SB 7, legislation to provide school retirees with a supplemental check, passed the Texas Senate today on a 22-0 vote. If the bill eventually becomes law, it would require TRS to issue a "13th check" in the amount of the retiree's normal monthly check, capped at $2,400, no later than January 2022. In laying out the bill Sen. Joan Huffman pointed out that the Legislature had approved a 13th check in 2019 as well.
Huffman also noted that the Legislature intends to fund the payment through a $701M lump sum appropriation from general revenue, so the 13th check will not have to be financed through the pension fund.
The next step for SB 7 would be consideration by a House committee; however, until a quorum is established in the House, committees will not be able to meet. A similar bill has already passed out of the House Pensions, Investments & Financial Services Committee, but has not yet been considered on the House floor.