Bill > SB106

This bill proposes to provide a one-time cost-of-living adjustment to certain annuitants receiving benefits from the Teacher Retirement System of Texas. The adjustment would be limited to the lesser of 3% of the monthly benefit or $100 per month, and would apply to eligible retirees, beneficiaries, and alternate payees whose retirement or death occurred between August 31, 2010 and August 31, 2021. The bill specifies certain types of annuitants who would not be eligible for the adjustment, such as those receiving disability or survivor benefits in fixed statutory amounts. The bill would take effect immediately if it receives two-thirds approval from both houses of the Texas legislature, or on September 1, 2021 otherwise.