Proposition Prop. 4 - For the constitutional amendment empowering the Legislature to revise the existing Teacher Retirement System and to broaden the benefits to employees of public schools, colleges, and universities supported wholly or partly by the State, authorizing that the State's contributions for such purposes shall equal contributions by such employees and providing that they do not exceed six per centum (6%) of the compensation paid each such employee by the State or school district or the sum of Five Hundred Four Dollars ($504.00) for each year for any such employee, regulating the eligibility of such employees for retirement benefits and prescribing the manner of investing money accruing to the retirement fund.
Outcome: AdoptedElection date: 11/06/1956
Votes for: 1,350,372
Votes against: 166,788
Article 3 :
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