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. . . '. e e RESOLUTION NO. 76-4 WHEREAS, the Employees' Retirement Income Security Act of 1974 for a Congressional study of public retirement plans with recommendations to be made by December 31, 1976, and WHEREAS, the City of La Porte, Texas, the Municipal Finance Officers Association of the United States and Canada, together with other national organizations comprised of public employees and their retirement plans, were requested and offered to provide input in the study through supplying statistical and other information relative to public plans to Congress in its effort to develop recommendations, and WHEREAS, HR 9155 was introduced as a skeleton bill in order to have a "vehicle" for hearings on the matters covered under ERISA, which hearings were in fact held and at which many public employee groups and other state and local government officials and organizations testified, and WHEREAS, HR 13040 was introduced on April 5, 1976, without notifying the groups that had been working with Congress, without completion of the agreed-upon study, without including the Federal public employees, without consideration of the cost to public retir~nent plans as compared to any value that might be received, and without any substantial experience derived from the problems that confronted private plans under ERISA. NOW, THEREFORE, BE IT RESOLVED, the City of La Porte, Texas, the Municipal Finance Officers Association of the United States and Canada, and other national organizations hereby vigorously opposes the adoption of HR 13040 at this time and in the form as drafted because of inconclusive evidence of the need for such legislation,. because of discrimination in not covering federal employees as well as state and local employees, because of total lack of concern as to the legality of infringing on the state and local governments rights to maintain and control their own retirement plans, and because of the premature introduction of federal law for the regulation of state and local employee retirement systems prior to completion of the Congressional study mandated by the 1974 ERISA legislation. BE IF FURTHER RESOLVED, that the City of La Porte, Texas, the Municipal Finance Officers Association of the United States and Canada, and either national organizations hereby requests an opportunity to testify at the appropriate committee hearings to be set on HR 13040 and encourages all other concerned public employee retirement organizations also to seek an opportunity to testify in opposition to said bill. PASSED AND APPROVED, this the 8th day of September, 1976. CITY OF LA PORTE ~.~- J. J. Meza, Mayor ATTEST: ';O-VMif'c; -' ~ City Cl k ~: ttJ~ City Attorney ,