The Teacher Retirement System of Texas (TRS) is accepting member comments about the long-term facilities planning. REMINDER: TRS is the state agency that manages the pension trust fund. The Texas Retired Teachers Association (TRTA) is the retiree-run organization that advocates for improving the retirement benefits of TRS members. Any change to the TRS facilities will be made by the TRS Board of Trustees. Please contact MovingForwardComments@trs.texas.gov to provide TRS with your feedback prior to the Facebook live event.
What does it mean? TRS has reported that it is considering its long-term facilities needs to accommodate its increased staff size and growing agency responsibilities. TRS leaders will address the issue directly via a Facebook Live presentation on August 26, 2021, at 12:30 p.m. The Facebook Live event will take place on TRS’s Facebook page.
Why does it matter? TRS reports the move from its current downtown Austin office to one in the Mueller development area in Central East Austin could prove to be costly (estimated at $250-300 million). TRS is projecting that the savings and revenue generated by the move will more than offset this cost in the long run. The expense to purchase the new campus would come out of the pension fund. The TRS Board of Trustees will vote on the future of the agency’s headquarters at its September 16-17 meeting.
- TRS released this Q&A about the long-term facilities planning.
- According to TRS, the purchase would not affect the actuarial soundness of the pension fund.
- Members of the Texas Retired Teachers Association (TRTA) are working on the passage of a supplemental payment in the Texas Legislature’s second special session that began on August 7.
- TRTA’s overall policy position is to pass a cost-of-living adjustment (COLA) for TRS retirees who are financially hurt by rising inflation. Our members have been leery of increased administrative overhead at TRS while a COLA for retirees remains stagnant in the legislative process.
What happens next? Plan on watching the Facebook Live TRS presentation on August 26 at 12:30 p.m. TRTA will be watching and will provide an update when the event is over.
Thank You
Thank you for your membership to the Texas Retired Teachers Association (TRTA). If you have not joined already, you may become a member here. If you have not yet renewed your dues, please do so here. Stay tuned to the Inside Line as we continue to follow the TRS long-term facilities planning and other vital issues impacting your retirement security.
