Providing a 13th check for our retired teachers is yet another way we can honor their commitment to our children and to the future of Texas. Both the Texas House and Senate have unanimously approved a measure giving retired Texas public school teachers and staff a one-time check of up to $2,400. While PERS cannot predict the actions of the Legislaturethe only governing body with the authority to change retirement benefitsI feel confident that providing a COLA is recognized as being important to the retirement security of retirees.". These FAQs are a guide to common questions related to public benefits as a result of the 13th Check Payment. The Legislature has provided 13th checks to retired teachers during each of the last two sessions, as well as in 2007. The COLA benefit increase of 3.33% is based upon the state-mandated increase to the salary for actively employed judges and magistrates in positions covered by the Judges' Retirement System. The Senate can take action on the House bill as soon as the week of March 6. These FAQs are a guide to common questions related to public benefits as a result of the 13th Check Payment. 6:57 PM on Jul 13, 2021 CDT. 2023 Indiana House Democratic Caucus. Additionally, since 1994, retirees may receive the COLA in either monthly payments or in the lump sum form of a 13th check paid in December. And that's why the president of the Mississippi Alliance for Public Employees Brenda Scott is holding her breath for the session and asking retirees to pay attention. All PERS retirees and beneficiaries who have been receiving benefit payments for at least one full fiscal year (July 1 through June 30) are eligible to receive a COLA. 2023 Magnolia Tribune. INDIANAPOLIS State Rep. Gregory W. Porter (D-Indianapolis), Ranking Democrat on the House Ways and Means Committee, today offered a proposal to provide a 13th check for retired teachers and state employees. Can I waive or disclaim my right to receive the supplement payment? Dr. Robert Taylor, the state's new Superintendent, says there is much to celebrate about Mississippis progress in public education. EARLIER THIS YEAR: More than 400,000 retired Texas teachers receive 13th check today. The bill passed unanimously in the Senate 31-0 and 145-1 in the House. where Lt. Gov. 2006) was amended in 1999 to provide for the automatic 3 percent annual benefit adjustment that is used to calculate COLA amounts. We represent the interests of teachers, counselors, librarians, diagnosticians, custodians, cafeteria workers, bus drivers, nurses, teaching assistants, clerical employees, and the other employees who make our schools work. EARLIER THIS YEAR: More than 400,000 retired Texas teachers receive 13th check today. We have a tremendous number of bus drivers, cafeteria workers and others that do not collect Social Security. A service of the Moody College of Communication at the University of Texas at Austin | Contact us, A service of the Moody College of Communication at the University of Texas at Austin. The checks should be in an amount either equal to their regular annuity payment or $2,400, whichever is less. Teachers who retired after Sept. 1, 2004 have never seen a cost-of-living increase to their pension plan. The Legislature has provided 13th checks to retired teachers during each of the last two sessions, as well as in 2007. INDIANAPOLIS State Rep. Gregory W. Porter (D-Indianapolis), Ranking Democrat on the House Ways and Means Committee, today offered a proposal to provide a 13th check for retired teachers and state employees. At that rate of increase, the 13th Check could exceed $1 billion before the end of the next decade due to the manner in which the benefit is calculated. 1. All rights reserved. The bill gives retired teachers, counselors and school staff in the Teacher Retirement System of Texas (TRST) who retired on or before Dec. 31, 2020, an additional, one-time retirement check. The payment has been dubbed a 13th check an addition to retired teachers monthly pension checks. The Texas AFT Legislative Team lobbied for and supported the passage of this bill but have continued to push legislators to pass a much needed and much overdue cost of living adjustment to permanently increase the regular monthly payments which TRS members receive. Built by Moticos Studios. The bill was referred to the Senate on February 15. Retired teachers in Texas have not received a cost-of-living increase since 2013. Allrights reserved. Its Now Easier To File A Complaint In Texas, The Long Road To A New Performing Arts Center In Frisco, Heel To Toe: This Little Cowboy Has A Boot Obsession, Abortion Activists Say Pregnant Texans Are Collateral In Senate Bill 8s Battle Against Abortion, In a Central Texas county, high schoolers are jailed on felony charges for vaping what could be legal hemp, As Texas STAAR test goes fully online, teachers feel defeated, Texas Education Agency projects confidence. TRTA members, we are at a pivotal time. INDIANAPOLIS State Rep. Gregory W. Porter (D-Indianapolis), Ranking Democrat on the House Ways and Means Committee, today offered a proposal to provide a 13th check for retired teachers and state employees. He says if there's every going to be a change, it may well be that. Texas AFT is affiliated with the American Federation of Teachers and AFL-CIO. The bill passed unanimously in the Senate 31-0 and 145-1 in the House. Earning your trust every day. This would be the first 13th check retirees have received since 2007. Zeph Capo, president of the Texas American Federation of Teachers, says while a 13th check is most certainly helpful in mitigating some of the harm thats been done to retirees in the form of stagnant annuities, its certainly not enough. Instead, the teachers union would prefer lawmakers look at a permanent cost of living adjustment