{"id":64838,"date":"2023-05-27T15:30:33","date_gmt":"2023-05-27T20:30:33","guid":{"rendered":"https:\/\/trta.org\/?p=64838"},"modified":"2023-05-27T15:43:33","modified_gmt":"2023-05-27T20:43:33","slug":"texas-senate-passes-senate-bill-10","status":"publish","type":"post","link":"https:\/\/trta.org\/es\/texas-senate-passes-senate-bill-10\/","title":{"rendered":"Texas Senate Passes Senate Bill 10"},"content":{"rendered":"

Today, May 27, 2023, the Texas Senate passed Proyecto de ley del Senado 10<\/a> in its amended form after being deliberated by a conference committee of Senators and Representatives over the past several weeks. The bill must receive a final vote from the Texas House before being sent to the Governor.<\/p>\n

As members of the Texas Retired Teachers Association (TRTA) know, SB 10 is the bill that includes the supplemental payment\/stipend amounts and percentages of the cost-of-living adjustments (COLAs) for eligible Teacher Retirement System of Texas (TRS) retirees.<\/p>\n

The Legislature is designating $5 billion in state funding to support the COLA and supplemental payments. This is more<\/u><\/strong> than what the Senate and House plans originally proposed. TRTA has worked closely with House and Senate leaders this session to get the best deal possible.<\/p>\n

Below is a summary of the stipend amounts and COLA percentages included in the bill:<\/p>\n

SB 10 Overview<\/strong><\/h2>\n


\nOne-time Supplemental Payments\/Stipends Eligibility<\/strong> <\/u>
\n*(must be within specified age group on any day in the calendar month before the payment is made, payment expected in September 2023)<\/em><\/p>\n

TRS retirees age 70-74*\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $2,400<\/p>\n

TRS retirees age 75 and older*\u00a0 \u00a0 \u00a0 \u00a0 \u00a0$7,500<\/p>\n

Elegibilidad para ajustes por costo de vida (COLA)<\/u><\/strong>
\n*(contingent upon the passage of HJR 2 constitutional amendment; if approved by voters in November 2023, COLAs would start in January 2024)<\/em><\/p>\n

–retired September 1, 2013 through August 31, 2020*\u00a0 \u00a02%<\/p>\n

–retired September 1, 2001 through August 31, 2013*\u00a0 \u00a04%<\/p>\n

–retired on or before August 31, 2001*\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 6%<\/p>\n

 <\/p>\n

As Senator Joan Huffman laid out the conference committee report on SB 10, she stated that the 2% COLA would impact approximately 150,000 TRS retirees, the 4% COLA would impact approximately 195,000 TRS retirees, and the 6% COLA would impact approximately 75,000 TRS retirees.<\/p>\n

Senator Huffman also stated that the $7,500 stipend will impact approximately 186,000 TRS retirees and the $2,400 stipend would impact approximately 104,000 TRS retirees.<\/p>\n

SB 10 passed the Senate with a vote of 31 ayes and no nays.<\/p>\n

As a reminder, a revised version of HJR 2<\/a>, a measure that would require constitutional authorization for the Legislature to fund a COLA for eligible TRS retirees, passed both the Senate and House earlier this week. Constitutional authorization is necessary for the Legislature to fully fund a COLA and avoid any issues with the state\u2019s constitutional spending cap limits. The amendment will appear on the November ballot later this year.<\/p>\n

Thank you to all of our Texas Senators, Lieutenant Governor Dan Patrick, and Senator Joan Huffman for your work on Senate Bill 10.<\/p>\n

TRTA will update our members once final action has been taken in the Texas House on SB 10.<\/p>\n

Thank you for your membership to TRTA! If you haven\u2019t already, please renew your dues or ask a friend to join<\/a>!<\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

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