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TRTA Inside Line

August 16, 2018
Lt. Gov. Dan Patrick and State Senator Joan Huffman Pen Letters Requesting TRS Avoid Raising TRS-Care Premiums
The Lieutenant Governor of Texas, Dan Patrick, sent a letter to the Teacher Retirement System (TRS) Board of Trustees regarding the retiree health care program, TRS-Care. Patrick is asking the TRS Board not to raise retiree premiums for TRS-Care. This letter was bolstered by a similar letter from Senator Joan Huffman (R – Houston), Chairman of the Senate State Affairs Committee. Senator Huffman’s committee is charged with oversight of matters related to TRS in the Texas Senate. The board is considering raising the health care premiums for non-Medicare participants by $50 per month starting in Jan. 2019. The board is...
July 31, 2018
Special Message About TRS Changing Rate of Return Assumption
Dear TRTA Members, The major action by the Board of Trustees to lower their investment rate of return assumption from 8 percent to 7.25 percent will shape our state’s public policy on TRS for years to come. TRTA is grateful to all the TRS Trustees for their long deliberation of this issue. This decision did not come easy and it did not occur without serious thought given to its wide-ranging ramifications. We will direct all our efforts to ensure adequate funding is achieved for the pension fund. Ultimately, the real focus must now be on our legislative activity. We must...
July 27, 2018
Teacher Retirement System of Texas Votes 5-4 to Lower Rate of Return Assumption
All eyes turn to next session as pension and health care programs both need higher contribution levels. Executive Summary: TRS lowers rate of return assumption to 7.25 percent. Change to rate of return assumption doesn’t impact current retiree benefits. However, it will require the Legislature to provide additional funding for retirees to receive a cost-of living increase. Look forward to a special message from Tim Lee on Monday, July 30. The Teacher Retirement System of Texas (TRS) Board of Trustees voted 5-4 today to lower its investment rate of return assumption to 7.25 percent. Previously, the rate of return assumption...
July 24, 2018
TRS Board of Trustees Set to Meet July 26-27, Likely to Adopt Changes to Rate of Return Assumption
Executive Summary: Watch the TRS Board of Trustees Meeting on July 27. TRS Board is likely to reduce rate of return assumption. Texas will need to increase its contribution to TRS to ensure retirees can receive a cost-of-living increase. The Teacher Retirement System of Texas (TRS) Board of Trustees are scheduled to meet on July 26-27. The most pressing issue for the board to vote on is the rate of return assumption. The agenda for the meeting is available here. There will be live webcasts for July 26 and July 27. The Texas Retired Teachers Association (TRTA) believes it is likely that the board...
May 11, 2018
Texas House Pensions Committee Meets, Discusses Funding For TRS-Care and TRS Pension Plan
The Texas House Pensions Committee met yesterday in Dallas to discuss the status of the Teacher Retirement System’s (TRS) pension plan and TRS-Care. The committee reviewed the changes that occurred last session to TRS-Care and discussed the funding issues surrounding the retiree health care program, which is expected to have a shortfall in excess of $400 million during the 2019 biennium. TRS Executive Director Brian Guthrie provided testimony about the funding needs of TRS-Care. He discussed how the program had undergone significant changes since the end of the Legislature’s Special Session. However, the changes made last session will still leave...
May 4, 2018
House Pensions Committee to Meet in Dallas May 10
House Pensions Committee to Meet in Dallas May 10 The Texas House Pensions Committee is scheduled to meet in Dallas on Thursday, May 10 and will discuss a variety of issues pertinent to Texas public education retirees. The Texas Retired Teachers Association (TRTA) encourages any and all members living in the Dallas area to attend the meeting if possible. Issues being discussed on this day include the immediate and long-term solvency and plan design of TRS-Care and TRS Active-Care health insurance plans, as well as ways to improve defined benefit pension plans. To view a full meeting agenda, please click...
April 26, 2018
Texas Primary Runoff Races to Watch!
A Letter From TRTA Executive Director Tim Lee: Dear TRTA members, supporters and friends, The information you have below is a great explanation of why you should vote and where you can find information about candidates. Many people who see this information may feel incredibly frustrated. Many people just want one simple answer to the statement: “just tell me who to vote for.” Well, here is the deal: TRTA does not endorse candidates. Even if I personally wanted to answer your question, TRTA does not endorse and I cannot tell who to vote for. I knew you’d be frustrated when...
April 23, 2018
Primary Runoff Elections: Last Day to Register to Vote is TODAY!
The Texas Retired Teachers Association (TRTA) and its members know the tremendous value their vote has in every election, especially the Primary Election. Now, we are nearing a critical voting time as runoff elections for the Primary Election are set to begin soon. There are several key races that TRTA knows will be critical, and TRTA will begin sharing detailed information about those races starting tomorrow. Most importantly, many elections for a seat in the Texas Legislature will be decided by just a handful of votes! Your vote has more power now than ever! Why? Because many registered voters do...
April 20, 2018
TRS Board Meets, Votes on Rate of Return Assumption
The Teacher Retirement System of Texas (TRS) Board of Trustees met today to discuss changing the rate of return assumption for the pension fund. The TRS Board of Trustees took two votes on changing the rate of return assumption. Neither vote passed. As a result, the board will postpone voting on the issue again until its July meeting. The first vote to change the rate of return assumption was proposed by Trustee James Nance. Nance and three other members voted to change the rate of return assumption to 7.5 percent. However, the measure required five votes to pass. Subsequently, Trustee...
April 19, 2018
TRS Board Holds Committee Meetings, Committee Recommends Changes to TRS-ActiveCare
The TRS Board of Trustees held committee meetings today. The five TRS Board committees discussed issues relevant to the full meeting tomorrow. The most pressing issue concerning TRS retirees is a change to the rate of return assumption, which was not discussed today, but will be voted on during tomorrow’s meeting. As previously reported, TRS is considering changing the pension fund’s rate of return assumption from 8 percent to 7.25 percent. If this change occurs, it will significantly push back the time line for a cost-of-living adjustment for retirees. The Texas Retired Teachers Association (TRTA) will testify at tomorrow’s meeting....