Bill > SB7

This bill relates to a one-time supplemental payment of benefits under the Teacher Retirement System of Texas (TRS). It requires TRS to make a one-time supplemental payment of up to $2,400 to eligible annuitants, including retirees, beneficiaries, and alternate payees, with effective retirement or death dates on or before December 31, 2020. The payment must be made by January 2022 and is in addition to regular monthly annuity payments. The bill specifies eligibility criteria and exemptions, and requires the TRS board of trustees to determine the payment's eligibility, amount, timing, and manner of distribution. The payment is contingent on the legislature appropriating sufficient funds to TRS above the state's required contribution.