Present Constitution provides that all assets, proceeds, or income of the state and statewide public retirement systems and all contributions and payments made to such system to provide for retirement and related benefits shall be held, invested as authorized by law, or disbursed as in trust for the exclusive purpose of providing such benefits, refunds, and administrative expenses under the management of the boards of trustees and shall not be encumbered for or diverted to any other purpose. Further provides that the accrued benefits of members of any state or statewide public retirement system shall not be diminished or impaired and future benefit provisions for members of the state and statewide public retirement systems shall only be altered by legislative enactment. Proposed Constitutional Amendment retains present law and clarifies that future benefits provisions for members of the state and statewide public retirement systems shall be altered only by legislative enactment. Proposed Constitutional Amendment provides that no benefit provision for any member of a state retirement system having an actuarial cost shall be approved by the legislature unless a funding source providing new or additional funds sufficient to pay all such actuarial cost within ten years of the effective date of the benefit provision is identified in such enactment. Further provides that this provision shall be implemented as provided by law.