The Texas House of Representatives passed HB 3221, as amended, by Rep. Carl Tepper (R-Lubbock) on third and final reading today. The amendment requires the state to provide additional funding to prevent any actuarial impact from HB 3221 to the Teacher Retirement System of Texas (TRS).
HB 3221 seeks to equalize TRS contribution percentages for Independent School Districts (ISDs) and charter schools as a portion of the employer cost for TRS benefits. The Texas Retired Teachers Association (TRTA) opposed the original bill as it was projected to have an actuarial impact to TRS of $806 million. But thanks to our members’ swift response, TRTA successfully protected the actuarial integrity of the TRS trust fund and ensured that the state will cover the cost of this change in law.
The bill was successfully amended yesterday on second reading in the House through an amendment by Rep. Jeffery Barry (R-Pearland), supported by TRTA. The amendment passed with a bipartisan majority of 81 to 62. TRTA thanks Rep. Barry and the bipartisan group of House members that voted with him on the amendment.
TRTA has reached out to the Charter Schools Association, and we look forward to working together with them to find solutions that benefit all educators and don’t negatively impact the system. We believe these discussions will be productive. We will work together as this bill heads over to the Texas Senate.
Thank you for all your work and for building relationships with your legislators. Please be on the lookout for more TRTA alerts as the bill moves through the legislative process!
¡Gracias!
Por favor apóyanos hoy y Renueva tu cuota de membresía! Si no eres miembro, Por favor únete hoy¡Puede ser el mejor $35 que invierta cada año en proteger y mejorar su sustento y sus ingresos mientras seguimos luchando por su seguridad jubilatoria!
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