(Bloomberg) -- Pennsylvania Governor Tom Wolf called for selling $3 billion of bonds to bolster the state’s public-employee retirement system as part of his first budget.

Wolf, a Democrat who took office in January, said Tuesday that Pennsylvania should also boost the profits of the state-run retail and wholesale liquor business, which provides $550 million a year in revenue. He said the extra funds could be used to help schools cut their pension payments and pay off the bonds, according to a budget briefing.

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“With these and other improvements, we are going to save taxpayers nearly $1.3 billion over the next five years while creating savings of $10 billion in the unfunded liability,” Wolf, 66, said during a speech in Harrisburg.