Teacher Retirement System

HB 2
Otto, et al.
Funding for TRS-Care Shortfall

Includes $768 million to cover the shortfall in TRS-Care.

Earliest effective date: Immediately

HB 1937
Darby
Revocation of Deferred Retirement Option Plan (DROP) Participation

Allows certain members or beneficiaries of TRS who participate in DROP to revoke the decision to participate in the plan on a form prescribed by TRS by December 31, 2015.

Earliest effective date: September 1, 2015

HB 2168
Muñoz
Monthly Annuity Payment Date

Provides that monthly annuity payments under TRS are payable on the last working day of the month for which the payment accrues rather than the first working day of the month following the month for which the payment accrues.

Earliest effective date: September 1, 2015

HB 2974
Flynn
Membership Eligibility, Definition of Annual Compensation

Amends various provisions of statute related to TRS. Changes the definition of “annual compensation” to mean the compensation to a TRS member for service during a 12-month period determined by TRS rather than during the school year. Provides that TRS membership can be established only through employment with a single employer on at least a half-time basis.

Provides that the Open Meetings Act does not apply to an assembly of the TRS Board of Trustees or a committee while attending an event held for educational purposes, if the assembly or committee does not deliberate, vote, or take action on a specific matter of public business or policy over which the board or committee has supervision or control.

Creates a joint interim committee to study and review the health benefit plans, including TRS-Care and TRS-ActiveCare and to examine the following issues: (1) the financial soundness of the plans; (2) the cost and affordability of plan coverage; and (3) the sufficiency and access to physicians and health care providers under the plans. Requires the committee to study the impact of allowing districts to opt of TRS-ActiveCare programs and the impact of establishing regional rating methods for determining premiums.

Provides that the committee is to be composed of three senators appointed by the lieutenant governor and three members of the House of Representatives appointed by the speaker. Requires the committee to report findings and recommendations to the lieutenant governor, speaker, and governor by January 15, 2017.

Earliest effective date: September 1, 2015

SB 940
Taylor, Van
Investment Holdings in Sudan or Iran

Changes the deadline for a state retirement system to notify the state comptroller or the State Pension Review Board regarding investments in Sudan or Iran. Provides that the notice must be given no later than the 30th day after the date the entity receives the list of direct or indirect holdings.

Earliest effective date: September 1, 2015

SB 1940
Huffman
Study of Health Benefit Plans

Creates a joint interim committee to study, review, and propose reforms to the TRS-Care and TRS-ActiveCare programs. Requires the committee to examine and assess the financial soundness of the plans, the cost of and affordability of plan coverage, and the sufficiency and access to physicians and health care providers under the plans. Requires the committee to report its findings and recommendations to the lieutenant governor, speaker, and governor by January 15, 2017.

Provides that the committee is to be composed of three senators (appointed by the lieutenant governor) and three members of the House of Representatives (appointed by the speaker).

Earliest effective date: Immediately
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