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Legislative Updates

Legislative Update No. 53, Session 80
By Tim Lee, Executive DirectorPrinter Friendly ||| Print as PDF

May 27, 2007

Today is the Day!

 

SB 1846 MUST Be Passed

 

The bill that has gone through so many different iterations and revisions has finally been agreed to by a Legislative conference committee.  The bill is far from perfect, but if retired educators want a 13th check and an actuarially sound retirement system, THIS BILL MUST PASS!!

 

The conference committee agreed to several very different, but acceptable changes.  One of the changes that TRTA will definitely have to ensure is followed through is that the TRS Board of Trustees must determine if the fund is able to provide a 13th month check to retirees in September 2007.  The language does allow the retirement system to delay that payment, but only if the fund would not be actuarially sound if, after it paid the check, the unfunded liability would exceed a 31-year amortization period.

 

In addition, the legislation does NOT automatically increase the active teacher contribution to 6.58%, but does authorize the TRS Board of Trustees to make that change IF they determine that raising that contribution would make the fund sound and allow the authorization of the 13th check.

 

This legislative solution is certainly open ended and a bit ambiguous in nature.  The major components of what retired public educators need for an actuarially sound system and a 13th check, though, is included in this proposal.

 

Bottom line: This is the last bill, on the last two days of session that MUST pass if retirees have any hope of getting a 13th check or waiting another two years with nothing from the Legislature.

 

They need to hear from YOU! Call or Email your Texas Senate and House Members.

 

The Capitol switchboard is CLOSED—that means our toll-free Contact your Legislator Hotline will not work on Sunday and maybe not on Monday (Memorial Day).  Legislators’ and their staff are working. 

 

You MUST CALL THEIR CAPITOL OFFICE. 

 

For a list of Texas Senate Members, CLICK THE LINK BELOW.

 

http://www.senate.state.tx.us/75r/Senate/Members.htm

 

For a list of Texas House Members, CLICK THE LINK BELOW.

 

http://www.house.state.tx.us/members/welcome.php

 

 

Please call or email these members today.  Only a strong communications campaign is likely to ensure that this bill will pass.

 

Ask your Senator and your Representative to support the conference committee report on SB 1846! Time is running out!!

 

Please send your questions or comments to tim@trta.org.

 

THANK YOU FOR ALL YOUR EFFORTS!

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