Legislative Session News Archive
Regular Session News #10: House includes IUAL payments in budget bill
May 5, 2023
Yesterday, the full House amended and passed House Bill 1 (Rep. Zeringue), the legislation that provides for the operating expenses of state government for FY 2024. Amendments to HB 1 included a $444.3 million appropriation to TRSL to reduce the initial unfunded accrued liability (IUAL). The proposed FY 2024 appropriation would cover the scheduled employer payments to the IUAL for that fiscal year and make an additional payment on this debt. The ...
Regular Session News #10: House includes IUAL payments in budget bill
May 5, 2023
Yesterday, the full House amended and passed House Bill 1 (Rep. Zeringue), the legislation that provides for the operating expenses of state government for FY 2024. Amendments to HB 1 included a $444.3 million appropriation to TRSL to reduce the initial unfunded accrued liability (IUAL). The proposed FY 2024 appropriation would cover the scheduled employer payments to the IUAL for that fiscal year and make an additional payme...
Regular Session News #9: Social Security resolutions advance
May 3, 2023
Today, the House Retirement Committee met and favorably reported three resolutions that would affect TRSL or its members: House Concurrent Resolution 67 (Rep. M. Johnson) requests that Congress take actions necessary to review the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP) Social Security benefit reductions and eliminate or reduce them by supporting H.R. 82 and S. 597 of the 118th Congress and all similar fe...
Regular Session News #8: Amended PBI funding bill deferred in Senate Finance
May 2, 2023
On Monday, the Senate Finance Committee amended and deferred Senate Bill 18 (Sen. Price/co-sponsored by Senate President Cortez). SB 18 would establish a new model for providing permanent benefit increases (PBIs) to retirees and beneficiaries of the four state retirement systems for teachers, state employees, school employees, and state police. The new model changes the funding mechanism, granting criteria, and eligibility criteria for f...