And its possible.. Educating children isnt a partisan decision. Texas has spent millions of dollars sending busloads of migrants to Democratic-led cities. The bill calls for a 2% raise for teachers who retired between Sept. 1, 2013, and Jan. 1, 2022, and a 4% raise for those who retired before Sept. 1, 2013. And besides missing cost-of-living increases, many retired teachers are actually getting slightly smaller monthly checks this year because of changes to the IRS formula for calculating withholdings. Employers are authorized to use local funds or other sources of funds to supplement the General Revenue Fund appropriation at a rate up to 1.9 percent. And so until they receive that increase in wages to restore the purchasing power of their current income, retiring is still going to be faced with the reduced purchasing power based on their low wages relative to the inflation rate that they earned this year. The fund has about $204 billion, and its current assets cover about 77 percent of the benefits it has promised to pay over time. The worry that we have as an association between now and the time the next legislative session rolls around is, what if the markets have a serious correction? Hundreds of thousands of retired Texas teachers could get a $7,500 check and a one-time cost-of-living adjustment through a bill with sweeping . Texas government employees' retirement plans - The Texas Tribune Whoever sends the most texts by May 24 will receive a $100 gift card! The Teacher Retirement System provides monthly payments to more than 475,000 retired Texas teachers. The Texas House Pensions, Investments, and Financial Services Committee (PIFS) met on Monday, June 6, 2022, to review and evaluate the actuarial soundness of the Teacher Retirement System of Texas (TRS) pension fund and to study possible benefit enhancements, including a cost-of-living adjustment (COLA), for TRS retirees. If a cost-of-living adjustment had been in effect for retired teacher pension payments, as it is for Social Security, a Texas retiree who began receiving $2,000 per month in 2004 would now be getting almost $3,000 per month. If we were just in a vacuum where we didnt have rising costs of living and it was just a question of income tax raises or federal tax changes, most retirees would be relatively neutral with a decreasing amount over time, because the feds want a little more..