Breaking News: Gubernatorial Action on SB 1458
Governor Rick Perry Signs SB 1458 into Law
Over 1.3 million TRS retired and active members can rest a little easier tonight knowing that Governor Rick Perry has officially signed SB 1458, the “TRS Actuarial Soundness Bill” into law.
Texas Retired Teacher Association (TRTA) members have been working on this legislation for a long time, and your efforts have paid off.
TRTA members sent over 115,000 emails in support of this legislation during the regular session. Tens of thousands of phone calls, and hundreds of personal visits to legislators have helped carry this legislation through to its final step and become law.
Your TRS fund will now be actuarially sound!
TRS is already working to implement the 3 percent cost of living increase for over 195,000 TRS retirees whose retirement date was August 31, 2004 or before. That programming could be done late this summer so that retirees will see the increase in their September annuity payment (received around the first of October 2013).
Those TRS retirees not receiving the annuity increase as part of this legislation should know that the fund’s improving actuarial condition will help pave the way for future increases for all retirees. TRTA will continue to fight for all TRS retirees to receive an increase in their annuity!
These actuarial soundness measures make your TRS Texas pension fund one of the healthiest, best funded, and most solid defined benefit plans in the country! The work done by TRTA, our friends in the Legislature, and our partners in the active educator community will have generational impact for the benefit of all current and future TRS retirees!
Now, let’s tell our story! Let your friends, former colleagues, and everyone know that TRTA fought for them this session. We did not give up! We have never given up! TRTA members have stood strong even in those years when it seemed this day may never come!
Your work, your dedication, your willingness to stand up and fight for this important legislation have paved the way for a better future for all retired public education employees.
While we know that the attacks on our fund have not died and that we will face major health care funding challenges next session, let’s all take a moment to thank our friends who made this possible and take the time to recognize what a great accomplishment this is for all TRS members.
Let’s also reflect on all those TRTA members who worked so hard to help us get to this moment and may no longer be with us to enjoy the victory. We have all been in this together for many years and those efforts have helped make your TRS fund actuarially sound!
On behalf of the TRTA Board of Directors and the TRTA staff, I want to thank every TRTA member, TRS retiree, active educator, legislator, agency staffer, friend, and TRTA supporter. Your support is appreciated more than we can say. Well done.
If you are not a TRTA member and want to join in our proven advocacy efforts to support all TRS retirees, please contact our office at 1.800.880.1650, or by email to firstname.lastname@example.org. We will be happy to answer any membership questions you may have.