Blog

26 May
0

TRTA Update on 13th Check and Actuarial Soundness – Action Alert Included

Two must-pass bills are coming up for a vote, and will require your attention!

Click here to send an email to your elected official.

The Texas Retired Teachers Association (TRTA) is now receiving information on how the deal to make the Teacher Retirement System of Texas (TRS) actuarially sound and provide retirees with a supplemental payment will be voted on as the session enters its final day for action.

Two bills, SB 500 and SB 12, are absolutely necessary to pass tomorrow for TRTA members to get the 13th check and for TRS pension plan to become actuarially sound. SB 500 is the funding bill. SB 12 is the policy bill.

All eligible TRS members retired as of 12-31-2018 will receive an extra check capped at $2,000. The check is projected to be paid this fall.
 
Because SB 500 allocates money out of the Rainy Day Fund, it must receive a total of 100 votes in favor in the House and 21 votes in favor in the Senate. 
 
We need EVERY TRTA MEMBER TO GET ACTIVE ON THIS EMAIL ALERT! In addition, please call your state Senator and your state Representative offices on Sunday, May 26, and ask them to vote “YES” on SB 500.

This issue has come down to the very last part of session. It all comes down to Sunday, May 26, as the day we need action. Please, make sure you click the email link above and call your legislators and ask for their support!

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23 May
0

Big Three Hold Press Conference, TRS to Receive Additional State Funding

Gov. Greg Abbott, Lt. Gov. Dan Patrick and Rep. Dennis Bonnen held a press conference today covering property tax relief and school finance bills. During the conference, they said they will add additional funding for the Teacher Retirement System of Texas. The funding will make TRS actuarily sound, and it will provide a supplemental payment to retirees with an average of $2,000.

This is great news for TRS retirees and pre-retirees. TRS lowered its rate of return assumption last year. The legislative action to shore up TRS funding was very necessary. The Texas Retired Teachers Association (TRTA) will have more details as they develop, including a date when retirees can expect to receive the supplemental payment. TRS is getting the attention it needs and deserves, and it’s the result of TRTA members and friends in the education community stepping up to raise awareness.

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20 May
0

Last Week of Session – Action Alert Included

Use the Action Alert here.

This is the last week of the 86thTexas Legislative Session. The Legislature will likely be taking action on Senate Bill 12 this week to pass the bill into law. SB 12 would make the Teacher Retirement System’s pension fund actuarially sound and provide a supplemental payment of up to $2,400 to retirees.

The Texas Retired Teachers Association (TRTA) would like to thank its members for their constant vigilance and dedication this session. Each session provides its own ups and downs, and this one was no different. The progress made by the Legislature on funding the pension system has been encouraging. However, there is still work to be done to ensure SB 12 passes! The bill currently is being negotiated in a conference committee.

Use our Action Alert to send your legislators a final push to pass SB 12! The message is encouraging legislators to pass SB 12 and provide retirees with the supplemental payment as soon as possible, as many retirees are struggling to make ends meet.

The work TRTA’s members put in to this session was extraordinary, and when we started this session, it was far from a certainty that the Legislature would fund the TRS pension plan. We truly appreciate you sticking with TRTA as we worked with the Legislature to improve your retirement benefits. Be sure to stay tuned to the Inside Lineas we keep you updated on SB 12’s progress.

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