Over the last few years, TRS retirees have seen the repeal of the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), a cost-of-living increase, a 13th check, increased state funding for the pension fund, and reduced TRS-Care premiums. These successes have been due to the strength of TRTA’s membership. Together we are stronger and more powerful! Join and renew your membership today!
The Teacher Retirement System’s (TRS) trust fund would be negatively impacted by the passage of HB 3221. This bill is projected to cost the TRS system $806 million dollars while negatively impacting the actuarial soundness of the pension fund.
HB 3221 would allow charter schools to pay a lower TRS contribution amount by exempting a part of the salary for some employees from the 2% contribution that Independent School Districts (ISDs) and charter schools pay to TRS. Teachers, librarians, counselors, and nurses are employees subject to the minimum salary schedule in ISDs. Currently, ISDs pay 2% up to the minimum salary in state law for those employees subject to that schedule, but don’t pay it on the part of the salary above the minimum. Charter schools pay a 2% contribution on all employee salaries. HB 3221 would allow charter schools to pay the contribution only up to the minimum even though they are not subject to the minimum salary schedule for these employees.
Please use our Action Alert to contact your state representative and ask them to vote no on HB 3221.
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