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Committees approve TRS measures

Teach the Vote
Teach the Vote

Date Posted: 4/22/2013 | Author: Jennifer Mitchell, CAE

The Senate State Affairs Committee approved Senate Bill (SB) 1458 earlier today 6–3. The version of the bill approved today still requires educators to work until the age of 62 and reach the rule of 80 before being eligible to retire with full benefits. The same requirements would also apply to TRS-Care retiree health insurance eligibility. Committee Chairman Sen. Robert Duncan (R–Lubbock), who described the bill as a work in progress, did make one positive change to the bill. The original bill called for a 5 percent penalty in the annual pension amount for each year that an educator does not reach age 62. The version approved today reduces that penalty to 2 percent for members who are vested in the system, meaning that they have served at least five years, by Aug. 31, 2014. The bill will next move on for consideration on the Senate floor. ATPE will continue to monitor the progress of this bill and its House counterpart, House Bill 1884. Stay tuned for updates. UPDATE: The House Pensions Committee also passed the House version of the bill, HB 1884, with the same change made to the Senate version.


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