TX HB343

Provides a cost-of-living adjustment (COLA) for Employees Retirement System of Texas annuitants beginning with payments for January 2026

Grants a 7% increase for retirees, disability retirees, death benefit recipients, and alternate payees whose retirement, death, or election date was on or before August 31, 2014

Grants a 4% increase for those whose retirement, death, or election date was after August 31, 2014 but before September 1, 2024 (or September 1, 2025 for death benefits and alternate payees)

Applies to employee class members receiving service retirement, disability retirement, death benefit, or optional annuity payments; excludes elected class members and their survivors

Requires annuitants to be eligible for payment as of December 2025 and living on the effective date of the adjustment to qualify