Bill > SB93

This bill relates to a one-time cost-of-living adjustment applicable to certain benefits paid by the Teacher Retirement System of Texas. Specifically, it provides a cost-of-living adjustment for eligible annuitants, such as retirees, beneficiaries, and alternate payees, whose retirement or death of the member occurred between August 31, 2004 and August 31, 2015. The adjustment is limited to the lesser of 3% of the monthly benefit or $100 per month, and it takes effect in September 2017. The bill excludes certain annuities that are fixed by statute from receiving the adjustment.