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                                           HOUSE JOINT RESOLUTION NO. 27

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State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Barnes, B. Williams, Sanders, Fuhrman, Sommers, Isaacson, Nealey, Patrick, Miller and Thomas

Read first time 2/8/85 and referred to Committee on Ways & Means.

BE IT RESOLVED, BY THE SENATE AND HOUSE OF REPRESENTATIVES OF THE STATE OF WASHINGTON, IN LEGISLATIVE SESSION ASSEMBLED:

          THAT, At the next general election to be held in this state there shall be submitted to the qualified voters of the state for their approval and ratification, or rejection, an amendment to the Constitution of the state of Washington by adding a new article to read as follows:

Article..., section 1.             The state shall insure that each state-managed retirement system is provided with assets equal in value to the present value of the accrued benefits under the retirement  system.  The legislature shall by statute establish and fund a plan to ensure that this duty is fully performed not later than June 30, 2025, and thereafter maintained.  The plan shall provide that the increase in assets be made at a uniform rate, insofar as possible, per year.  The funding for any year may be delayed by a favorable vote in that year of two-thirds of the members of each house of the legislature.

          BE IT FURTHER RESOLVED, That the secretary of state shall cause notice of the foregoing constitutional amendment to be published at least four times during the four weeks next preceding the election in every legal newspaper in the state.