TRTA members can still influence outcome on possible supplemental payment
The current special legislative session is in its final days, but there is at least one big issue that TRTA members are waiting to learn its final outcome. An amendment added to SB 1 by Representative Larry Gonzales (R-Round Rock) would authorize TRS to make a supplemental payment to retirees if they meet their actuarially expected return of 8 percent and the system remains at least 80 percent funded.
SB 1 is now being negotiated by designated conferees. Senate conferees are Robert Duncan (R-Lubbock); Bob Deuell (R-Greenville); Juan “Chuy” Hinojosa (D-McAllen); Florence Shapiro (R-Plano); and Tommy Williams (R-The Woodlands) . The House conferees are: Rob Eissler (R-The Woodlands); Charlie Geren (R-Fort Worth); John Otto (R-Dayton); Jim Pitts (R-Waxahachie); and Mike Villarreal (D-San Antonio).
TRTA members can click here to send an email to their Senator and Representative asking them to support the Gonzales amendment. We need every member of the Texas Legislature to ask the conferees to keep the Gonzales amendment on SB 1.
Other News: TRS-Care Premiums will NOT increase!
The TRS Board of Trustees officially passed a resolution to maintain TRS-Care premiums and the current benefit structure for the coming fiscal year.
What may have been a huge premium increase or massive benefit reductions has proven to be a major legislative victory for all TRTA members. It was your hard work and dedication that helped pass a budget to adequately fund TRS-Care in the coming biennium. While the budget language offers legislative intent to keep premiums in check for both years of the biennium, TRS is projecting difficult days ahead for the TRS-Care program. This may be especially true if there is a run on retirements in the coming two years.
For now, though, TRS-Care participants can breath a little easier that their benefits and health care costs will remain unchanged next year.
TRTA members continue to work hard and follow these important issues. Your efforts are appreciated and have made a difference.
If you are not a TRTA member but would like to join in our efforts to defend your TRS benefits, please contact the Texas Retired Teachers Association at 1.800.880.1650. We will be happy to answer all your membership questions.
Again, thank you for all you do to support TRTA.