Legislative committees consider TRS changes
Date Posted: 4/10/2013 | Author: Jennifer Mitchell, CAE
In an attempt to make the system actuarially sound, two identical bills that propose a number of Teacher Retirement System (TRS) changes—Senate Bill (SB) 1458 and House Bill (HB) 1884—were reviewed on Monday by the Senate State Affairs Committee and the House Pensions Committee, respectively. Both bills were left pending: Each was introduced by the committee chairmen as a “work in progress” for the purpose of obtaining fiscal information about the effects of these changes. ATPE’s legislative program contains positions that support:
- Keeping the system sound in order to prevent attempts to privatize the system as a defined contribution (401(k)-type) system.
- Increasing state and active member contribution rates, which would help provide a cost-of-living adjustment (COLA) for retired educators.
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