House Committee on Pensions & Investments 
         75th Legislature 
         December 2, 1997 
         9:00 a.m.  
         Capitol Extension, E2.010 
          
         Pursuant to a notice posted on November 18, 1997, the House  
         Committee on Pensions & Investments met in a public hearing  
         and was called to order by the Chair, Representative Barry  
         Telford at 9:13 a.m. 
          
         The roll was answered as follows:   
          
         Present:  Representatives Telford; Woolley; Goolsby; Rangel;  
                   Sadler; Serna; Tillery; Williams (8). 
          
         Absent:   Representative Berlanga (1). 
          
         A quorum was present. 
          
         The Chair made opening remarks regarding the interim charges  
         and the subcommittee assignments given. 
          
         The Chair recognized the Teacher Retirement System to give  
         their presentation on the most recent actuarial report, the  
         DROP Program and customer service relations. 
          
         Discussion followed. 
          
         The Chair recognized the Employees Retirement System to give  
         their presentation on the insurance funding shortfall  
         projections. 
          
         Discussion followed. 
          
         The Chair named a subcommittee to further study the Employees  
         Retirement System insurance funding issue.  The subcommittee  
         consists of the following members: 
          
                              Rep. Tillery - Chair 
                                  Rep. Woolley 
                                  Rep. Goolsby 
                                   Rep. Rangel 
          
         At 10:51 a.m., on the motion of the chair and without  
         objection, the meeting was adjourned subject to the call of  
         the chair.   
          
         ______________________ 
         Rep. Barry Telford, Chair 
          
         ______________________ 
         Sherri Walker, Clerk