Bill > HB1961

This bill requires the Teacher Retirement System of Texas (TRS) to provide a one-time supplemental payment to eligible annuitants, up to $3,000, by September 2024. To be eligible, a person must be an annuitant receiving a standard retirement, optional retirement, life, or guaranteed period annuity payment as of December 31, 2022. The supplemental payment is in addition to the regular monthly annuity and is subject to applicable tax withholdings. The TRS board of trustees will determine the eligibility, amount, and timing of the payments, but TRS is only required to make the payments if the legislature appropriates sufficient funds beyond the state's regular contributions to the retirement system.