Smiley face

Three Teacher Retirement Bills Passed by Texas Legislature

AUSTIN- Late Tuesday evening the Chairman of the House Pensions Committee Dan Flynn (R-Van) passed three bills in succession that address the Teacher Retirement System (TRS). All three bills provide necessary updates and revisions to TRS codes, administration, and regulations.
“The teachers of Texas provide one of the most vital services to this state in educating our children. They work long hours and invest so much of their time and energy into our children, they shouldn’t have to worry about their retirement as well. These bills will give them that peace of mind, and I am proud to have sponsored them in the House,” said Chairman Flynn.
Senate Bill 1663, 1664, and 1665 were authored by Senator Joan Huffman (R-Houston) before being sponsored by Chairman Flynn in the House. The first of the three bills, SB 1663, focuses on member benefit changes and administrative updates. Certain revisions to applicable state law are necessary to ensure that TRS can efficiently deliver its benefits.
The second bill, SB 1664, provides IRS code compliance and statutory corrections. Specifically, the bill addresses errors in health care reporting made by previous sessions, clarifies certain definitions inside policy, and updates member benefit policies.
SB 1665, the final bill, ensures the investment capabilities within the TRS and their continued authorization and additionally repeals the sunset dates on the authorities.
“The policies in these bills correct a wide range of issues that needed to be addressed within the Teacher Retirement System. I believe these fixes will serve the Teachers of Texas as well as they have served us,” said Chairman Flynn.

Author: Staff Reporter

Share This Post On
bobcat tractor

Bobcat of North Texas Wants You to Know...

Now is the time to invest in a Bobcat® Compact Tractor at Bobcat of North Texas. As the economy continues to expand, construction and construction equipment is in high demand and Bobcat® promises to be at the heart of it all. Demand for Bobcat® equipment is at an all time high, and we want to make sure you get the equipment and attachments you need to make your land your own.

bobcat loader
bobcat loader
bobcat loader
Construction is Booming

Bobcat® equipment is legendary and construction companies know it. Thats why we are taking orders months in advance. We don't want you to fall behIind the competition. Contact us today to get your Bobcat of North Texas order placed.

PlayPlay
Shadow