Bill > HB1729

This bill proposes to provide a one-time supplemental payment to eligible annuitants of the Teacher Retirement System of Texas (TRS). The supplemental payment would be equal to the lesser of the annuitant's regular monthly annuity payment or $3,000, and would be payable by September 2024. To be eligible, the annuitant must have been receiving a retirement or death benefit from TRS prior to January 1, 2023. The bill specifies that the supplemental payment is in addition to, and not in lieu of, the annuitant's regular monthly payment. The TRS board of trustees would be responsible for determining the eligibility, amount, and timing of the supplemental payments, but the payments can only be made if the legislature appropriates sufficient funds to TRS beyond the state's regular contribution.