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TX HB5156
Bill
Status
3/14/2025
Primary Sponsor
John Bryant
Click for details
AI Summary
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Provides a one-time 6% cost-of-living adjustment (COLA) for Teacher Retirement System annuitants beginning January 2026, applicable to those whose retirement or death benefit effective date was before January 1, 2025
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Establishes an annual COLA mechanism tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), matching the same inflation measure used for Social Security benefits
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Requires the TRS board of trustees to set the annual adjustment rate during the last seven days of October each year for the following calendar year
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Conditions the one-time 6% COLA on the legislature appropriating sufficient funds to cover the payment without increasing the retirement system's unfunded actuarial liabilities
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Allows the board to pay a reduced annual COLA if full funding is unavailable, provided the system remains actuarially sound, and prohibits any increase if the system is not actuarially sound
Legislative Description
Relating to cost-of-living adjustments applicable to certain benefits paid by the Teacher Retirement System of Texas.
Retirement Systems
Last Action
Referred to Pensions, Investments & Financial Services
4/7/2025