By:  Whitmire                                         S.J.R. No. 31
       73R5030 GCH-F
                                  A JOINT RESOLUTION
    1-1  proposing a constitutional amendment relating to local public
    1-2  retirement systems.
    1-3        BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Article XVI, Section 67, of the Texas
    1-5  Constitution is amended by adding Subsection (f) to read as
    1-6  follows:
    1-7        (f)  Retirement Systems Not Belonging to a Statewide System.
    1-8  (1)  The board of trustees of a system or program that provides
    1-9  retirement and related disability and death benefits for public
   1-10  officers and employees and that does not participate in a statewide
   1-11  public retirement system shall:
   1-12                    (A)  administer the system or program of
   1-13  benefits;
   1-14                    (B)  hold the assets of the system or program for
   1-15  the exclusive purposes of providing benefits to participants and
   1-16  their beneficiaries and defraying reasonable expenses of
   1-17  administering the system or program; and
   1-18                    (C)  select legal counsel and an actuary and
   1-19  adopt sound actuarial assumptions to be used by the system or
   1-20  program.
   1-21              (2)  A change in the number, terms, method of
   1-22  selection, or method of removal of trustees of a system or program
   1-23  described by this subsection may not be made unless approved by at
   1-24  least a majority of the eligible members of the system or program
    2-1  voting at an election on the issue.  This requirement does not
    2-2  apply to the creation of a board of trustees for a new system or
    2-3  program that is not the successor to a previous system or program.
    2-4        SECTION 2.  This proposed constitutional amendment shall be
    2-5  submitted to the voters at an election to be held November 2, 1993.
    2-6  The ballot shall be printed to provide for voting for or against
    2-7  the proposition:  "The constitutional amendment to require the
    2-8  board of trustees of a local public retirement system to administer
    2-9  the system for the benefit of the system's members and
   2-10  beneficiaries and to require that changes in board structure be
   2-11  approved by the system's members."