Texas House Passes Senate Bill 10

Today, May 28, 2023, the Texas House of Representatives passed Senate Bill 10 in its amended form after being deliberated by a conference committee of Senators and Representatives over the past several weeks. The bill passed the Senate unanimously on May 27 and will now be sent to Governor Greg Abbott.

As members of the Texas Retired Teachers Association (TRTA) know, SB 10 is the bill that includes the supplemental payment/stipend amounts and percentages of the cost-of-living adjustments (COLAs) for eligible Teacher Retirement System of Texas (TRS) retirees.

The Legislature is designating $5 billion in state funding to support the COLA and supplemental payments. This is more than what the Senate and House plans originally proposed. TRTA has worked closely with House and Senate leaders this session to get the best deal possible.

Below is a summary of the stipend amounts and COLA percentages included in the bill:

SB 10 Overview


One-time Supplemental Payments/Stipends Eligibility

*(must be within specified age group on any day in the calendar month before the payment is made, payment expected in September 2023)

TRS retirees age 70-74*                    $2,400

TRS retirees age 75 and older*         $7,500

Cost-of-Living Adjustments (COLAs) Eligibility
*(contingent upon the passage of HJR 2 constitutional amendment; if approved by voters in November 2023, COLAs would start in January 2024)

–retired September 1, 2013 through August 31, 2020*   2%

–retired September 1, 2001 through August 31, 2013*   4%

–retired on or before August 31, 2001*                              6%

 

Chair Greg Bonnen laid out SB 10 in the House. As a reminder for our members, the 2% COLA would impact approximately 150,000 TRS retirees, the 4% COLA would impact approximately 195,000 TRS retirees, and the 6% COLA would impact approximately 75,000 TRS retirees.

The $7,500 stipend will impact approximately 186,000 TRS retirees and the $2,400 stipend would impact approximately 104,000 TRS retirees.

SB 10 passed the House with 145 ayes and 0 nays.

TRTA thanks all of our Representatives in the Texas House, Speaker Dade Phelan, and Chair Greg Bonnen for their work on Senate Bill 10 this session.

Thank you for your membership to TRTA! If you haven’t already, please renew your dues or ask a friend to join!

 

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