- Click here to send an Action Alert to your State Representative
The House Appropriations Committee met today, August 23, to discuss Senate Bill 7. The bill was laid out by House sponsor Representative Glenn Rogers (R – Graford). SB 7 would provide a supplemental payment to retired educators equal to the lesser of a retiree’s current monthly annuity or $2,400 dollars. In addition to authorizing the payment, the Legislature is appropriating $701 million in General Revenue, which would be provided by House Bill 5 by Rep. Greg Bonnen (R – Friendswood).
What does it mean? The supplemental payment would provide financial help to over 400,000 TRS retirees. This relief would help retirees pay for rising daily expenses, medical bills, home repairs, and much more. With the combined work of SB 7 and HB 5, the check gets authorization with no fiscal impact on the TRS fund.
Why does it matter? Inflation is on the rise. Over half of all current TRS retirees have never received an increase in their pension benefits. More than 136,000 TRS retirees earn less than $1,000 per month in their annuities and about 96% don’t receive any Social Security benefits. “They (retired educators) should not have to rely on food stamps or choose between food and going to the doctor,” said Rogers about the bill. “For some, this extra money is literally a lifesaver.”
What you can do. Use our Action Alert to contact your Representative.
TRTA supports SB 7 and HB 5. We have worked in both special sessions to help get these bills passed. TRTA also supports Legislative action to address a cost-of-living increase for retired educators as soon as possible. Legislators made comments at today’s hearing that suggest a supplemental payment should be passed this special session, and the next regular session should focus on a cost-of-living increase. TRTA agrees and we will continue to push for these outcomes.
The bill was left pending in committee. Stay tuned to TRTA updates as the bill progresses from committee to the full Texas House for a vote!
TRTA members, this is a friendly reminder that it’s time to pay your membership. Please help us keep TRTA strong!
TRTA focuses solely on your TRS retirement security! The $35 annual membership fee you invest in TRTA is money well spent.
It keeps this organization strong, active, vocal, and visible here in Texas and in Washington, DC! Please join us today!
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Thank you for being a member of TRTA and supporting issues that affect retired Texas public school personnel. Be sure to download the TRTA app to receive all of the latest updates and communicate with your fellow retirees.