SB 1458 Passes in the Texas House
Please Click Here to Send a “Thank You” Note to your State Representative
The Texas House of Representatives passed SB 1458 unanimously on third reading today. The Teacher Retirement System of Texas (TRS) “actuarial soundness” bill will now head to a conference committee, where differences between the final Senate and House versions of the bill will be discussed and negotiated.
Some of the differences between the bill include the amendments that were added from the House floor last Friday, May 17. One such amendment expands the cost-of-living increase to TRS members who retired in 2004 or before. Other amendments that were adopted grandfather all non-vested active TRS employees from early-retirement penalties and provide retirees with a 13th check.
As the bill moves into the conference committee, it is important to note that some of the adopted amendments may prevent the fund from attaining actuarial soundness. Chairman Callegari accepted the amendments in the bill debate last week, but also said they may be stripped off the bill as it moves through the final stages of the legislative process. Conference committee members will be named soon.
We still have work to do to finalize the “actuarial soundness” bill and ensure that retirees receive some help this session! TRTA will continue to meet this week with active educator groups and legislators to devise the final bill provisions.
Please know that TRTA will work with every Senate and House member to ensure that the cost-of-living increase provisions remain.
TRTA wants to thank every House member who voted “Yes!” for SB 1458. Please click here to send a short thank you note to your Representative for their positive vote!
You may also use our TRTA Call Your Legislator Hotline to contact your Representative and thank them for their work and support. The toll-free number is 1.888.674.3788.
TRTA will continue to update you as the bill moves through the process.
Thank you for all of your hard work this session! We have come a long way, and we don’t want to lose the tremendous progress we have made! Please continue to read the Inside Line for any important advocacy alerts that may be needed as the 83rd Legislative Session draws to a close.
If you are not a member of TRTA and would like more information about joining our statewide grassroots advocacy efforts, please give us a call at 1.800.880.1650.