Highlights from September TRS Board meeting

The TRS Board of Trustees held its first quarterly meeting of the school year on Sept. 14-15. Highlights of the meeting include:

• Past TCTA State President Sherry Miller of Killeen has been reappointed to the TRS Retiree Advisory Committee. She will serve as the active teacher appointee. This year’s selections were extremely competitive. Congratulations to Sherry!
• One-time stipends for eligible TRS retirees are being distributed now in the same manner they currently receive their annuities, such as direct deposit or paper check by mail. Annuitants age 75 and older will receive $7,500; eligible annuitants age 70 to 74 will receive $2,400. Additionally, eligible annuitants who retired on or before Aug. 31, 2020, may also receive a cost-of-living increase in 2024 if voters approve the measure on Nov. 7.
• TRS is in the process of adopting rules to transition districts that want to join ActiveCare, but are on a Jan-Dec plan year instead of Sept-Aug. During this discussion, staff noted that they are getting many calls from legislative offices about districts wanting to join ActiveCare. Killeen ISD will be joining in January.
• TRS is providing member education on financial awareness through a new video series. Also included are videos on pension education resources and health benefits information.
• TRS staff presented facts from the National Association of State Retirement Administrators focusing on comparing TRS's fiscal status to other state plans. They noted that employer contribution rates in Texas are very low in comparison, as shown in the chart below.