing an amendment to the Constitution of Texas so as to create as an agency of the State of Texas the Teacher Retirement System of Texas, vesting the general administration and responsibility of the proper operation of said system in a state board of trustees to be known as the State Board of Trustees of the Teacher Retirement System of Texas, authorizing said Board to invest assets of said system in various obligations and subjects of investment, subject to certain restrictions stated therein and such other restrictions as may hereafter be provided by law. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Texas Constitution
A two-thirds vote was needed in each chamber of the Texas State Legislature to refer the constitutional amendment to the ballot for voter consideration.
The constitutional amendment was introduced into the Texas State Legislature as Senate Joint Resolution 29 during the 59th regular legislative session in 1965.[1]
See also
External links
Footnotes
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State of Texas Austin (capital) |
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