TRTA Legislative Update: Keep TRS a Defined Benefit Plan
TRTA Week in Review Public Pension Funds Still Under Attack “Texas Pension funds are in better shape than anywhere else….” This is a recurring sentiment that we are hearing about your TRS pension trust fund as the legislative process revs up. What is also revving up is the attitude that a defined benefit traditional […]
Senate Release Preliminary
TRTA Members Deliver a Strong Message Texas Senate Added to Outreach Campaign In just three days, over 4,000 TRTA members emailed their Texas House Representatives asking them to restore the deep cuts made to the TRS pension trust fund and the TRS-Care health insurance program. Early this week, the Texas Senate released its preliminary budget […]
TRTA Action Alert: January 20, 2011
Budget Proposal Slashes TRS Funding TRS-Care Premium Increase Possible The Texas House released its budget proposal for the coming biennium. This proposal cuts billions from areas such as health and human services, education, and other government services. The Teacher Retirement System of Texas (TRS) did not escape the early budget cutting. The House […]
Legislative Budget Board Report on State Budget
TRS Benefit Reductions for Future, No Help in the Present The Texas Legislative Budget Board (LBB) has released recommendations on how to address the state budget deficit. The entire report can be downloaded by clicking here. LBB’s report on the Teacher Retirement System of Texas (TRS) and the Employee Retirement System of Texas (ERS) indicates […]
TRS Executive Director Search Update
Last Thursday (January 13), the TRS executive director search committee met to advance names for interview for the TRS Executive Director position. Since the last update on this issue, three of the top five candidates set to interview for the Executive Director position withdrew their names from consideration. The selection committee has now advanced three […]
Budget Proposal will Likely Cut TRS Funding
TRS Defined Benefit Plan Under Fire Legislators are struggling with how to address the projected $20 billion plus budget deficit. State Representative Jim Pitts (R-District 10) has said the state budget bill will be presented for the first time next Tuesday (January 18), and the House will have a chance to discuss the proposal […]
First Day of the 82nd Legislative Session
Start of 82nd Legislative Session is Like the First Day of School Now that we are in session, it’s time to get down to business Education Process is the Core of TRTA Action Just as the 82nd Legislative Session begins in Austin, the education process that is vital to TRTA’s success must continue. The reality […]
Letter from TRS Required by Federal Law
The recently passed Patient Protection and Portability Act, or the new federal health care initiative, is providing some reimbursement to the TRS-Care program. Approximately $47 million has been paid to the Teacher Retirement System of Texas (TRS) as the plan sponsor for the TRS-Care program. When the federal health insurance plan was passed, a special […]
TRS to Pay Employee Bonuses
$9.7 Million for Investment Staff The Teacher Retirement System of Texas (TRS) announced today that its investment performance exceeded benchmark expectations to the extent necessary for investment staff to receive their contractual bonus pay. This includes bonus payouts for fiscal years 2009 and 2010. The TRS pension fund earned 12.57 percent for the Plan Year […]
Senate State Affairs Committee Gets Update on TRS
TRTA Testifies on Issues that Matter to You The Senate State Affairs Committee is charged with oversight of the Teacher Retirement System of Texas (TRS). Yesterday the committee held a hearing on the status of the pension and health insurance trust funds. Senator Robert Duncan, Chairman of the Senate State Affairs Committee, was unable to […]