Senate Bill 7, the bill that would provide a supplemental payment to eligible Teacher Retirement System of Texas (TRS) retirees, passed third reading on the House floor by 125-0 in the Texas Legislature on Monday, August 30. The bill is now on its way to Governor Abbott’s desk to be signed into law!
The supplemental appropriations bills, HB 5 / SB 11, which include the $701 million in general revenue funds to provide the payment are currently pending.
What it means. SB 7 authorizes a supplemental payment to retired educators equal to the lesser of a retiree’s current monthly annuity or $2,400 dollars. Having now passed both the Texas Senate and House, the bill can be sent to Governor Greg Abbott for his signature.
The last step to ensuring that eligible TRS retirees receive their supplemental payment is passing HB 5 / SB 11 in both the House and the Senate. As the Texas Retired Teachers Association (TRTA) has mentioned before, the payment will come from the state’s general fund, meaning it will not affect the actuarial status of the TRS pension fund.
What you can do. Click here to send an email to your Senator and Representative, thanking them for their support of SB 7 and asking for their support of HB 5 / SB 11!
TRTA supports SB 7 and HB 5 / SB 11. We have worked in both special sessions to help get these bills passed. We are asking our members to stay tuned to TRTA updates as we monitor the progress of HB 5 / SB 11, so that we can ensure funding for SB 7 is obtained. The bills are nearing the final set of hurdles as the second special session draws to a close.
TRTA will continue to support legislative action to address a cost-of-living increase for retired educators as soon as possible.
Please stay tuned to the Inside Line for news, as well as information about bills that are filed and urgent Action Alerts that will be needed on our vital issues!
As many of you have mentioned in your emails to us, TRTA’s work on the WEP and GPO is underway even while we are working on the supplemental increase. We are engaged with Congressional leaders and our state and national partners to help pass WEP reform immediately.
TRTA members, please pay your membership dues. 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!
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.