BLAIR LEE III, Acting Governor

3047

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed Senate Bill 454.

This bill allows beneficiaries of the Employees',
Teachers', and State Police Retirement Systems to serve on
the Boards of Trustees of their respective systems and to
vote in the elections for members of the Boards of Trustees.

House Bill 859, which was enacted by the General
Assembly and signed by me on May 16, 1978, accomplishes the
same purpose.

Therefore it is unnecessary for me to sign Senate Bill
454.

Sincerely,
Blair Lee III
Acting Governor

Senate Bill No. 455 — Pensions - Asset Valuation

AN ACT concerning

Pensions — Asset Valuation

FOR the purpose of revising the method of asset valuation
used by the Boards of Trustees for actuarial purposes,
and further providing that generally accepted
accounting principles will continue to be followed
under applicable conditions.

May 29, 1978
Honorable Steny H. Hoyer
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President:

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed Senate Bill 455.

This bill revises the method of asset valuation used by
the Boards of Trustees of the several Retirement Systems and
provides that generally accepted accounting principles will
continue to be followed.

House Bill 860, which was enacted by the General
Assembly and signed by me on May 16, 1978, accomplishes the
same purpose.