Bill > SB252

This bill proposes to provide a one-time cost-of-living adjustment (COLA) to certain annuitants receiving monthly death or retirement benefit annuities from the Teacher Retirement System of Texas (TRS). The COLA would apply to eligible retirees, beneficiaries, and alternate payees who retired or had a member die after August 31, 2004, and on or before August 31, 2017. The adjustment is limited to the lesser of 3% of the monthly benefit or $100 per month, and the TRS Board of Trustees would determine eligibility and the amount. The bill would take effect immediately if it receives a two-thirds vote in both legislative chambers, or on September 1, 2019, if it does not.