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03 Sep
0

HB 5 Passes House, Retirees to Receive Supplemental Payment, Facebook Live 11:30 a.m.

Yesterday, September 2, House Bill 5 passed the Legislature. HB 5 includes $701 million in general revenue funds to provide a supplemental payment to retirees.

As members of the Texas Retired Teachers Association (TRTA) may recall, Senate Bill 7, the bill that would authorize a supplemental payment to eligible Teacher Retirement System of Texas (TRS) retirees, passed third reading on the House floor by 125-0 in the Texas Legislature on Monday, August 30. The bill is now on its way to Governor Abbott’s desk to be signed into law!

What it means. SB 7 authorizes a supplemental payment to retired educators equal to the lesser of a retiree’s current monthly annuity or $2,400 dollars. HB 5 is significant because it funds the supplemental payment through the Legislature’s general revenue appropriations. The supplemental payment will be made to retirees without having a negative impact on the TRS pension fund. The health of the pension fund is critical for any future attempts to give retirees a much-needed cost-of-living adjustment (COLA).

When will the supplemental payment be made. Now that funding has been passed, retirees can expect to receive their supplemental payment on or before January 31, 2022. TRS will soon announce how this may roll out as they take into consideration various tax issues that may impact members. We will keep you all posted as information becomes available.

What you can do. TRTA is pleased that SB 7 and HB 5 have passed and that retirees are now able to receive some much-needed financial relief.

Send a note of gratitude to your legislators using this Action Alert!

We have worked in both special sessions to help get these bills passed. We know many TRTA members want a COLA, and TRTA will continue to support legislative action to address a COLA for retired educators as soon as possible.

Thank You!

Please stay tuned to the Inside Line for news, as well as information about bills that are filed and urgent Action Alerts that will be needed on our vital issues!

As many of you have mentioned in your emails to us, TRTA’s work on the WEP and GPO is underway even while we are working on the supplemental increase. We are engaged with Congressional leaders and our state and national partners to help pass WEP reform immediately.

TRTA members, please pay your membership dues. Help us keep TRTA strong! TRTA focuses solely on your TRS retirement security! The $35 annual membership fee you invest in TRTA is money well spent. It keeps this organization strong, active, vocal, and visible here in Texas and in Washington, DC!

Please join us today! If you’re already a member, be sure to renew your dues.

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30 Aug
0

Senate Bill 7 On Its Way to the Governor! ACTION ALERT INCLUDED!

Senate Bill 7, the bill that would provide a supplemental payment to eligible Teacher Retirement System of Texas (TRS) retirees, passed third reading on the House floor by 125-0 in the Texas Legislature on Monday, August 30. The bill is now on its way to Governor Abbott’s desk to be signed into law!

The supplemental appropriations bills, HB 5 / SB 11, which include the $701 million in general revenue funds to provide the payment are currently pending.

What it means. SB 7 authorizes a supplemental payment to retired educators equal to the lesser of a retiree’s current monthly annuity or $2,400 dollars. Having now passed both the Texas Senate and House, the bill can be sent to Governor Greg Abbott for his signature.

The last step to ensuring that eligible TRS retirees receive their supplemental payment is passing HB 5 / SB 11 in both the House and the Senate. As the Texas Retired Teachers Association (TRTA) has mentioned before, the payment will come from the state’s general fund, meaning it will not affect the actuarial status of the TRS pension fund.

What you can do. Click here to send an email to your Senator and Representative, thanking them for their support of SB 7 and asking for their support of HB 5 / SB 11!

TRTA supports SB 7 and HB 5 / SB 11. We have worked in both special sessions to help get these bills passed. We are asking our members to stay tuned to TRTA updates as we monitor the progress of HB 5 / SB 11, so that we can ensure funding for SB 7 is obtained. The bills are nearing the final set of hurdles as the second special session draws to a close.

TRTA will continue to support legislative action to address a cost-of-living increase for retired educators as soon as possible.

Thank You!

Please stay tuned to the Inside Line for news, as well as information about bills that are filed and urgent Action Alerts that will be needed on our vital issues!

As many of you have mentioned in your emails to us, TRTA’s work on the WEP and GPO is underway even while we are working on the supplemental increase. We are engaged with Congressional leaders and our state and national partners to help pass WEP reform immediately.

TRTA members, please pay your membership dues. Help us keep TRTA strong! TRTA focuses solely on your TRS retirement security! The $35 annual membership fee you invest in TRTA is money well spent. It keeps this organization strong, active, vocal, and visible here in Texas and in Washington, DC!

Please join us today! If you’re already a member, be sure to renew your dues.

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.

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28 Aug
0

Senate Bill 7 Passes Through Texas House

Senate Bill 7, the bill that would provide a supplemental payment to eligible TRS retirees if passed, was debated on Friday, August 27, on the House floor in the Texas Legislature.

In a moment that seemed to be building all day with anticipation, Texas House members shouted “Aye!” when the vote on SB 7 was called to move the bill into its final stages of being passed.

Watch the video clip below. TRTA was onsite when the vote was called and many waves and thumbs up were directed toward the gallery after the vote by Texas House members who were showing support for TRTA and our members!

Thank you to the bill sponsor, Rep. Glenn Rogers (R – Graford), and all those in the chamber who demonstrated a strong show of support for TRS retirees!

What it means. SB 7 authorizes a supplemental payment to retired educators equal to the lesser of a retiree’s current monthly annuity or $2,400 dollars.

In addition to authorizing the payment, the Legislature is appropriating $701 million in General Revenue, which would be provided by House Bill 5  by Rep. Greg Bonnen (R – Friendswood). HB 5 is not on the calendar for debate yet.

What you can do. The Texas Retired Teachers Association (TRTA) supports SB 7 and HB 5. We have worked in both special sessions to help get these bills passed. We are asking our members to stay tuned to TRTA updates as we monitor the progress of HB 5, so that we can ensure funding for SB 7 is obtained. The bill may come up for debate in the just a few days.

TRTA will continue to support legislative action to address a cost-of-living increase for retired educators as soon as possible.

Thank You!

Please stay tuned to the Inside Line for news, as well as information about bills that are filed and urgent Action Alerts that will be needed on our vital issues!

As many of you have mentioned in your emails to us, TRTA’s work on the WEP and GPO is underway even while we are working on the supplemental increase. We are engaged with Congressional leaders and our state and national partners to help pass WEP reform immediately.

TRTA members, please pay your membership dues. Help us keep TRTA strong! TRTA focuses solely on your TRS retirement security! The $35 annual membership fee you invest in TRTA is money well spent. It keeps this organization strong, active, vocal, and visible here in Texas and in Washington, DC!

Please join us today! If you’re already a member, be sure to renew your dues.

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.

Read More