As passed by the Texas House today, the session’s major bill on Teacher Retirement System benefits, SB 1458, includes four key elements of a fair deal:
- It exempts all current school employees from adverse benefit changes;
- It provides cost-of-living relief to nearly all current retirees;
- It raises state contribution rates and provides that state and district contributions combined will exceed employee contributions; and
- It phases in higher employee contributions gradually over four years.
Now the Senate needs to be persuaded to accept the House amendments that put the first two of those four elements in place. Please be ready to act on an alert tomorrow to send your legislators a message of support for the bill as amended by the House.