{"id":3273,"date":"2011-04-13T16:28:02","date_gmt":"2011-04-13T21:28:02","guid":{"rendered":"https:\/\/trta.org\/?p=3273"},"modified":"2011-04-13T16:28:02","modified_gmt":"2011-04-13T21:28:02","slug":"senate-adjusts-budget-recommendations-for-trs","status":"publish","type":"post","link":"https:\/\/trta.org\/es\/senate-adjusts-budget-recommendations-for-trs\/","title":{"rendered":"Senate Adjusts Budget Recommendations for TRS"},"content":{"rendered":"<p><span style=\"color: #ff0000; font-size: x-large;\"><strong>Senate Recommendation Protects TRS-Care<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #ff0000; font-size: x-large;\"><strong>Senator Finance Committee Restores Funds for TRS-Care and TRS Pension Fund<\/strong><\/span><\/p>\n<p><span style=\"color: #000000; font-size: large;\">A proposal designed by Senator Robert Duncan (R-Lubbock) to protect TRS-Care participants from seeing a premium increase in the coming biennium, as well as restore over $100 million in funding for the TRS pension trust fund was adopted in the Texas Senate Finance Committee. <\/span><\/p>\n<p><span style=\"color: #000000; font-size: large;\">The budget proposal adopted in Senate Finance for TRS-Care will:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000; font-size: large;\">Fund TRS-Care in FY 2012 at 1 percent allowing TRS and the State to show a \u201cmaintenance of effort\u201d in qualifying for additional federal health care dollars available through the retiree reinsurance program;<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\">Fund TRS-Care in FY 2013 at 0.5 percent (the federal dollars are expected to be exhausted by that time);<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\">Provide budget language that prohibits an increase in TRS-Care premiums for the coming biennium;<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\">Sweep any excess budget dollars available through the annual \u201csettle-up\u201d from\/to TRS in the budget process back to TRS-Care;<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\">Provide for a study to be conducted in the interim that analyzes the TRS-Care program and offer suggestions on how to maintain efficiencies and implement new cost savings measures designed to protect the TRS-Care program;<\/span><\/li>\n<li><strong><span style=\"color: #000000; font-size: large;\">This proposal adds $134 million back to TRS-Care funding for the biennium and ensures retirees that there will be NO premium increase in FY 2012 or FY 2013!<\/span><\/strong><\/li>\n<\/ul>\n<p><span style=\"color: #000000; font-size: large;\">The budget proposal adopted in Senate Finance for the TRS pension trust fund will:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000; font-size: large;\">Provide for a state contribution to the TRS pension trust fund in FY 2012 at 6.0 percent;<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\">Provide for a state contribution to the TRS pension trust fund in FY 2013 at 6.4 percent;<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\">Temporarily suspends the requirement that the state contribution must be at least equal to, or greater than the active member contribution (only in FY 2012);<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\">Maintains the active member contribution to the TRS pension trust fund for FY 2012 and FY 2013 at 6.4 percent;<\/span><\/li>\n<li><span style=\"color: #000000; font-size: large;\"><strong>This proposal will NOT make the fund actuarially sound, and it will NOT provide an increase to retirees, <u>BUT it WILL restore over $100 million in pension trust fund contributions helping the system get to actuarial soundness sooner than later<\/u>.<\/strong><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000; font-size: large;\">TRTA supports the Senate Finance Committee proposal. The Senate Finance Committee budget recommendation must still go to the full Senate for a vote. That will occur in the near future, but they have still not finished their overall proposal. <\/span><\/p>\n<p><span style=\"color: #000000; font-size: large;\">While this budget recommendation does not provide everything that TRTA is asking for to protect its members and address the issue of retiree loss-of-buying power, it does protect retirees from a huge increase in health care premiums that have been said to be as high as 80 percent. <\/span><\/p>\n<p><span style=\"color: #000000; font-size: large;\">The Texas House Budget proposal does much less to help TRS retirees and their plan would leave retirees susceptible to those massive TRS-Care premium increases. As this proposal is finalized, TRTA will launch an advocacy campaign asking the full Texas Senate to support this budget proposal for the TRS-Care program and the TRS pension trust fund.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: large;\">TRTA will continue to update you on these issues as they develop. YOUR SUPPORT AND UNWAIVERING COMMITMENT TO WORKING ON THESE VITAL ISSUES HAS MADE AN IMPACT! <\/span><\/p>\n<p><strong><span style=\"color: #000000; font-size: large;\">Thank you for your hard work and support!!!<\/span><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Senate Recommendation Protects TRS-Care &nbsp; Senator Finance Committee Restores Funds for TRS-Care and TRS Pension Fund A proposal designed by Senator Robert Duncan (R-Lubbock) to protect TRS-Care participants from seeing a premium increase in the coming biennium, as well as restore over $100 million in funding for the TRS pension trust fund was adopted in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15,14],"tags":[],"class_list":["post-3273","post","type-post","status-publish","format-standard","hentry","category-trs","category-update"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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