SJ 16 Constitutional amendment; governmental employees retirement system.
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Summary:
Constitutional amendment; governmental employees retirement system (first resolution). Requires the General Assembly to maintain a retirement system for state employees and employees of participating political subdivisions and school divisions. The funds of the retirement system shall be deemed separate and independent trust funds, shall be segregated from all other funds of the Commonwealth, and shall be invested and administered solely in the interests of the members and beneficiaries thereof. Neither the General Assembly nor any public officer, employee, or agency shall use or authorize the use of such trust funds for any purpose other than as provided in law for benefits, refunds, and administrative expenses, including but not limited to legislative oversight of the retirement system. The proposed amendment permits the investment of trust funds as authorized by law and subjects the retirement system to restrictions, terms, and conditions as may be prescribed by the General Assembly. In contrast to the current constitutional provision, the proposed amendment clearly establishes that the funds of the retirement system are held in trust for members and beneficiaries and, as such, cannot be appropriated, loaned, diverted, or in any way used by the General Assembly or specified others.

Full text:
01/14/94  Senate: Presented & ordered printed LD7907829  pdf
01/04/95  Senate: Introduced bill reprinted LD7907829  pdf
01/31/95  Senate: Committee substitute printed LD3228829-S1  pdf
03/13/95  Senate: Bill text as passed Senate and House (SJ16ER)  pdf
04/04/95  Governor: Acts of Assembly Chapter text (CHAP0708)  pdf

Status:
01/14/94  Senate: Presented & ordered printed LD7907829
01/14/94  Senate: Referred to Committee on Privileges and Elections
02/17/94  Senate: Continued to 1995 in P. & E. (13-Y 0-N)
12/15/94  Senate: Reported from P. & E. with amendment (12-Y 0-N)
12/15/94  Senate: Rereferred to Finance
01/04/95  Senate: Introduced bill reprinted LD7907829
01/31/95  Senate: Reported from Finance with substitute (15-Y 0-N)
01/31/95  Senate: Committee substitute printed LD3228829-S1
02/01/95  Senate: Rules suspended (40-Y 0-N)
02/01/95  Senate: VOTE: SUSPEND THE RULES (40-Y 0-N)
02/01/95  Senate: Reading waived
02/02/95  Senate: Passed by for the day
02/06/95  Senate: Passed by for the day
02/07/95  Senate: Read second time
02/07/95  Senate: Reading of substitute waived
02/07/95  Senate: Committee substitute agreed to LD3228829-S1
02/07/95  Senate: Engrossed by Senate - comm. sub. LD3228829-S1
02/07/95  Senate: Rules suspended (39-Y 0-N)
02/07/95  Senate: VOTE: SUSPEND THE RULES (39-Y 0-N)
02/07/95  Senate: Reading waived
02/07/95  Senate: Agreed to by Senate (40-Y 0-N)
02/07/95  Senate: VOTE: PASSAGE (40-Y 0-N)
02/07/95  Senate: Communicated to House
02/08/95  House: Placed on Calendar
02/09/95  House: Referred to Committee on Rules
02/14/95  House: Reported from Rules (10-Y 0-N)
02/16/95  House: Agreed to by House (97-Y 0-N)
02/16/95  House: VOTE: ADOPTION (97-Y 0-N)
03/13/95  Senate: Bill text as passed Senate and House (SJ16ER)
03/13/95  House: Signed by Speaker
03/14/95  Senate: Signed by President
04/03/95  House: Assigned Chapter 708 (effective 7/1/95)
04/04/95  Governor: Acts of Assembly Chapter text (CHAP0708)