TX SB573

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 qualifying date was after August 31, 2014, but before September 1, 2024 (for retirees) or September 1, 2025 (for death benefit and alternate payee recipients)

Excludes elected class members and their survivors from the adjustment, applying only to employee class annuitants

Requires the board of trustees to recompute monthly annuity amounts, with this adjustment being in addition to any previously granted cost-of-living adjustments