Texas House Sends Three More Bills to Senate on May 8 05.11.2015 — On Friday, in addition to amending HB 3453 (which the House passed on third reading Monday, May 11) to order an interim study on the impact of proposed changes to TRS-ActiveCare rather than voting to make those changes, the House also passed several bills.
Urgent: Ask House Members to Vote NO on HB 3453 05.04.2015 — On Wednesday, the House is set to consider HB 3453, which would allow districts to opt in and out of participation in TRS-ActiveCare and would authorize TRS to establish a regional rating method for determining premiums. TASA encourages school leaders to contact their House members and urge them to vote NO on HB 3453.
Senate Finance Discusses TRS Pension and Health Insurance Plans 02.11.2015 — The Texas Senate Finance Committee met today to discuss the health of the TRS pension and health insurance programs. TRS staff testified that the pension system was actuarially sound, and there was a 16 percent return on investments last year. However, agency staff expressed concern over an expected $768 million shortfall during the next biennium with TRS-Care due to health insurance costs outpacing contributions.
Senate Finance Committee Meets Feb. 9 on Education Funding 02.03.2015 — The Senate Finance Committee is scheduled to begin hearing testimony on the state budget related to education funding on Feb. 9 at 11 a.m. and on TRS on Feb. 11 at 9 a.m. The committee will discuss Article III, and specifically TEA.
TRS Issues FAQ on GASB Changes 02.03.2015 — After receiving questions related to the recent changes to GASB rules (Rule 67 & 68), TRS staff created a one–page FAQ document to assist in implementing and communicating what the new changes mean for districts. The rules separate pension accounting from pension funding. GASB considers TRS a multi-employer, cost-sharing pension plan. This means that the unfunded net pension liability must be allocated among all participating employers proportionately.
Senate State Affairs Committee Discusses TRS Issues 12.10.2014 — The Senate State Affairs Committee met today to discuss the following interim charge: Monitor the actuarial and financial conditions of the pension and health care programs administered by the Teacher Retirement System (TRS) and the Employees Retirement System (ERS).
TRS Board Makes Minor Adjustments to TRS–Care Benefits 06.11.2014 — The TRS board made several changes to TRS–Care benefit plans to comply with the Affordable Care Act. Deductibles and co–insurance paid by TRS–Care 2 & 3 will now be counted to satisfy the out-of-pocket maximum beginning with the 2014-15 plan year.
Legislative Update 05.24.2013 — With three days left in the 83rd legislative session, many bills are still on the move and many others are still being negotiated in conference committees. Bills that remain in limbo include HB 5, the budget bills, SB 2 on charters, the TRS bill, and HB 2836, the bill that addresses testing in grades 3-8.
Important TRS Information – Update on SB 1458 05.08.2013 — On Wednesday, the Senate passed SB 1458 by Sen. Robert Duncan by a vote of 30-0. SB 1458 gets the TRS pension fund actuarially sound within the 31-year funding period to ensure the continuation of the current defined benefit pension program, and provides a Cost of Living Adjustment (COLA) for some retirees.
Important TRS Information–Update on SB 1458 05.02.2013 — The Senate could consider SB 1458 by Sen. Robert Duncan as early as Friday. SB 1458 seeks to get the TRS pension fund actuarially sound within the 31-year funding period to ensure the continuation of the current defined benefit pension program, and provide a Cost of Living Adjustment (COLA) for some retirees.
Committees Consider Major Changes to TRS Pension and TRS Care 04.09.2013 — On Monday, the Senate State Affairs and House Pensions Committee heard testimony on significant proposed changes to TRS in SB 1458 by Sen. Duncan and HB 1884 by Rep. Callegari. While laying out the committee substitute, Sen. Duncan noted the importance of keeping the current defined benefit structure in place, ensuring the system is actuarially sound, and the need to give retirees a cost-of-living adjustment (COLA).