Bill > HB4802

This bill addresses cost-of-living adjustments for retired judges in Texas who are part of the Judicial Retirement System Plan One or Plan Two. Specifically, the bill provides for a 5% increase in monthly annuity payments for retirees and beneficiaries whose retirement or death occurred on or before September 1, 2024. These increases will be implemented in two stages: first on September 1, 2025, and again on September 1, 2026, with each stage applying a 5% multiplier to the existing monthly annuity amount. However, these cost-of-living adjustments are contingent upon the Texas Legislature appropriating sufficient funds to cover the increases without increasing the system's unfunded actuarial liabilities. The Employees Retirement System of Texas will be responsible for implementing these adjustments, and if adequate funding is not provided, the increases will not be made. The bill will take effect on September 1, 2025, and will only apply to annuity payments becoming payable on or after that date, providing a mechanism to help retired judges maintain their purchasing power in the face of inflation.

Labor and Employment

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB4802