Bill > SB174

This bill addresses a cost-of-living adjustment (COLA) for certain annuitants of the Teacher Retirement System of Texas, to be implemented in September 2025. The adjustment applies to various types of retirement and survivor benefit recipients, including standard service and disability retirees, beneficiaries, and alternate payees, with specific eligibility criteria. To qualify, annuitants must generally be receiving benefits from members who retired or died before January 1, 2025, and must be living on the effective date of the adjustment. The COLA is limited to the lesser of 3% of the monthly benefit or $200 per month, and does not apply to certain fixed-amount benefit payments or specific retirement plan scenarios. The board of trustees will determine individual eligibility and adjustment amounts. The bill will take effect immediately if it receives a two-thirds vote in both legislative chambers, otherwise becoming effective on September 1, 2025. This targeted adjustment aims to provide some financial relief to retired teachers and their beneficiaries by helping them keep pace with increasing living costs.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB174