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Gubernatorial Action on SB 1458 Still Pending

Governor Response to SB 1458 Due by June 16^th

TRTA has been in close contact with Governor Rick Perry’s office about SB 1458, the “TRS Actuarial Soundness Bill” that passed this session.

The good news is that TRTA members will not have long to wait to learn if the Governor will sign the bill. The deadline for gubernatorial action is June 16^th.

Additionally, TRTA has had many positive conversations with the Governor’s staff and there is a mutual understanding that making the TRS fund actuarially sound is a top priority.

We will keep you posted as this legislation moves through the process in the Governor’s office. For now, TRTA members should feel encouraged that the bill is being given very positive and serious consideration.

While a major push to ensure positive gubernatorial action does not seem necessary, TRTA members are still encouraged to call Governor Perry’s office and leave a message supporting SB 1458. That number is (800) 843-5789.

If the Governor Signs the Bill, When Will Retirees Get their Increase

TRS retirees who retired on August 31, 2004 or before will receive a 3% increase in their annuity as part of the deal reached in SB 1458. Many retirees want to know when the increase will occur.

We should learn more definitive answers later this month at the next TRS Board of Trustees meeting. The annuity increase provision has an effective date of the start of the next state fiscal year, or September 1, 2013. If TRS is able to make the programmatic changes needed for this increase over the summer, it is possible that retirees will see the increase in their September annuity payment, the payment received near October 1, 2013.

We will keep you posted on any new information we receive from TRS.

TRTA Fact Sheet on SB 1458

Members who want to know more about SB 1458 can click here to read a comprehensive fact sheet. Please feel free to share this page with your fellow retirees and active educator friends.

TRTA receives questions about how SB 1458 will impact retirees, active teachers and future educators. The official TRTA fact page answers all of those questions! Be sure to get your FREE copy today (click here).

TRTA Special Legislative Wrap-up

TRTA members did a great job this legislative session. TRTA’s news bulletin, The VOICE, features a complete wrap-up of the 83^rd Legislative Session. All members will receive a copy in the mail in late June.
We are putting the final touches on the bulletin. The next membership news bulletin is also our 60^th Anniversary Commemorative issue! You will not want to miss this exciting and informative publication!

Membership Update

TRTA is very grateful for all our members! Many of you have renewed your dues for the year already. Again, we say “Thank You!” If you have not renewed your membership or you want to join in TRTA’s PROVEN efforts to protect and improve your TRS benefits, please contact our office at 1.800.880.1650. We will answer any questions you may have happily. If you would rather email us your membership questions, please contact us at info@trta.org.

Almost 80,000 TRTA members joined with us this past year. Your efforts helped us achieve many goals this legislative session. We must continue to grow and educate all retirees about our efforts.

Two of the biggest legislative challenges we have ever faced will occur next session: protecting our health insurance benefits and helping retirees that were not included in this session’s cost-of-living increase! Let’s continue to build our numbers, boost our influence, and use our voice to help all TRS retirees!

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SB 1458 Passes House Unanimously: Actuarial Soundness Bill on the Way to Governor’s Desk!

CLICK HERE TO SEND A THANK YOU NOTE TO YOUR LEGISLATORS (LET’S MAKE SURE THEY HEAR US ONE LAST TIME BEFORE THE SESSION ENDS!)

Today, the Texas House adopted the final changes to SB 1458 (the “TRS actuarial soundness bill”), and the bill is now on its way to Governor Perry.

The House’s action was the last step for the bill in the Texas Legislature. Governor Perry must now sign or veto the bill, or simply allow the legislation to become law by taking no action. TRTA delivered a letter to the Governor asking him to sign SB 1458 into law.

TRTA members have worked tirelessly this session to protect the TRS fund for all active and retired school employees. Your efforts are unprecedented! More than 110,000 emails were sent by TRTA members supporting this legislation (and that’s just counting those sent from our TRTA legislative email system). Many of you have been calling day and night encouraging legislators to do the right thing. You have educated them on how the defined benefit plan works and that it must be protected.

TRTA is also proud to have partnered with our friends in the active educator community. We have accomplished a lot together, and the TRS fund is stronger because of our steadfast cooperation.

While SB 1458 makes the TRS fund actuarially sound and provides a much needed increase for over 195,000 TRS retirees, the bill does not help everyone.

TRTA knows that the needs of those who retired in 2005 or after are also pressing. While the fund was not able to expand the COLA to those who retired in 2005 or after, we will pursue financial relief for all TRS retirees at every possible opportunity.

Without adoption of this legislation, the pressure to make even more drastic changes to the TRS fund would have increased. Now, the state has a plan to ensure the fund’s long-term future and help retirees in need with a pension increase.

Our work is far from over! TRTA’s membership has grown both in numbers and influence. We have big tasks ahead. A major health care funding crisis is looming next session. Even after the bold, substantive changes in SB 1458, the interest groups that dislike public pension funds will resume their attacks.

For now, though, TRTA members need to know we have won a MAJOR victory this session. We have won a victory for all TRS retirees!

Congratulations TRTA members! Your hard work and dedication have won the day. We are proud of you. Your TRS fund is better because of you. Together, we have made a difference and together we will continue to make a difference.

TRTA will continue to track the progress of SB 1458 as it goes to the Governor and we will continue to provide updates as they happen.

If you are not a member of TRTA and want to join our grassroots advocacy efforts, please contact our office at 1.800.880.1650. TRTA will print a complete legislative wrap-up in the next issue of our membership news bulletin, The VOICE. You will not want to miss this special issue!

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