that ensures that the system will be able to keep up with inflation. "The fact is that employees worked their career at the state for that promise. All PERS retirees and beneficiaries who have been receiving benefit payments for at least one full fiscal year (July 1 through June 30) are eligible to receive a COLA. 2005: $211,530,000, As JJ states in their analysis, The funding level has fluctuated around 60% over the last five years despite two employer contribution increases of 300 basis points. Can I waive or disclaim my right to receive the supplement payment? The work needed to get the Legislature to pass a COLA for TRS retirees does not begin in January: it starts NOW. WebRetired Judges plan members will receive a 3.33% cost-of-living adjustment (COLA) effective July 1, 2022. Teacher's Retirement System. Texas AFT represents all non-administrative certified and classified public school employees in the state of Texas. 2009: $312,471,000 ($31 million) Passing Voting Bill Priority In Last Days Of Second Special Session, Orange Countys Running Two Hurricane Ida Shelters Amid Severe Coronavirus Spread, I Will Never Tell Anyone Theres No Hope San Antonio Afghans Who Helped US Troops Fear For Their Families, Sexually Harassed At Work? More Than 650 Texas Laws Go Into Effect Sept. 1. Earning your trust every day. 6:57 PM on Jul 13, 2021 CDT. "Representative Jeff Smith tried to calm retirees fears via Facebook. Questions arise about future of public retirees' 13th check, Former wrestler tied to TANF scandal pleads guilty to conspiracy in federal court, 42K Mississippians without power after strong winds cause outages, Request a First Alert Weather School Visit. "Rumors are about 90 percent of the way things happen here at the Capitol and they're always based on something that was heard," added Representative Jay Hughes.Representatives Tom Miles and Jay Hughes have posted concerns over a rumor that there might be a push next year to do away with the "COLA" (13th check) for retirees during the coming session. It's known as the 13th check. Its not fixing the structural problem we have with the system, he said. Providing a 13th check for our retired teachers is yet another way we can honor their commitment to our children and to the future of Texas. Only the Texas Legislature can approve a COLA for TRS retirees. These FAQs are a guide to common questions related to public benefits as a result of the 13th Check Payment. The COLA is equal to 3% of the annual retirement allowance for each full fiscal year of retirement up to the year in which the retired member reaches age 60 (55 for those who became members of PERS before July 1, 2011), with 3% compounded for each fiscal year thereafter. Its an appreciated one; its certainly better than nothing, absolutely. This week the Teacher Retirement System of Texas (TRS) announced that retired teachers will be receiving their one-time supplemental benefit check (commonly referred to as a 13th check) next Friday, January 14. INDIANAPOLIS State Rep. Gregory W. Porter (D-Indianapolis), Ranking Democrat on the House Ways and Means Committee, today offered a proposal to provide a 13th check for retired teachers and state employees. The work needed to get the Legislature to pass a COLA for TRS retirees does not begin in January: it starts NOW. 2013: $437,808,691 ($36 million) Jackson Jambalaya recently provided an analysis of the PERS annual COLA, outlining the year-to-year data from the PERS Comprehensive Annual Financial Reports (CAFR), shown below: 2019: $699,947,000 ($50 million) Additionally, since 1994, retirees may receive the COLA in either monthly payments or in the lump sum form of a 13th check paid in December. 13th Check to Retired Teachers Will Be Issued in January 2022 Posted on September 17, 2021 by hinojosa AUSTIN, TX Today, the Teacher Retirement System of Texas (TRS) adopted a resolution directing TRS staff to prepare and issue the 13th check authorized by the Texas Legislature during the Second Called Special Session. This week the Teacher Retirement System of Texas (TRS) announced that retired teachers will be receiving their one-time supplemental benefit check (commonly referred to as a 13th check) next Friday, January 14. A one-time check up to $2,400 is a welcome gesture for retired teachers whose annuities have stagnated. For more information on the release of this one-time supplemental payment, check out the FAQ on the TRS website. Copyright 2017 MSNewsNow. COLAs help ensure that retiree purchasing power remains relatively the same no matter how long a retiree may live and how quickly prices might rise. The amendment was ruled out of order and therefore not granted a vote. Millions of Texans have rare diseases. But is it ultimately just a drop in the bucket? Gulf of Mexico warming at faster rate than global ocean, study finds, At these old-school restaurants in Texas, you feel like its an extension of your home, Greg Abbott says if these corporate tax breaks return, renewable energy should be excluded. The Senate can take action on the House bill as soon as the week of March 6. The Public Employees Retirement System of Mississippi (PERS) annual cost of living adjustment, otherwise known as the 13th Check, has grown nearly $400 million over the last decade. Only the Texas Legislature can approve a COLA for TRS retirees. Retired teachers in Texas have not received a cost-of-living increase since 2013. By Jill Ament and Wells DunbarAugust 31, 20212:18 pmBusiness & Your Money, Education, Government & Politics. We shouldn't back up on it. All rights reserved. 2015: $517,283,072 ($41 million) The bill gives retired teachers, counselors and school staff in the Teacher Retirement System of Texas (TRST) who retired on or before Dec. 31, 2020, an additional, one-time retirement check. where Lt. Gov.