Today, the Texas House of Representatives passed Senate Bill 12 by Representative Greg Bonnen. With Senate Bill 12, Texas teachers can be confident that the Teacher Retirement System (TRS) Pension Trust Fund will be safeguarded for their future.
“The Texas House and Senate are committed to supporting our retired teachers. SB 12 and HB 9 are a testament to that. Teachers pour their lives into our students, and we will support them,” stated Representative Greg Bonnen.
Senate Bill 12 increases the state contribution to the TRS Pension Trust Fund from 6.8% to 8.8% of the statewide teacher salary cost. This increase would occur over the next five years and would account for a 29.4% increase in the state funding level. The bill also authorizes a supplemental payment or "13th Check" in the 2020-21 biennium to members who retired prior to 2017, providing a general supplemental payment of up to $2,400 or the retirees' regular annuity payment. These funds have already been secured in House Bill 1, the General Appropriations Act for the upcoming biennium, which was approved by the House on March 27th.
“Texas teachers should have peace of mind that their retirement fund is secure. By passing Senate Bill 12, the Texas House has held up its commitment to safeguarding our teachers’ future by increasing the state’s contribution to the TRS Pension Fund,” explained Chairman Dustin Burrows.
The Texas House Republican Caucus is comprised of all Republican Members serving in the Texas House of Representatives. The purpose of the Caucus is to provide research, education, policy development and other support to the Caucus Members and their staff.
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