This week Texas AFT submitted comments to the Texas Sunset Advisory Commission to be considered during its review of the Teacher Retirement System of Texas (TRS). These comments were in response to the Sunset Staff Report that came out earlier this month and incorporated feedback Texas AFT has received from members suggesting ways TRS could improve its operations.
While Texas AFT largely agrees with the review’s findings, the Commission should also recommend the Legislature preserve TRS funding from the state at its current investment level of 7.5% or better. That investment ensures retirees in Texas can maintain a secure form of income, and the state keeps its promise that current and future school district employees will have the pensions they have earned through years of service to Texas students. Given the hit to the state’s budget due to the shutdowns over the coronavirus pandemic and unprecedented drop in oil prices, our need to protect public pensions and to maintain a healthy retirement system that serves members well has never been greater. Read Texas AFT’s comment and recommendations to the TRS Sunset Staff Report here.
The Sunset Commission will conduct a public hearing to take testimony in response to the staff report and the agency overall. It will meet again later this year to vote on which changes to recommend to the Texas Legislature. The hearings are scheduled to take place this calendar year, but so far dates have not been set. Texas AFT will continue to monitor the Sunset Review process and update members of any changes.