Lt. Gov. Dan Patrick and others are pushing a one-time pay bump over a permanent...
Norma Maldonado, center, chats with a friend during the San Antonio Area Retired Teachers Association member meeting held at San Antonio Garden Center in San Antonio, Texas, Wednesday, Feb. 16, 2022.The Texas House and Senate want to send more money to retired teachers this session to help with inflation. But lawmakers are still figuring out whether it will a one-time infusion or a permanent adjustment to their monthly checks to account for inflation.
While the Texas House is more open to an ongoing cost-of-living adjustment, or COLA, the Senate is leaning more toward a one-time supplemental payment, often called “13th checks.” Although social security checks fluctuate with inflation trends, TRS benefits do not, meaning the recent high levels of inflation have hit retired Texas teachers especially hard. Adjusted for inflation, the payment for a 2004 retiree earning $3,000 a month would now be $4,728.08, but the actual amount remains unchanged.
As a rule of thumb, Guthrie said, a 1 percent, across-the-board adjustment for all retired teachers would cost the state about $1.1 billion, if paid for up-front.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Texas Gov. Greg Abbott hits road to tout school voucher planTexas Gov. Greg Abbott hopes renewed interest in parental rights will help his plan to push private school vouchers through the Texas Legislature.
Read more »
Editorial: Is TEA takeover of Houston ISD about kids or politics? One way to know.Gov. Greg Abbott and Texas Education Agency Commissioner Mike Morath must focus on...
Read more »
Florida Gov. Ron DeSantis heads to Texas as poll shows he has 'crossed a threshold here'DeSantis has roughly the same favorability among Texans as former President Donald Trump,...
Read more »
Ahead of Texas visit, Florida Gov. Ron DeSantis has 'crossed a threshold here' with votersDeSantis has roughly the same favorability among Texans as former President Donald Trump, findings suggest.
Read more »
Texas lottery's biggest winners from Houston, Texas and beyondData from the Texas Lottery Commission gives us insight into where Texas' biggest winners...
Read more »