1976-09-08 Regular Meeting - Laserfiche WebLink

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R~?.I:TI~"? A?~0~'TFD RY THE ROA• OF TPLTSTFF,S OF ~FXA.S °1U:vICIPAL PF ~ IPI''_'•`r'"TT SYST~~,1~' June '?6. 1976 • t,THEREAS, HR 13040 assumes that the regulation and control of retirement plans and programs created and operated by the several states for their employees and those of their political subdivisions is a proper federal function; and WHEREAS, HR 13040 assumes that because there may be some such•public programs that are inadequately funded or administered, all should be sub- jected to scrutiny and regulation by employees of federal boards and. bureaus; and WI-IEREAS, HR 1304~J proposes to subject all public retire:~ent ar.d ben- efit plans to many of the costly and burdensome reporting and disclosure requirements similar to those now imposed on private plans by ERISA, and is but the initial step leading to full regulation and control; and t•?HEREAS, the provision of retirement benefits, is a function of the employment relationship existing between the state and its employees, and is an area into which federal intrusion is unwise, if indeed it is not an unconstitutional invasion of the powers reserved to the States; now there- fore, BE IT RESOLVED BY THE BOARD OF TR.USTFES OF TEXAS I~TUNICIPAL RETIREMENT SYSTEP•1: 1. That this Board hereby expresses its opposition to adoption of • HR 13040 because: (a) it is an unwarranted intrusion into the employment relation- ship between the several States, their subdivisions and their employees; (b) there is at any event no demonstrated need for such legisla- tion, and (c) it has not even been established to this date that the federal regulation and control presently exercised over private plans has a beneficial effect that is greater than its disruptive force. 2. That a copy of this resolution be forwarded to the governing bodies of each of the 312 cities of Texas which are participating munici- palities o:E this System for their consideration and action; and 3. That copies of this resolution be sent to the President of the United States, to the Honorable John Tower and to the Honorable Lloyd Bentsen, United States Senators from Texas; to each member of the Texas delegation to the House of Representatives of the Congress of the Ur_ited States; to the Honorable Dolph Briscoe, Governor of Texas; and to each member of the Senate and. of the House of Pepresentatives of the Legislature of Texas. //,,// • ~ ~~ ~~<~ ~. qo! (rarr~Brp~g ~ BOAR.D OF TRtTSTF.ES)