FORTY-THIRD LEGISLATURE             SJR 6/a
                        SECOND SESSION, 1998
  
  
                                                 February 9, 1998
  
  Mr. President:
  
      Your JUDICIARY COMMITTEE, to whom has been referred
  
                     SENATE JOINT RESOLUTION 6
  
  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".
      
  
  
  
  
  
  
                               Respectfully submitted,
  
  
  
                               __________________________________
                               Cisco McSorley, Vice-Chairman 
  
  
  
  Adopted_______________________   Not Adopted_______________________
            (Chief Clerk)                          (Chief Clerk)
  
  
                    Date ________________________
  
  
  The roll call vote was  5  For  0  Against
          Yes:    5
          No:     0
  Excused: Payne, Tsosie, Vernon
          Absent: None
  
  
  SJR06JU1                                              .123138.1