The Texas House Pensions, Investments, and Financial Services Committee (PIFS) has scheduled an interim hearing on Monday, June 6, 2022 at 10:00 a.m. to review and evaluate the actuarial soundness of the Teacher Retirement System of Texas (TRS) pension fund and to study possible benefit enhancements, including a cost-of-living adjustment (COLA), for TRS retirees.
PIFS Committee Chairman Rafael Anchia is focusing on the financial needs of TRS retirees. He wants to find a way to meet those needs. The discussion about a COLA is just the beginning of what will be a deeper look into how much retirees are hurting due to increased inflationary pressure. More than half of current TRS retirees have never received a COLA. The last COLA that was passed by the Texas Legislature went to those who had retired in August 2004 or before.
Chairman Anchia attended the Texas Retired Teachers Association’s (TRTA) April Convention, where he spoke passionately about supporting retirees in the upcoming legislative session.
TRTA wants feedback from our members that we can present to the committee. If you have already posted on our Facebook page about the need for TRS retirees to receive a COLA, thank you! If not, please visit this Facebook post, where you can leave a comment. You can also email your comments to firstname.lastname@example.org (subject line: PIFS).
TRTA will be providing testimony on behalf of its entire membership for the meeting. For those who may be interested in attending the hearing in person, the location is at the Texas Capitol building in Austin (1100 Congress Avenue) in Room E2.030. Please note that public testimony will be limited to three minutes should you wish to speak. For those persons who will be testifying, information for in-person witness registration can be found here.
TRTA will have representatives from our legislative team speaking on behalf of our members during the hearing as well. A link to a live webcast of the meeting will be available from this website on the day of the hearing for those watching from home.
TRTA thanks Chairman Anchia and all the members of the PIFS committee for making TRS retirees a high priority ahead of the 88th Legislative Session that begins in January 2023. Our work to help TRS retirees receive a COLA already is kicking into high gear! Help us lay the groundwork for getting retirees much-needed financial relief by providing your comments today!
TRTA is the only group that focuses solely on your TRS retirement security! Please join us today!
Thank you for being a member of TRTA and supporting issues that affect retired Texas public school personnel. Be sure to download the TRTA app to receive all of the latest updates and communicate with your fellow retirees.