FORTY-THIRD LEGISLATURE
                        SECOND SESSION, 1998
  
  
                                                February 17, 1998
  
  
  Mr. Speaker:
  
       Your JUDICIARY COMMITTEE, to whom has been referred
  
                  HOUSE JOINT RESOLUTION 11
  
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
       1.  On page 1, lines 12 and 13, strike "TRUST FUNDS CREATED
  FOR PUBLIC EMPLOYEE RETIREMENT" and insert in lieu thereof
  "RETIREMENT TRUST FUNDS, CREATED FOR PUBLIC EMPLOYEES AND
  EMPLOYEES OF PUBLIC SCHOOLS, COLLEGES AND UNIVERSITIES,".
  
       2.  On page 2, line 16, after the period strike the remainder
  of the line and all of lines 17 through 22.
  
       3.  On page 2, lines 23 through 25, and on page 3, lines 1
  through 13, strike Subsection C in its entirety and insert in lieu
  thereof:
  
            "C.  A retirement board shall have the sole and
  exclusive power and authority to adopt actuarial assumptions for
  its system based upon the recommendations made by an independent
  actuary with whom it contracts.  The legislature shall not enact
  any law that increases the benefits paid by the system in any
  manner or changes the funding formula for a retirement plan unless
  adequate funding is provided.".
  
       4.  On page 3, line 22, strike "benefits" and insert in lieu
  thereof "plans".,
  
  and thence referred to the APPROPRIATIONS AND FINANCE
  COMMITTEE.
  
                                Respectfully submitted,
  
  
  
                                <u>                                 
                                </u>                             Thomas P. Foy, Chairman
  
  
                                     Adopted <u>                      </u>   Not Adopted <u>                        </u>
            (Chief Clerk)                      (Chief Clerk)
  
                       Date <u>               </u>
  
  The roll call vote was<u> 9 </u> For<u> 0 </u> Against
  Yes:      9
            Excused:  Carpenter, Garcia, Larra¤aga, Sanchez
            Absent:   None
  
  
  .123140.1
  G:\BILLTEXT\AMEND_98\HJR11JC1