In a large saucepan, combine the water, split peas, turkey and bay leaf and bring to a boil. Reduce the heat to low and simmer, stirring occasionally, until the peas have dissolved and the stew has thickened, about 1 hour. Discard the bay leaf. Transfer the turkey to a large plate and when cool enough to handle, remove all of the meat and cut it into bite-size pieces. Discard the bones and skin. Add the turkey meat back to the stew.