Texas House Bill HB2777

Texas 2019 - 86th Regular

Caption

Relating to the resumption of service by retirees under the Teacher Retirement System of Texas.

Impact

The impact of HB2777 on state laws primarily concerns the regulation of the benefits provided by the Teacher Retirement System. By modifying the provisions related to suspended payments, the bill allows retirees who return to work to more easily access their benefits. This could encourage more retirees to consider re-entering the workforce without the fear of losing their pension payments while employed, potentially enhancing the pool of experienced workers available in the education sector.

Summary

House Bill 2777 proposes amendments to the Government Code concerning the resumption of service by retirees under the Teacher Retirement System of Texas. The bill specifically addresses the conditions under which retirees who have returned to work can have their retirement benefit payments resumed. It allows individuals who meet certain conditions to start receiving their monthly benefit payments again if they had previously suspended payments due to resuming employment. This change aims to provide more flexibility and support for retirees seeking to return to the workforce.

Contention

While the bill's intent is largely supportive of retirees, it may spark debate regarding the implications for the Teacher Retirement System's financial stability. There may be concerns expressed by stakeholders about how resuming benefit payments for retirees returning to work could affect the overall funding of the pension system, especially if a significant number of retirees take advantage of these provisions. Furthermore, proponents might emphasize the need to provide incentives for retirees to work, while opponents could argue about the long-term fiscal sustainability of such a measure.