House Pensions, Investments & Financial Services Committee
During the meeting, the committee discussed several important bills focused on state employee pensions, the education sector, and consumer credit resources. One of the main topics was HB886, which proposes a 13th check for state retirees to help alleviate financial challenges faced by those who have not seen any pension adjustments for over a decade. The bill received support from various stakeholders who emphasized its necessity given the rising costs of living and inflation. Additionally, HB3221 was examined, addressing unequal pension contributions between traditional school districts and charter schools, which has placed undue financial burdens on charter schools since 2019. The bill aims to unify the contribution rates to ensure fairness and retain essential funding for education.
Relating to service retirement benefits payable by the Employees Retirement System of Texas to certain law enforcement officers and custodial officers.
Relating to retirement benefits for certain law enforcement officers who are members of the Teacher Retirement System of Texas, including the creation of a supplemental program retirement fund.