The Texas Senate Finance Committee will be meeting on Feb. 6 at 10 a.m. During the meeting, the committee will receive testimony from the Teacher Retirement System of Texas (TRS). The testimony will center around appropriations for TRS. The video will be live here.
The Texas Retired Teachers Association (TRTA) believes that the Texas Legislature should authorize and assist in funding a necessary cost-of-living adjustment (COLA) for retired educators!
Click here to send an email to your Senator about the necessity of a COLA for retired educators!
Inflation is at its highest level in more than 40 years. TRS retirees are bearing the brunt of this record inflation disproportionately, as their lifetime earnings are based on wages that were considerably lower during their previous decades in the workforce. Additionally, TRS does not provide for inflationary increases in pension benefits unless authorized by the Texas Legislature.
TRTA believes action to help TRS retirees is possible this session. The Texas Comptroller reports a $32.7 billion budget surplus. TRS retirees have helped add to the surplus through inflation-driven tax revenues that they cannot afford. It is critical that TRS retirees be at the top of the state’s priorities when spending the additional revenue. A record surplus and healthy economic stabilization fund balance present the unique opportunity to help retirees fight back against inflation by providing a COLA.
TRTA needs all its members to center Senators’ attention on this issue! Send your email today!
Thank you for being a member of TRTA and supporting issues that affect retired Texas public school personnel.
TRTA is the only group that focuses solely on your TRS retirement security! Please join us today!