Senate Finance Committee Addresses TRS Funding
TRTA Calls on Senate to Restore Funding Cuts Senators Respond with Comments in Support of Higher TRS Funding TRTA testified in Texas Senate Finance Committee about the proposed TRS budget cuts. As TRTA members know, both Senate and House versions of the Texas legislative budget proposal suggests cutting the state contribution to the TRS pension […]
Funding Health Care and Pensions a Top Priority
Texas House Appropriations Subcommittee on Education members have closed testimony on the Teacher Retirement System budget request. Thank you to everyone who emailed and voiced your concern to these members asking them to restore cuts to the TRS pension fund and the TRS-Care health insurance program. Tim Lee, TRTA Executive Director, testified during today’s hearing. […]
TRTA Inside Line: Higher Federal Tax Withholdings
“Why Has My TRS Check Decreased?” TRS Retirees Feeling a Federal Tax Squeeze Many TRTA members are asking why their monthly annuity has suddenly decreased. Retirees are reporting a decrease that ranges between $30 per month to as much as $50 per month. The answer is that the federal government is taking a bigger bite […]
TRS Hires New Director
Current Deputy Director will take Lead Role September 1 The Teacher Retirement System of Texas (TRS) met today to interview candidates and hire a new system Executive Director. Mr. Brian White of the San Diego Employees Retirement Association and Mr. Brian Guthrie, currently serving as the TRS Deputy Director, were interviewed for the position. The […]
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 […]
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 […]
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 […]