| Text of Section 1:
Public Retirement Systems
A. Public retirement systems shall be funded with contributions and
investment earnings using actuarial methods and assumptions that are consistent with
generally accepted actuarial standards.
B. The assets of public retirement systems, including investment earnings and
contributions, are separate and independent trust funds and shall be invested,
administered and distributed as determined by law solely in the interests of the members
and beneficiaries of the public retirement systems.
C. Membership in a public retirement system is a contractual relationship that is subject
to article II, section 25, and public retirement system benefits shall not be diminished or