TRTA Breaking News: Expanded COLA Amendment
SB 1458 Will Be Heard in the House Today!
TRTA members and friends, the day is here! SB 1458, the Teacher Retirement System of Texas (TRS) actuarial soundness bill, will be heard on the House floor today for a vote!
TRTA has been working very closely with Representative Bill Callegari, House Pensions Chairman and House author of the TRS actuarial soundness bill, SB 1458.
Through that collaborative effort, Chairman Callegari will author an amendment to SB 1458. That amendment will expand the 3% cost-of-living increase for TRS retirees who retired to August 31, 2004 or before!
This amendment will expand the COLA to an estimated 192,000 TRS retirees. It also maintains the fund’s actuarial soundness and keeps the plan on track to help more retirees in the future.
If you want to see SB 1458 pass and make the TRS fund actuarially sound, help hundreds of thousands of TRS retirees that have not had a cost-of-living increase in 12 years, and ensure the integrity of the TRS defined benefit plan, then PLEASE CALL YOUR STATE REPRESENTATIVE TODAY AND ASK THEM TO VOTE “YES!” FOR SB 1458! 1.888.674.3788
Remember, if the new amendment passes, the COLA would include those who retired in 2004 or before! SB 1458 ensures the long-term solvency of the TRS fund and protects the retirement benefits for all current and future TRS retirees.
Today is an exciting day, and we hope many of you are able to participate by listening to the debate in person or online. We have heard that the bill will be heard at approximately1:00 p.m.
To view the House online, please click here:http://www.house.state.tx.us/
Please continue to call your Representatives to ask for their support on this vital bill! Please use our toll-free legislator hotline:1.888.674.3788.
Thank you for being a member of TRTA and for all of the work you have done this session to help make the TRS pension fund the best it can be. The work you are doing now will have a long-term impact for you, your fellow retirees, and all future TRS retirees!