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TX HB5171
Bill
Status
3/14/2025
Primary Sponsor
Richard Hayes
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AI Summary
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Establishes a 3% annual cost-of-living adjustment for service retirement, disability retirement, and death benefits paid to annuitants under the Judicial Retirement System of Texas Plan One and Plan Two, beginning September 1, 2026
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Provides a one-time supplemental payment in September 2025 equal to the gross amount of the annuitant's regular August 2025 benefit payment
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Eligible recipients include those receiving standard retirement annuities, optional service retirement annuities (as retiree or beneficiary), disability retirement annuities, or death benefit annuities
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Requires the Employees Retirement System of Texas board of trustees to verify the legislature appropriated sufficient funds before implementing the adjustment or supplemental payment, to avoid increasing unfunded actuarial liabilities
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Effective date is September 1, 2025
Legislative Description
Relating to providing a one-time supplemental payment and an annual cost-of-living adjustment applicable to certain benefits paid by the Judicial Retirement System of Texas Plan One and Judicial Retirement System of Texas Plan Two.
Retirement Systems
Last Action
Referred to Pensions, Investments & Financial Services
4/7/2025