The Teacher Retirement System of Texas (TRS) Board of Trustees convened in Austin last week for its quarterly meeting.
At the hearing, the board discussed the disbursal of one-time stipend checks for retirees 70 and older. These stipend payments are a component of Senate Bill 10 by Sen. Joan Huffman (R-Houston), which also includes the TRS cost-of-living adjustment (COLA) for certain annuitants. Unlike the TRS COLA component of SB 10, the stipend component doesn’t require voter approval of proposition 9 at the ballot this November.
Those between 70 and 74 years old on Aug. 31, 2023, received a $2,400 check. Those 75 years or older on Aug. 31, 2023, received a $7,500 check. These checks are treated as taxable income. For a full breakdown of SB 10, check out our article unpacking our fight for a TRS COLA.
At the hearing, the board also discussed the TRS Health Fairs that will be held across the state this fall. These fairs are opportunities to learn more about your TRS-Care plan and to connect with fellow retired educators in your area. For more information about TRS Health Fairs in your area, click here. To register for a TRS Health Fair, click here.