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New Mexico Amendment 4 (1998)
New Mexico Amendment 4 prohibited the expenditure or encumbrance of retirement trust funds, created for public employees and employees of public schools, colleges and universities, for any purpose except for the sole and exclusive benefit of the trust beneficiaries. It was on the November 3, 1998 election ballot in New Mexico. It passed, with 77% of voters in favor.
This measure is a legislatively-referred constitutional amendment.
Text of measure
The language that appeared on the ballot:
Proposes to amend the constitution to prohibit the expenditure or encumbrance of retirement trust funds, created for public employees and employees of public schools, colleges and universities, for any purpose except for the sole and exclusive benefit of the trust beneficiaries; provides for the administration of the trust funds; affirms certain property rights.
State of New Mexico
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