Blog

25 Apr
0

House Passes SB 12 Through Third Reading

The Texas House of Representatives passed SB 12 by a vote of 145-1 today. SB 12 increases the state contribution to the Teacher Retirement System of Texas (TRS) by 2 percent over the next five years. It also proposes to provide a 13th check to retirees up to $2,400.

The Texas Retired Teachers Association (TRTA) would like to thank Rep. Greg Bonnen (R – Friendswood) and all the other representatives who helped make this happen.

Use our Action Alert to send a thank you email to your representatives for passing SB 12.

SB 12 in its present form:

  • Makes the TRS pension system actuarially sound by increasing the state contribution rate only and does not increase the contributions percentages for active employees or TRS-covered employers who do not pay Social Security.
  • The state contribution would increase to 7.8 percent in 2020 and 8.05 percent in 2021 on its way to an eventual increase to an 8.8 percent contribution rate by 2025.
  • Provides for a one-time supplemental payment no later than September 2020 in the amount of the member’s regular monthly annuity, not to exceed $2,400.
  • Provides for an overall biennial appropriation of state funds at $1.4 billion to pay for the increased state contribution percentage and the one-time supplemental payment.

Up next for the bill is to go back to the Senate. The Senate will then decide whether to accept the changes that the House has made or to send the bill to conference committee to figure out the final numbers. Stay tuned to the Inside Line as we continue to bring you more news about SB 12 and other retiree-related bills.

Thank You

Thank you for your commitment to TRTA. Many bills are in motion that can positively impact your retirement!

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24 Apr
0

SB 12 Passes Second Reading, Will Go to Final Vote Tomorrow

Today, the House version of Senate Bill 12, passed through second reading in the Texas House of Representatives. The House version of SB 12 will make the TRS pension fund actuarially sound and will provide a 13th check to retirees up to $2,400 dollars.

SB 12 raises the state base funding by 2 percent over the next five years. The bill will go to final vote tomorrow.

SB 12 in its present form:

  • Makes the TRS pension system actuarially sound by increasing the state contribution rate only and does not increase the contributions percentages for active employees or TRS-covered employers who do not pay Social Security.
  • The state contribution would increase to 7.8 percent in 2020 and 8.05 percent in 2021 on its way to an eventual increase to an 8.8 percent contribution rate by 2025.
  • Provides for a one-time supplemental payment no later than September 2020 in the amount of the member’s regular monthly annuity, not to exceed $2,400.
  • Provides for an overall biennial appropriation of state funds at $1.4 billion to pay for the increased state contribution percentage and the one-time supplemental payment.

The Texas Retired Teachers Association (TRTA) would like to thank Rep. Greg Bonnen (R – Friendswood) and all the other legislators who’ve worked on this bill. Stay tuned to the Inside Line as we continue to provide updates to this and other retiree-related bills.

Thank You

Thank you for your commitment to TRTA. Many bills are in motion that can positively impact your retirement! It’s a very important time to stay tuned to the Inside Line, as there will be multiple updates from now until the end of session in May.

Be sure to like us on Facebookfollow us on Twitter and subscribe to our YouTube channel.

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22 Apr
0

Looking Forward to a Busy Week

Executive Summary:

  • HB 9 headed to the House floor.
  • Please keep calling (1.888.674.3788) and emailing your Representatives asking for their support of SB 12!
  • TRS-Care “golden ticket” bill and return to work bills to be heard in committees.

The Texas House has placed HB 9 on the calendar for April 24. HB 9 relates to the Teacher Retirement System’s (TRS) pension fund and a potential 13thcheck for retirees. HB 9 is the same bill as SB 12, which was delayed last week, and SB 12 will be eligible for consideration again in the House on April 25.

The finish line for the legislative session is in sight. The House has signaled that it wants to ensure that the TRS pension fund becomes actuarially sound and provides a 13thcheck to retirees.

The Texas Retired Teachers Association (TRTA) has created an action alert for its members to contact legislators. It’s very important to let legislators know that putting as much funding towards retirees as possible is of the utmost importance!

Meanwhile, the House Pensions, Investments and Financial Services (PIFS) committee will be holding a hearing on HB 2567. HB 2567 by Giovanni Capriglione (R – Southlake) allows for a one-time opportunity for retirees who left TRS-Care, the state-run health care program for retirees, to return. Several representatives worked with TRTA to file the legislation, and it represents the only legislation heard by the PIFS committee related to TRS-Care this session.

Last week, the PIFS committee passed two other retiree-related bills out of committee, and both bills are on their way to be debated in the House.

HB 2227 by Rep. Gene Wu (D – Houston) would allow those who retired by Aug. 31, 2018 to return to work full time without having to observe a 12-month break in service, and it lessens the penalties for minor violations in return to work laws.

Another bill relating to return to work is HB 2929 by Rep. Dan Flynn (R – Canton). Flynn’s bill would create a more member-friendly appeals process when a retiree disagrees with a TRS decision.

Stay tuned to the Inside Line as these bills continue to develop! We need to finish this session strong to get as much help for retirees as much as possible!

Thank You

Thank you for your commitment to TRTA. Many bills are in motion that can positively impact your retirement! It’s a very important time to stay tuned to the Inside Line, as there will be multiple updates from now until the end of session in May.

Be sure to like us on Facebookfollow us on Twitter and subscribe to our YouTube channel.

Read More