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.
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