HomeMy WebLinkAboutR-1976-4
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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
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J. J. Meza, Mayor
ATTEST:
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City Cl k
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City Attorney ,