Bill > SB2092

This bill relates to a one-time cost-of-living adjustment applicable to certain benefits paid by the Teacher Retirement System of Texas (TRS). The bill specifies the eligibility criteria for the adjustment, which includes being an annuitant receiving a monthly death or retirement benefit as of the effective date, with the member's retirement or death occurring between September 1, 2004, and August 31, 2021. The adjustment is limited to the lesser of 6% of the monthly benefit or $100 per month. The TRS Board of Trustees must find the system to be actuarially sound and have sufficient funds available before making the adjustment. The bill takes effect immediately if it receives a two-thirds vote in both legislative chambers, or otherwise on September 1, 2021.