This joint resolution proposes an amendment to Article 20 of the New Mexico Constitution, aimed at safeguarding the trust funds established for public employees' retiree health care. The amendment stipulates that all funds related to the retiree health care system must be exclusively used for the benefit of the beneficiaries, which include members and retirees. It prohibits any diversion or appropriation of these funds for purposes outside of their intended use, ensuring that expenditures are limited to the administration of the health care system and the benefits of the trust fund beneficiaries.

Additionally, the resolution designates the board of the public employees retiree health care system as the trustees responsible for the administration and investment of the trust fund. The board is granted the authority to adopt actuarial assumptions based on independent recommendations, and it affirms that members who meet service requirements will acquire vested property rights protected by due process. The proposed amendment will be presented to the public for approval or rejection in the next general election or a special election called for that purpose.