HBA-RBT H.C.R. 125 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.C.R. 125
By: Isett
Pensions and Investments
3/31/1999
Introduced



BACKGROUND AND PURPOSE 

Some analysts believe that Social Security may not survive in its present
form.  The White House has estimated that the Social Security Trust Fund
will be exhausted in the year 2029, and that payroll contributions will
only cover 75 percent of benefits at that time.  Some feel that individuals
may be forced to contribute more money and work more years in an attempt to
correct the problem. 

H.C.R. 124 petitions the United States Congress to allow Texas to opt out
of the Social Security system and implement an alternative retirement
program. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

H.C.R. 125 respectfully requests the Congress of the United States to amend
federal law to allow Texas and other states to obtain waivers to permit
their implementation of alternatives to Social Security.    Provides that
the Texas secretary of state forward official copies of this resolution to
the president of the United States, to the speaker of the house of
representatives and the president of the senate of the United States
Congress, and to all the members of the Texas delegation to the congress
with the request that this resolution be officially entered in the
Congressional Record as a memorial to the Congress of the United States of
America.