FOR IMMEDIATE RELEASE 02/27/2019
Rep. Allison Files Legislation to Stabilize Solvency of Teacher Retirement Programs
AUSTIN—Rep. Steve Allison (San Antonio) today filed House Bill 2505, which gives a one-time, $660 million appropriation from the Texas Economic Stabilization Fund to the Teacher Retirement System of Texas, and a one-time $440 million appropriation from the Economic Stabilization Fund to the retired school employees group insurance fund.
“Texas school teachers work hard to help our students receive a quality education that helps prepare them to compete in the workforce, contribute to their communities and take care of themselves and their families. It’s time we ensure they receive the retirement benefits they earned,” Rep. Allison said. “These critical, one-time investments will leverage the dollars in our state’s Rainy Day Fund to help stabilize and maintain the solvency of these important retirement programs for Texas educators, at no extra cost to Texas taxpayers.”