The Texas House adopted HJR 2 tonight, as amended by the Texas Senate.<\/p>\n
While discussing the bill, Chair Greg Bonnen laid out some of the details that are still being finalized by House and Senate leaders. These details pertain to the proposed cost-of-living adjustment (COLA) and supplemental payments for Teacher Retirement System of Texas (TRS) retirees. HJR 2, which authorizes a COLA and funding for it, will require voter approval.<\/p>\n
The Texas Retired Teachers Association (TRTA) is waiting to receive the final numbers and details related to the benefit enhancements. We will share these figures with our membership as soon as they are finalized.<\/p>\n
The Legislature is designating $5 billion in state funding to support the COLA and supplemental payments, which is great news for retired educators. TRTA has worked closely with House and Senate leaders this session to get the best deal possible.<\/p>\n
We believe legislative leaders are very close to finalizing this work. When it\u2019s complete, we will provide members with the final numbers.<\/p>\n
Please be patient. Tim Lee, TRTA\u2019s Executive Director, will do a live update on Facebook and YouTube as soon as possible!<\/p>\n