1620                             Joint Resolutions

Whereas, This relatively new and very commodious airfield now
is served by a dual highway, thereby offering fast and convenient
access to the heart of the City of Washington; and

Whereas, The use of Friendship International Airport by the air-
lines serving the District of Columbia would take much of the over-
loaded volume of traffic from National Airport and would contribute
to the safety, time and convenience of all passengers using these
modern facilities; now, therefore, be it

Resolved by the General Assembly of Maryland, That the Civil
Aeronautics Board and the Congress of the United States be requested
to give sincere and complete consideration to the wonderful facilities
offered for air travel by the Friendship International Airport in
nearby Maryland; and be it further

Resolved, That the Secretary of State of Maryland be directed to
send copies of this resolution under the Great Seal of the State of
Maryland to the Vice President of the United States, the Speaker of
the House of Representatives in the Congress of the United States,
the Civil Aeronautics Board, and each Member of the Maryland Dele-
gation in the Congress of the United States.

Approved March 11, 1957.

No. 10

(Senate Joint Resolution 17)

Senate Joint Resolution requesting a thorough study of the admin-
istration and structure of the retirement programs for State em-
ployees, teachers and State Police, to be made by the Committee
on Taxation and Fiscal Matters of the Legislative Council.

Whereas, The financial reports of the Employees' Retirement Sys-
tem of the State of Maryland and the Teachers' Retirement System
for the 1956 fiscal year state that an interest rate of four per cent
was used for purposes of the actuarial valuation of the funds required
by law as a basis for determining the State's contributions to the
funds; and the reports further state "while the interest earnings
continue to be below the regular rate of 4 per cent, the deficit on this
account is provided for in the annual appropriation;" and

Whereas, For the 1956 fiscal year the Actuary of the Funds has
calculated that the interest deficiency of the funds amounted to
$1,515,800, which amount constitutes a considerable burden to the
taxpayers of the State; and

Whereas, The investments in these funds exceed $100,000,000 but
the average earnings on these investments yielded only 2.85%

Explanation: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.